Efficiency in Football Betting Market: Evidence from English Premier

Market efficiency and existence of profitable strategy are the most popular analysis in the research concerning betting market. A market is described as inefficient if there are one or more betting strategies that generate abnormal return. This study examine the English Premier League betting market over a period of 6 seasons, from season 2007/08 to 2012/13.Also takes into consideration the odds provided by nine bookmaking firms operating in the UK betting market. The results demonstrate a decrease in the profit margin of each bookmaking firm and also the decrease in the accuracy of the bookmakers¿ accuracy. Arbitrage opportunities along with favourite longshot bias, do exist also in the data. The results question market efficiency