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Football Betting and the Efficient Market Hypothesis

Author

Listed:
  • Ravija Badarinathi
  • Ladd Kochman

Abstract

Three betting rules which had been nonrandomly profitable in both their initial application to the 1969–74 National Football League seasons and their replication during the years of 1975–81 were applied to all NFL games played between September 1984 and January 1994. One rule proved to be nonrandom and profitable for a third consecutive trial—a feat suggesting that bettors may be able to “beat the bookie†and, more broadly, that prices in competitive markets may not discount all available information in swift fashion.

Suggested Citation

  • Ravija Badarinathi & Ladd Kochman, 1996. "Football Betting and the Efficient Market Hypothesis," The American Economist, Sage Publications, vol. 40(2), pages 52-55, October.
    • Handle: RePEc:sae:amerec:v:40:y:1996:i:2:p:52-55
    DOI: 10.1177/056943459604000207
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    Cited by:

    1. Michael DiFilippo & Kevin Krieger & Justin Davis & Andy Fodor, 2014. "Early Season NFL Over/Under Bias," Journal of Sports Economics, , vol. 15(2), pages 201-211, April.
    2. Auld, Tom & Linton, Oliver, 2019. "The behaviour of betting and currency markets on the night of the EU referendum," International Journal of Forecasting, Elsevier, vol. 35(1), pages 371-389.
    3. Evan Moore & James Francisco, 2019. "Efficiency, Profitability, and College Football: do Bettors Overrate the Major Conferences in Interconference Play?," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 47(2), pages 159-167, June.
    4. Ioannis Asimakopoulos & John Goddard, 2004. "Forecasting football results and the efficiency of fixed-odds betting," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 23(1), pages 51-66.
    5. James Francisco & Evan Moore, 2019. "Betting with house money: reverse line movement based strategies in college football totals markets," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 43(4), pages 813-827, October.

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