However, evidence of ongoing weak-form inefficiencies in sports betting markets exists. As a result, we may anticipate a good level of efficiency to new information in both markets. Sports betting markets are similar to financial markets in that they both feature a large number of greedy players who risk capital, different degrees and types of knowledge, and strong financial incentives to act swiftly and rationally on the best information in marketable circumstances. Sports betting markets have a lot in common with stock markets. This also applies to nonhuman competitions such as greyhound racing, horse racing, and illicit, underground cockfighting. Sports betting may also extend to non-athletic activities such as political elections and reality show competitions. Sports wagered on vary by culture, with the great majority of wagers put on association sports such as mixed martial arts, American football, basketball, baseball, hockey, track cycling, car racing, and boxing at both the personal and amateur levels. Sports betting are the action of forecasting sports events and then wagering on the outcome. Sports betting Market size exceeded USD 76 billion in 2021 and is estimated to achieve over 12.4% CAGR during the forecast period.
