In this paper the author examines the market
efficiencies that can be seen in the national football league. In particular,
he looks at the wagering systems that are used. He examines a few case studies, and uses these to try and explain how the odds and
efficiencies of the markets are determined. He especially relates all of his points to wagering on
football games, looking at all of the elements which will add to efficiencies of betting. Further to this, the author looks at the stock market, taking certain examples to emphasize his discussions. In conclusion, the author summarizes the two main theories of market efficiencies, the random walk theory and select strategies. Table of Contents Efficiency and Football Wagering Additional Evidence of Inefficiency From Bachelier to Bookmakers