Home > Search Results: keywords:"favorite-longshot bias"
Search:
Search Tips :: Advanced Search
Search collections:
Sort by: Display results: Output format:
National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
Eseje o ekonomii sportu
 Lahvička, Jiří ; Chytil, Zdeněk (advisor) ; Schwarz, Jiří (referee) ; Pertold Gebická, Barbara (referee)
This dissertation consists of five articles about economics of sports. The first three articles investigate various types of outcome uncertainty and how they relate to match attendance demand, while the remaining two articles test the efficiency of sports betting markets. The first article presents a new method of calculating match importance. Unlike the previous approaches in the literature, it does not require ex-post information and can be used for any type of season outcome. The second article shows that the additional playoff stage in the Czech ice hockey "Extraliga" lowers the probability of the strongest team becoming a champion and thus increases seasonal uncertainty. The third article demonstrates that the inconsistent findings in the literature about the link between match uncertainty and attendance could be explained by wrongly specified regressions, proposes a new approach to analyzing the effect of match uncertainty and shows that attendance demand is maximized if teams of the same quality play against each other. The fourth article examines the favorite-longshot bias in the context of betting on tennis matches. It shows that the favorite-longshot bias pattern is consistent with bookmakers protecting themselves against both better informed insiders and the general public exploiting new information. The fifth article investigates the supposedly profitable strategy of betting on soccer draws using the Fibonacci sequence. The strategy is tested both in a simulated market and on a real data set and found to lose money.
Detailed record
Is sports betting market efficient in the CR?
 Dlabiková, Lucie ; Lahvička, Jiří (advisor) ; Brožová, Dagmar (referee)
This thesis investigates whether the Czech football betting market is efficient. It uses historical data from 1996 to 2011 from the matches of first and second Czech Football League and odds of five biggest betting companies on the Czech market - Fortuna, Chance, Sazka, Synot Tip and Tipsport. Two inefficiency-causing anomalies have been found- first, underestimation of favorites; second, underestimation of home teams. This means that the expected returns of all betting opportunities are not equal and consequently the market is not strongly efficient. Based on these findings, some strategies that significantly reduce betting losses have been identified. The greatest betting return can be obtained by betting only on the home team which is also a slight favorite. The average return on a 100 CZK bet is 98.79 CZK. Weak efficiency was not excluded because even the best tested strategy was not profitable. Another tested hypothesis was whether the spread of information technology and the corresponding decline in transaction costs increase market efficiency over time. It has been shown that the odds of different bookmakers have the tendency to come closer to each other over time and thus the opportunities for arbitrage decline.
Detailed record

Interested in being notified about new results for this query?
Subscribe to the RSS feed.
Digital Repository :: Search :: Submit :: Personalize :: Help
Powered by Invenio v1.1.2
Maintained by admin.invenio@techlib.cz
This site is also available in the following languages:
Česky  English