Question: account for the rise of sports betting markets in australia...
Account for the rise of sports betting markets in Australia or overseas and the implications this has for the efficiency and integrity of sports competition. Can the sports gambling market be seen as fitting into the efficient market hypothesis? Should sports gambling be classified as just a product differentiation from the general gambling industry or is it a unique phenomenon from the rise of professional sport?
It has been shown that sports betting markets do not follow the efficient market hypothesis theory, with losing bets often being more than 70% of the total bets placed. Why do these markets continue to show systematic bias in comparison to most financial markets? Will this feature of sports betting markets continue or will legislative reform or learning effects on the part of bettor’s lead to a reversion towards efficient markets?