EXPLORING VARIATIONS IN ODDS BIAS ACROSS BETTING MEDIA

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Published: Jan 2, 2013
DOI: https://doi.org/10.5750/jgbe.v4i1.551
Keywords:
Betting Markets Market Efficiency Favourite-Longshot Bias

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Michael A Smith
Leeds Business School, Leeds Metropolitan University

Abstract

The favourite-longshot bias is estimated for bookmaker odds from 9,006 UK Flat races, and compared to the bias evident in a sample of betting exchange odds from 6,000 races during the same period. The results are compared to similar studies of bias in Tote odds and US pari-mutuel odds. It is suggested that an information model only partially explains variations in the degree of bias between alternative betting media.

Article Details

Issue
Vol. 4 No. 1 (2010)
Section
Articles

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