The Wisdom of No Crowds: The Reaction of Betting Markets to Lockdown Soccer Games
|Title:||The Wisdom of No Crowds: The Reaction of Betting Markets to Lockdown Soccer Games||Authors:||Hegarty, Tadgh; Whelan, Karl||Permanent link:||http://hdl.handle.net/10197/12955||Date:||Apr-2022||Online since:||2022-06-30T15:32:32Z||Abstract:||The support of home spectators is one of the contributing factors to the home advantage effect in sports matches. The Covid-19 pandemic led to European soccer matches being played without spectators. We show that betting markets adjusted swiftly to account for a reduced home advantage in both goal difference and the probability of a win. These adjustments proved accurate over a large sample of soccer matches subsequently played without spectators even though the earliest games appeared to suggest a much bigger change in home advantage.||Type of material:||Working Paper||Publisher:||University College Dublin. School of Economics||Start page:||1||End page:||19||Series/Report no.:||UCD Centre for Economic Research Working Paper Series; WP2022/13||Copyright (published version):||2022 the Authors||Keywords:||Market efficiency; Home advantage; Soccer; COVID-19; Coronavirus||JEL Codes:||G14; L83; Z20; Z21||Language:||en||Status of Item:||Not peer reviewed||This item is made available under a Creative Commons License:||https://creativecommons.org/licenses/by-nc-nd/3.0/ie/|
|Appears in Collections:||Economics Working Papers & Policy Papers|
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