Efficiency in Betting Markets: Evidence from English Football

We analyze the efficiency of English football betting markets between 2002 and 2006. We find evidence of a positive favourite-longshot bias for both home odds and away odds. Draw odds are instead characterized by a negative longshot bias. We also identify a draw bias in the sense that betting at draw odds yields a higher return than betting at home or away odds. Finally, we investigate betting strategies that exploit the variance of odds between bookmakers.

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Year of publication:	2007
Authors:	Deschamps, Bruno ; Gergaud, Olivier
Published in:	Journal of Prediction Markets. - University of Buckingham Press, ISSN 1750-6751. - Vol. 1.2007, 1, p. 61-73
Publisher:	University of Buckingham Press

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Extent:	text/html
Type of publication:	Article
Classification:	L83 - Sports; Gambling; Recreation; Tourism
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005256268