Market efficiency and the favorite–longshot bias: evidence from handball betting markets

Arne Feddersen

Chapter 7 in The Economics of Sports Betting, 2017, pp 105-117 from Edward Elgar Publishing

Abstract: Considerable attention has been devoted to the presence of favourite-longshot boas in sports betting markets where favourites are ‘under-bet’ with odds that are superior to those predicted under fully efficient markets. Underdogs are ‘under-bet’ with odds that are even more unfair than those that would be predicted under market efficiency. The favourite-longshot bias has been well-documented in horse racing. In this chapter the author extends the analysis of favourite-longshot bias to European handball leagues covering six countries. The chapter uses regression-based analysis to demonstrate the presence of favourite-longshot bias in handball with market inefficiency observed as a consequence.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
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