Market efficiency and the favorite-longshot bias

Evidence from handball betting markets

Arne Feddersen*

*Kontaktforfatter for dette arbejde

Publikation: Bidrag til bog/antologi/rapport/konference-proceedingBidrag til bog/antologiForskningpeer review

Resumé

Considerable attention has been devoted to the presence of favourite-longshot boas in sports betting markets where favourites are ‘under-bet’ with odds that are superior to those predicted under fully efficient markets. Underdogs are ‘under-bet’ with odds that are even more unfair than those that would be predicted under market efficiency. The favourite-longshot bias has been well-documented in horse racing. In this chapter the author extends the analysis of favourite-longshot bias to European handball leagues covering six countries. The chapter uses regression-based analysis to demonstrate the presence of favourite-longshot bias in handball with market inefficiency observed as a consequence.

OriginalsprogEngelsk
TitelThe Economics of Sports Betting
RedaktørerPlácido Rodríguez, Brad R. Humphreys, Robert Simmons
ForlagEdward Elgar Publishing
Publikationsdato2017
Sider105-117
Kapitel7
ISBN (Trykt)9781785364549
ISBN (Elektronisk)9781785364556
DOI
StatusUdgivet - 2017
NavnNew Horizons in the Economics of Sports series

Fingeraftryk

Betting markets
Market efficiency
Sports betting
Efficient markets
Market inefficiency

Citer dette

Feddersen, A. (2017). Market efficiency and the favorite-longshot bias: Evidence from handball betting markets. I P. Rodríguez, B. R. Humphreys, & R. Simmons (red.), The Economics of Sports Betting (s. 105-117). Edward Elgar Publishing. New Horizons in the Economics of Sports series https://doi.org/10.4337/9781785364556.00013
Feddersen, Arne. / Market efficiency and the favorite-longshot bias : Evidence from handball betting markets. The Economics of Sports Betting. red. / Plácido Rodríguez ; Brad R. Humphreys ; Robert Simmons. Edward Elgar Publishing, 2017. s. 105-117 (New Horizons in the Economics of Sports series).
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abstract = "Considerable attention has been devoted to the presence of favourite-longshot boas in sports betting markets where favourites are ‘under-bet’ with odds that are superior to those predicted under fully efficient markets. Underdogs are ‘under-bet’ with odds that are even more unfair than those that would be predicted under market efficiency. The favourite-longshot bias has been well-documented in horse racing. In this chapter the author extends the analysis of favourite-longshot bias to European handball leagues covering six countries. The chapter uses regression-based analysis to demonstrate the presence of favourite-longshot bias in handball with market inefficiency observed as a consequence.",
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Feddersen, A 2017, Market efficiency and the favorite-longshot bias: Evidence from handball betting markets. i P Rodríguez, B R. Humphreys & R Simmons (red), The Economics of Sports Betting. Edward Elgar Publishing, New Horizons in the Economics of Sports series, s. 105-117. https://doi.org/10.4337/9781785364556.00013

Market efficiency and the favorite-longshot bias : Evidence from handball betting markets. / Feddersen, Arne.

The Economics of Sports Betting. red. / Plácido Rodríguez; Brad R. Humphreys; Robert Simmons. Edward Elgar Publishing, 2017. s. 105-117 (New Horizons in the Economics of Sports series).

Publikation: Bidrag til bog/antologi/rapport/konference-proceedingBidrag til bog/antologiForskningpeer review

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Feddersen A. Market efficiency and the favorite-longshot bias: Evidence from handball betting markets. I Rodríguez P, R. Humphreys B, Simmons R, red., The Economics of Sports Betting. Edward Elgar Publishing. 2017. s. 105-117. (New Horizons in the Economics of Sports series). https://doi.org/10.4337/9781785364556.00013