Konferenzbeitrag

Chance or Ability? The Efficiency of the Football Betting Market Revisited

The extent of market efficiency induced by rational behaviour of market participants is central for economic research. Many economists have already examined sports-betting markets as a laboratory to better understand trading behaviour and efficiency of stock prices while avoiding to jointly test the hypothesis of a correct capital market model. The following paper will investigate whether the European football betting market fulfils the efficiency paradigm introduced by Fama (1970) with a unique dataset allowing for an investigation of the German betting market in view of its regulatory changes recently. The analysis contributes to the literature by conducting a variety of empirical strategy including rational expectation frameworks and an ordered choice model to stress the ex post market performance from a weak and semi-strong form perspective. In view of existing market distortions as taxes, switching costs of changing betting providers and limitation in competition, the results of the analysis are indicative of a rational market equilibrium surprisingly close to the efficiency benchmark.1

Sprache
Englisch

Erschienen in
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2018: Digitale Wirtschaft - Session: Forecasting II ; No. E05-V2

Klassifikation
Wirtschaft
Information and Market Efficiency; Event Studies; Insider Trading
Sports; Gambling; Restaurants; Recreation; Tourism
Thema
Gambling
Sports Betting
Market Efficiency

Ereignis
Geistige Schöpfung
(wer)
Rebeggiani, Luca
Gross, Johannes
Ereignis
Veröffentlichung
(wer)
ZBW - Leibniz-Informationszentrum Wirtschaft
(wo)
Kiel, Hamburg
(wann)
2018

Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Konferenzbeitrag

Beteiligte

  • Rebeggiani, Luca
  • Gross, Johannes
  • ZBW - Leibniz-Informationszentrum Wirtschaft

Entstanden

  • 2018

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