PROFITING FROM ARBITRAGE AND ODDS BIASES OF THE EUROPEAN FOOTBALL GAMBLING MARKET

dc.contributor.author	Constantinou, A	en_US
dc.contributor.author	Fenton, N	en_US
dc.date.accessioned	2016-01-19T15:14:54Z
dc.date.issued	2013	en_US
dc.identifier.uri	http://qmro.qmul.ac.uk/xmlui/handle/123456789/10781
dc.description.abstract	A gambling market is usually described as being inefficient if there are one or more betting strategies that generate profit, at a consistent rate, as a consequence of exploiting market flaws. This paper examines the online European football gambling market based on 14 European football leagues over a period of seven years, from season 2005/06 to 2011/12 inclusive, and takes into consideration the odds provided by numerous bookmaking firms. Contrary to common misconceptions, we demonstrate that the accuracy of bookmakers' odds has not improved over this period. More importantly, our results question market efficiency by demonstrating high profitability on the basis of consistent odds biases and numerous arbitrage opportunities.	en_US
dc.format.extent	41 - 70	en_US
dc.relation.ispartof	Journal of Gambling Business and Economics	en_US
dc.subject	L83	en_US
dc.subject	betting market	en_US
dc.subject	favourite-longshot bias	en_US
dc.subject	football betting	en_US
dc.subject	profit margin	en_US
dc.subject	soccer betting	en_US
dc.subject	sports betting	en_US
dc.subject	sports gambling	en_US
dc.title	PROFITING FROM ARBITRAGE AND ODDS BIASES OF THE EUROPEAN FOOTBALL GAMBLING MARKET	en_US
dc.type	Article
pubs.issue	2	en_US
pubs.notes	Not known	en_US
pubs.volume	7	en_US