A carregar...
Publicação
Testing market efficiency: a case study on the football betting market
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 433.61 KB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
This research investigates the efficiency of the sports betting market using football, with an original database compiling information for the last 10 sports seasons for three football leagues with different characteristics. Both literature and intuition tell us that prices or odds have made up a good forecast on the outcome of the sports event but also that bookmakers react poorly to information.This premise was tested through statistical and economic efficiency tests using the created model.In-sample evidence shows that odds are biased predictions of the matches outcome but there are investment strategies capable of generating statistically significant profits in the long run.Financial instruments available to investors interested in this market are also described and analyzed.
Descrição
Palavras-chave
Sports betting Betting markets Market efficiency Sports results forecast Behavioral finance Alternative investments Hedge funds