Abstract
We analyze data from 52 online in-game sports betting markets (where betting is allowed continuously throughout a game), including 34 markets based on soccer (European football) games from the 2002 World Cup, and 18 basketball games from the 2002 USA National Basketball Association (NBA) championship. We show that prices on average approach the correct outcome over time, and the price dynamics in the markets axe closely coupled with game events, agreeing with efficient market assumptions. We also examine qualitative distinctions between the two types of games.
| Original language | English (US) |
|---|---|
| Pages | 258-259 |
| Number of pages | 2 |
| DOIs | |
| State | Published - 2003 |
| Externally published | Yes |
| Event | Proceedings of the 4th ACM Conference on Electronic Commerce - San Diego, CA, United States Duration: Jun 9 2003 → Jun 12 2003 |
Conference
| Conference | Proceedings of the 4th ACM Conference on Electronic Commerce |
|---|---|
| Country/Territory | United States |
| City | San Diego, CA |
| Period | 6/9/03 → 6/12/03 |
All Science Journal Classification (ASJC) codes
- Computer Science (miscellaneous)
- Business, Management and Accounting (miscellaneous)
Keywords
- Economic efficiency
- Efficient markets hypothesis
- Entropy
- In-game sports betting
- Information incorporation
- Logarithmic score
- Market reaction
- Soccer