50
Views
6
CrossRef citations to date
0
Altmetric
Original Articles

Efficiency in gambling markets involving spread: a corrected and simplified test

&
Pages 93-95 | Received 07 Mar 1996, Published online: 02 Nov 2006
 

Abstract

A correction is proposed for a test of market efficiency that is commonly applied to sports betting markets. Markets offering spread and totals wagers, such as football and basketball, typically employ the ‘eleven for ten’ betting rule. The previously established test statistic for profitability is positively biased, so it could lead researchers to a false rejection of the efficient markets hypothesis.

Address all correspondence to Linda M Woodland at the Department of Accounting.

Address all correspondence to Linda M Woodland at the Department of Accounting.

Notes

Address all correspondence to Linda M Woodland at the Department of Accounting.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.