Efficient Betting Markets

Efficient betting markets are platforms where odds accurately reflect all available information about an event, ensuring that bets are fair and expectations are aligned with actual chances. In such markets, it's difficult to consistently find bets that are undervalued or overvalued because prices quickly adjust to new data, making it hard to gain an advantage. This concept is similar to efficient financial markets, where asset prices incorporate all known information. Overall, efficient betting markets promote fairness and equilibrium, reflecting true probabilities and reducing arbitrage opportunities.