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I don't think it's that simple - if other people find out English bookies overrate England, then they make a profit by betting against. I'm not saying every mar
by ngriffiths 2y ago
I don't think it's that simple - if other people find out English bookies overrate England, then they make a profit by betting against. I'm not saying every market is perfectly efficient but it would be surprising if a major inefficiency lasted for a while. And if "enough" bets are placed the set odds will always be an unbiased estimate of the true odds.
- tomjakubowski 2y agoSports bookies have a significant informational advantage over the everyday gambler; they index massive amounts of historical data and have access to live data which is lower-latency than radio or television broadcasts. That helps make the market inefficient.