Football Betting As A Cyclical Learning Process

Francesc Pujol

No 05/09, Faculty Working Papers from School of Economics and Business Administration, University of Navarra

Abstract: Based on the well established result of probability matching, we explore in this paper to what extent soccer bettors adjust their behavior taking into account the new relevant information provided by the market. We test empirically the existence of a learning process using the Quiniela bettors performance, the Spanish soccer betting game, for the period 1970-2000. Empirical results suggest that there is a progressive improvement in the bettors' performance attributable to the learning process. The other remaining explanatory variables follow the expected behavior.

Keywords: betting market; learning process; soccer; Quiniela (search for similar items in EconPapers)
JEL-codes: D81 D83 L83 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2009-09-27
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:una:unccee:wp0509

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