Efficiency in Betting Markets: Evidence from English Football

Bruno Deschamps and Olivier Gergaud

Journal of Prediction Markets, 2007, vol. 1, issue 1, 61-73

Abstract: 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.

JEL-codes: L83 (search for similar items in EconPapers)
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (26)

Downloads: (external link)
http://www.ingentaconnect.com/content/ubpl/jpm/2007/00000001/00000001/art00005 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:buc:jpredm:v:1:y:2007:i:1:p:61-73

Ordering information: This journal article can be ordered from
http://www.predictio ... ex_files/Page418.htm

Access Statistics for this article

Journal of Prediction Markets is currently edited by Leighton Vaughan Williams, Nottingham Business School

More articles in Journal of Prediction Markets from University of Buckingham Press
Bibliographic data for series maintained by Dominic Cortis, University of Malta ().