Market Efficiency and the Arena Football League: A Note

Kochman, Ladd; Goodwin, Randy
June 2004
American Business Review;Jun2004, Vol. 22 Issue 2, p97
Academic Journal
The aim of this paper is to examine the efficiency of the betting market for the Arena Football League in the U.S. Z-values and minimum rates of 50 percent and 52.4 percent were applied to test for random and profitable W/B ratios. Like the vast majority of football betting market studies, the authors have found biases that could be considered inefficiencies in the absence of transaction costs.


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