It's a matter of market size and the inherent goal of the market; The factors are implicitly at odds.
A small market is not at all efficient - it's unlikely to incorporate available information to attain accuracy.
A large market invites manipulation of the event itself - it's auto-corrupting. If ball players make $1M/year and there are easy opportunities to throw a game and make $30M anonymously, then you can expect that the game you're seeing isn't legit.
Arguably (go watch the show 'Billions') this is a big part of how the stock market works as well - insider information is rampant and overwhelming in profitability, and if you believe POSIWID ( https://en.wikipedia.org/wiki/The_purpose_of_a_system_is_wha... ) ... you're probably not doing a whole lot of trading as a personal investor based on publicly available information.
A small market is not at all efficient - it's unlikely to incorporate available information to attain accuracy.
A large market invites manipulation of the event itself - it's auto-corrupting. If ball players make $1M/year and there are easy opportunities to throw a game and make $30M anonymously, then you can expect that the game you're seeing isn't legit.
Arguably (go watch the show 'Billions') this is a big part of how the stock market works as well - insider information is rampant and overwhelming in profitability, and if you believe POSIWID ( https://en.wikipedia.org/wiki/The_purpose_of_a_system_is_wha... ) ... you're probably not doing a whole lot of trading as a personal investor based on publicly available information.