Abstract:Betting on sports is increasingly popular, and legal in the United States. Many states have moved to legalize sports betting both in-person and on-line. In this paper we evaluate the sports betting market and assess its efficiency in the financial sense. Using a large dataset of betting odds and outcomes across a wide range of sports over an extended period, we evaluate the weak-form efficiency of the sports betting market. While we find some minor technical inefficiencies, overall, the markets are generally e… Show more
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