On the efficiency of online soccer betting markets: a new methodology based on symbolic series

Salvatore Caruso () and Giuseppe Pernagallo
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Salvatore Caruso: Zanasi & Partners

Economics Bulletin, 2021, vol. 41, issue 3, 1451-1460

Abstract: We propose a new methodology based on symbolic series to test the weak form of efficiency for soccer betting markets. This purpose was accomplished by introducing a definition of returns for betting markets and then creating binary series using the notion of excess returns. We present an application of the method using Serie A and Premier League data.

Keywords: Econometric Modelling; Efficient Market Hypothesis; Financial Economics; Information Theory (search for similar items in EconPapers)
JEL-codes: C5 G1 (search for similar items in EconPapers)
Date: 2021-09-17
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