“…Online betting markets have facilitated the development of in-play betting, whereby bets can be placed on the result of an event (e.g., a tennis match) whilst it is taking place (Sauer, 2005;Huang et al, 2011;Dumitrescu et al, 2013;Viney, 2015;Dias, 2016). The general consensus of studies comparing the forecasting ability of in-play odds with the predictions of mathematical models based on information which arrives during the course of an event, is that in-play odds react quickly and appropriately to the arrival of new information, such as a goal being scored in soccer or a point won in tennis (e.g., Newton & Aslam, 2009;Easton & Uylangco, 2010;Sauer et al, 2010;McHale & Morton, 2011;Spanias & Knottenbelt, 2012;Dumitrescu et. al., 2013;Croxson & Reade 2014;Viney, 2015).…”