Authors

• Francesc Pujol ( )
  ESI, Economics Sport and Intangibles research group, Department of Economics, University of Navarra

Abstract
Based on the well established result of probability matching, we explore in this paper to what extent soccer bettors adjust their behavior taking into account the new relevant information provided by the market. We test empirically the existence of a learning process using the Quiniela bettors performance, the Spanish soccer betting game, for the period 1970-2000. Empirical results suggest that there is a progressive improvement in the bettors' performance attributable to the learning process. The other remaining explanatory variables follow the expected behavior.

Classification JEL:D83, L83, D81

Keywords:betting market, learning process, soccer, Quiniela

Number of Pages:32

Creation Date:2009-09-27

Number:null/09