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Investments in Course Betting Market
Říha, Tomáš ; Pálka, Jaroslav (referee) ; Ptáček, Roman (advisor)
The Master´s thesis proves the possibility of effective investment in the betting market. The operating mechanisms of the betting market are firmly disavowed from any forms of the hazard and approximated towards the principles of the financial market. The output of investment activity is captured by financial plan.
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Investments in Course Betting Market
Říha, Tomáš ; Pálka, Jaroslav (referee) ; Ptáček, Roman (advisor)
The Master´s thesis proves the possibility of effective investment in the betting market. The operating mechanisms of the betting market are firmly disavowed from any forms of the hazard and approximated towards the principles of the financial market. The output of investment activity is captured by financial plan.
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Efficiency of sports betting markets: are betting odds of KHL biased according to distance?
Matoušek, Roman ; Lahvička, Jiří (advisor) ; Svoboda, Miroslav (referee)
This thesis examines, if Continental hockey league betting market is efficient and if betting odds are biased according to distance (up to 7500 km). Research is based on 2700 matches between 2008-2012 and odds set by 5 Czech betting companies. Market inefficiency was not found by statistical tests. There was found by using regression analysis that bettors overestimate home teams with respect to distance that visiting team's fans have to travel. It is significant only at 10% significance level. Then there was carried out a simulation of betting on various strategies and there was found the least losing strategy at betting on away teams, which travel more than 1497 km. At this strategy, there is an average return 0,97 CZK inset 1 CZK. Weak form of efficiency cannot be rejected.
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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.
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