Paul, Rodney J.; Weinbach, Andrew P. - In: Journal of Sports Economics 14 (2013) 2, pp. 115-132
Due to the use of sports wagering market data as a laboratory to test the Efficient Markets Hypothesis, sports bettors … market efficiency, the notion of the sports bettor as investor should be in doubt. Using betting volume data from online … sportsbooks, bettors are shown to substitute out of baseball betting into football betting when the season starts. The authors …