TY  - GEN
AB  - Research on sports betting often identifies biased evaluation by bookmakers and
corresponding opportunities for profitable strategies to bettors. Such studies
repeatedly provide evidence for the existence of biased betting odds for different
periods and leagues, leaving the impression that inefficiencies are very common.
Since most studies cover only a few seasons, the question remains whether these
market inefficiencies persist over time. We review the literature on the big five
leagues in European association football and then analyse 14 seasons to detect
the occurrence and duration of betting market inefficiencies. While our results
replicate the temporal findings of previous research, they also show that biases do
not persist systematically over time and across leagues. Furthermore, a Monte
Carlo simulation reveals that the number of inefficient periods barely exceeds
what would be expected in an efficient market.
DA  - 2020
DO  - 10.4119/unibi/2949467
KW  - Betting Markets
KW  - Biases
KW  - Market Efficiency
KW  - Monte Carlo Simulation
LA  - eng
PY  - 2020
SN  - 2196-2723
SP  - 31-
TI  - Betting Market Inefficiencies in European Football – Bookmakers’ Mispricing or Pure Chance?
UR  - https://nbn-resolving.org/urn:nbn:de:0070-pub-29494678
Y2  - 2024-11-22T03:46:37
ER  -