Recently, a number of high-profile betting scandals have shocked European football. Since such scandals threaten the integrity of the sport, which is one of its major assets, football officials have taken prominent measures to avoid further scandals. Unfortunately, these measures have not yet...

This paper examines whether the outcome bias harms price efficiency in betting exchange markets. In soccer, the match outcome is an unreliable performance measure, as it underestimates the high level of randomness involved in the sport. If bettors overestimate the importance of past match...