Betting on Market Efficiency: A Note

Ladd Kochman and Ken Gilliam

New York Economic Review, 2010, vol. 41, issue 1, pages 57-59

Abstract: Two mechanical betting rules were applied to games in the National Football League for the 2000-2008 seasons. Wagers of $11 (to win $10) on all NFL underdogs produced a net loss of $717. When bets were limited to visiting underdogs, only $395 (or $44 per year) was lost. The results suggest that gambling on the outcome of football games can be a rewarding activity for bettors more interested in action than financial gain.

Date: 2010
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