This investigation tests the Efficient Market Hypothesis (EMH) in the National Football League (NFL) wagering market from 2002 to 2009. The current study examines simple betting strategies tested previously in the NFL and other sports leagues as well as whether there is a bias in games after a team’s bye week. The findings suggest that favorites and especially road team favorites following a bye week won statistically more bets than their opponents. Although the majority of our analysis supported the EMH, the exceptions provide evidence of inefficiencies in the NFL betting market.
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