Information incorporation in online in-game sports betting markets

Sandip Debnath, David M. Pennock, C. Lee Giles, Steve Lawrence

Research output: Contribution to conferencePaperpeer-review

27 Scopus citations

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 languageEnglish (US)
Pages258-259
Number of pages2
DOIs
StatePublished - 2003
Externally publishedYes
EventProceedings of the 4th ACM Conference on Electronic Commerce - San Diego, CA, United States
Duration: Jun 9 2003Jun 12 2003

Conference

ConferenceProceedings of the 4th ACM Conference on Electronic Commerce
Country/TerritoryUnited States
CitySan Diego, CA
Period6/9/036/12/03

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

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