Journal of Economics and Finance

, Volume 29, Issue 3, pp 385–390 | Cite as

Appropriate statistical methodology for testing the efficiency of betting markets involving spread and totals

  • M. Woodland
  • Linda M. Woodland
Sports Symposium


This paper compares the accuracy of commonly used tests of market efficiency and provides a recommendation for future research.


Decimal Place Market Efficiency Efficient Market Hypothesis Error Error Percent Significance Level 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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  4. Tryfos, P., S. Casey, S. Cook, G. Leger, and B. Pylypiak. 1984. “The Profitability of Wagering on NFL Games.”Management Science 30: 123–132.CrossRefGoogle Scholar
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Copyright information

© Springer 2005

Authors and Affiliations

  • M. Woodland
    • 1
  • Linda M. Woodland
    • 1
  1. 1.College of BusinessEastern Michigan UniversityYpsilanti

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