How Efficient is the European Football Betting Market? Evidence from Arbitrage and Trading Strategies
作者： Nikolaos Vlastakis , George Dotsis , Raphael N. Markellos
DOI: 10.1002/FOR.1085
关键词:
摘要: This paper assesses the international efficiency of European football betting market by examining forecastability match outcomes on basis information contained in different sets online and fixed odds quoted six major bookmakers. The also investigates profitability strategies based on: combined betting, simple heuristic rules, regression models prediction encompassing. empirical results show that across bookmakers can lead to limited but highly profitable arbitrage opportunities. Simple trading rules forecast encompassing are found capable producing significant positive returns. Despite deregulation, globalization increased competition industry over recent years, predictabilities profits reported this not fully consistent with weak-form efficiency. Copyright © 2008 John Wiley & Sons, Ltd.
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