FiT Publishing

Betting market odds for Major League Baseball are used to examine the level of uncertainty of outcome, an ex-ante form of competitive balance. The efficient markets hypothesis cannot be rejected for the years 1990-2006 in Major League Baseball. Therefore, the odds provide an ex-ante measure of the uncertainty of outcome of baseball games in the minds of fans and bettors. The odds for both the American and National Leagues were shown to increase during the 1990s, implying more certainty in the expected outcome of the game. Bettors and fans believed favorites in Major League Baseball were...Read more

The National Collegiate Athletic Association (NCAA) is the most dominant institution organizing collegiate and amateur athletics in the United States and potentially the world. The NCAA, founded in 1906, is composed of more than 1,000 schools, organizes competition for 40 sports, and coordinates the athletic competitions of more than 90 championships. As the commercial shown during the men’s Division I postseason basketball tournament (March Madness) states, the NCAA organizes competitions for more than 300,000 student athletes, most of which will be going pro in something other than...Read more