INFORMATION EFFECTS AND NATIONAL HOCKEY LEAGUE BETTING MARKET EFFICIENCY

Matt E Ryan, Marshall Gramm, C. Nicholas McKinney

Abstract


Previous studies of the National Hockey League (NHL) betting market claim a general movement towards efficiency over the last two decades.  These studies, however, assume a homogenous betting market with regards to the time of year in which bets are placed.  Differences in available information—information effects—have been shown to distort the Major League Baseball betting market; they produce similar distortions when considered in the NHL market as well.  As such, previous claims of market efficiency must be revisited in light of heterogeneous information.


Keywords


Betting markets, National Hockey League, information effects, market efficiency

References


Gandar, J., Zuber, R. and R. Johnson. 2004. A reexamination of the efficiency of the betting market on National Hockey League games. Journal of Sports Economics, 5, pp. 152-68.

Gandar, J., Zuber, R., Johnson, R. and W. Dare. 2002. Re-examining the betting market on Major League Baseball games: Is there a reverse favourite-longshot bias? Applied Economics, 34, pp. 1309-17.

Paul, Rodney J. and Andrew P. Weinbach. 2008. Line movements and Market Timing in the Baseball Gambling Market. Journal of Sports Economics, 9, pp. 371-86.

Ryan, M., Gramm, M. and C. McKinney. 2012. Information effects in Major League Baseball betting markets. Applied Economics, 44, pp. 707-716.

Woodland, L. and B. Woodland. 2001. Market efficiency and profitable wagering in the National Hockey League: Can bettors score on longshots? Southern Economic Journal, 67, pp. 983-95.

Woodland, L. and B. Woodland. 2010. Market efficiency and the NHL totals betting market: Is there an under bias? Economics Bulletin, 30, pp. 3122-27.

Woodland, L. and B. Woodland. 2011. The reverse-favorite-longshot bias in the National Hockey League: Do betters still score on longshots? Journal of Sports Economics, 12, pp. 106-117.




DOI: http://dx.doi.org/10.5750/jgbe.v6i1.578

Refbacks

  • There are currently no refbacks.