Betting market efficiency

Betting market efficiency refers to how well the odds set by bookmakers reflect the true probabilities of outcomes in events, such as sports games. In an efficient market, all available information is quickly incorporated into the odds, making it difficult for bettors to find consistent winning opportunities. When information changes, the odds adjust, ensuring they accurately represent the likelihood of different outcomes. If the market is inefficient, some bettors may exploit mispriced odds for profit, indicating that the market has not fully absorbed all relevant information. Efficient betting markets help ensure fairness and competitiveness.