This paper compares the results of the soccer games played in the Italian �serie A� with the odds posted (ex-ante) by bookmakers. We used two datasets: the first consists of the results and the odds posted by three bookmakers in the 2007/08 season (867 observations); the second consists of the results and the odds posted by a single bookmaker from 2002 to 2008 (6369 observations). Our results corroborates our theoretical hypotheses: a) the Italian soccer betting market is efficient; b) a favorite long shot bias emerges. In our conclusion the Italian soccer betting market is populated by rational (locally) risk-loving agents.
A study on the Italian soccer betting market / Rossi, Marco. - ELETTRONICO. - (2009). (Intervento presentato al convegno , SIDE-ISLE 2009 - Fifth Annual Conference tenutosi a Firenze nel 4/5 dicembre 2009).
A study on the Italian soccer betting market
ROSSI, Marco
2009
Abstract
This paper compares the results of the soccer games played in the Italian �serie A� with the odds posted (ex-ante) by bookmakers. We used two datasets: the first consists of the results and the odds posted by three bookmakers in the 2007/08 season (867 observations); the second consists of the results and the odds posted by a single bookmaker from 2002 to 2008 (6369 observations). Our results corroborates our theoretical hypotheses: a) the Italian soccer betting market is efficient; b) a favorite long shot bias emerges. In our conclusion the Italian soccer betting market is populated by rational (locally) risk-loving agents.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
