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WAGERBIRD® Alpha Academy · SMT 101 Principles of Sports Markets
Included with every Alpha Terminal plan
Lesson 07

Market Efficiency and the Closing Price

By the time a market closes, its price reflects nearly all the information and positions that arrived after the open. This lesson explains why the closing price is the market's best estimate, and how to compare a position's price with it.

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SMT 101 · Principles of Sports Markets (9 lessons)Full course syllabus ↗
  1. 01Market Structure and SettlementRead ↗
  2. 02Market Types and PayoffsRead ↗
  3. 03Price Notation (American, Decimal and Fractional)Read ↗
  4. 04Implied ProbabilityRead ↗
  5. 05Operator MarginRead ↗
  6. 06Price Formation and MovementRead ↗
  7. 07Market Efficiency and the Closing PriceRead ↗
  8. 08Position Sizing and Capital AllocationRead ↗
  9. 09Applied Session: The Odds Screen and the BoardRead ↗