@@ -163,6 +163,18 @@ The de-vigged ex-ante object is our primary measurement; the **ex-post realised*
163163skewness (the skewness of actual returns) is a robustness check that should
164164coincide with it under well-calibrated odds.
165165
166+ ### 3.4 A sport-agnostic canonical layer
167+
168+ The measurement needs, per bet, only a de-vigged probability * p* , a decimal odd * o*
169+ and a realised outcome. We therefore factor the analysis behind a canonical data layer
170+ (` skewlib/canonical.py ` ; the contract is documented in ` docs/DATA-SCHEMA.md ` ): a
171+ per-sport * adapter* maps a raw source to a tidy long form — declaring the outcome
172+ taxonomy (the number of outcomes, and whether a draw exists) and de-vigging the odds —
173+ after which the same selection, decomposition and skew-meter code runs unchanged,
174+ whatever the sport or market width. The football 1X2 path reproduces the legacy numbers
175+ bit-for-bit; the same layer drives the external-validity analysis of §4.9 (tennis,
176+ basketball) without touching the core.
177+
166178## 4. Results
167179
168180### 4.1 The mechanical core (Figure 1, Figure 3)
@@ -228,7 +240,7 @@ drift of ≈ +0.003 against a between-league standard deviation of 0.052.
228240
229241A high * p* -value, however, is only a failure to reject a trend, not evidence of its
230242absence. We therefore test temporal invariance as an ** equivalence** hypothesis
231- (two one-sided tests; Figure 20). Pre-registering the same margin used for the
243+ (two one-sided tests, TOST [ Schuirmann 1987; Lakens 2017 ] ; Figure 20). Pre-registering the same margin used for the
232244similarity analysis below (§4.8) — half a between-league standard deviation,
233245Δ = 0.026, read as the largest twenty-year drift we would treat as negligible — the
234246slope's 90% confidence interval falls strictly inside [ −Δ, +Δ] , rejecting the
@@ -420,6 +432,31 @@ therefore, to first order, the similarity of competitiveness: measurable with on
420432parameter, made exact by the full probability distribution, and verdicted by an
421433equivalence test rather than a null-rejection.
422434
435+ ### 4.9 External validity: one law across three sports (Figure 19)
436+
437+ Our evidence so far is from football and, mostly, the three-outcome 1X2 contract. To
438+ separate the structural claim from anything idiosyncratic to that sport or that market,
439+ we port the analysis — through the canonical layer of §3.4, with no change to the core —
440+ to two further sports whose odds come from independent providers. ** Tennis**
441+ (tennis-data.co.uk, ATP and WTA, 62,865 matches) is a two-outcome match-odds market with
442+ no draw; ** basketball** (sportsbookreviewsonline.com, NBA, sixteen seasons, 19,621
443+ games) is a two-outcome moneyline market, also with no draw.
444+
445+ In both, the de-vig stays calibrated out of sample (mean favourite probability 0.688 vs
446+ realised 0.692 in tennis; 0.694 vs 0.685 in basketball, the residual gap being the
447+ favourite–longshot bias itself), so the implied distribution is trustworthy out of
448+ domain. And in both the structural law reappears at full strength: the favourite bet is
449+ most negative where the competition is most lopsided — corr(skewness, competitiveness) =
450+ −1.00 (ATP) and −0.98 (WTA) across tournament tiers, and −0.95 across NBA seasons,
451+ against −0.90 in football — while the underdog is lottery-like at +2.31 (tennis) and
452+ +2.61 (basketball), all but identical to football's +2.35. Placed on a single
453+ competitiveness axis (Figure 19), the three sports trace one curve: football at the
454+ balanced end, tennis and basketball overlapping in the more lopsided regime, the
455+ favourite falling and the underdog rising with imbalance throughout. The asymmetry is
456+ not an artefact of the 1X2 contract, of the football-data source, or of association
457+ football — it is a property of the sport as a competitive system, exactly as the
458+ mechanism of §5 predicts.
459+
423460## 5. Mechanism
424461
425462The results cohere under one principle. The skewness of a fixed-odds bet is the
@@ -605,29 +642,13 @@ still (Bosman 1995, the Champions League expansion of 1994/95), and 1X2 odds do
605642exist before ≈ 2000, so the prediction that the * baseline itself* shifts across those
6066431990s shocks remains beyond the reach of betting data.
607644
608- ** External validity.** A natural objection is that our evidence is from a single
609- sport, and might reflect something idiosyncratic to football or to the three-outcome
610- 1X2 contract rather than to competition itself. We address this directly. The analysis
611- machinery requires, per bet, only a de-vigged probability, a decimal odd and an
612- outcome; we therefore factor it behind a sport-agnostic canonical layer
613- (` skewlib/canonical.py ` ; data contract in ` docs/DATA-SCHEMA.md ` ) and port it,
614- unchanged, to two further sports whose odds come from independent
615- providers. ** Tennis** (tennis-data.co.uk, ATP and WTA, 62,865 matches) is a
616- two-outcome match-odds market with no draw; ** basketball** (sportsbookreviewsonline.com,
617- NBA, sixteen seasons, 19,621 games) is a two-outcome moneyline market, also with no
618- draw. In both, the de-vig remains calibrated out of sample (mean favourite probability
619- 0.688 vs realised 0.692 in tennis; 0.694 vs 0.685 in basketball, the residual being the
620- favourite–longshot bias itself), so the implied distribution is trustworthy. And in
621- both, the structural law reappears at full strength: the favourite bet is most negative
622- where the competition is most lopsided — corr(skewness, competitiveness) = −1.00 (ATP)
623- and −0.98 (WTA) across tournament tiers, and −0.95 across NBA seasons, against −0.90 in
624- football — while the underdog is lottery-like at +2.31 (tennis) and +2.61 (basketball),
625- all but identical to football's +2.35. Placed on a single competitiveness axis
626- (Figure 19), the three sports trace one curve: football at the balanced end, tennis
627- and basketball overlapping in the more lopsided regime, the favourite falling and the
628- underdog rising with imbalance throughout. The asymmetry is not an artefact of the 1X2
629- contract, of the football-data source, or of association football — it is a property of
630- the sport as a competitive system, exactly as the mechanism predicts.
645+ The structural reading also makes a portable prediction, which §4.9 confirms: ported
646+ unchanged to tennis and basketball — different sports, two-outcome markets with no draw,
647+ independent odds sources — the same law reappears (the favourite's skewness falling with
648+ competitiveness, the underdog lottery-like near +2.3 to +2.6, the de-vig still
649+ calibrated out of domain). The asymmetry is therefore a property of the sport as a
650+ competitive system, not an artefact of the 1X2 contract or of football — which is what a
651+ mechanism rooted in the win-probability distribution, rather than in pricing, predicts.
631652
632653## 8. Conclusion
633654
@@ -793,13 +814,19 @@ copy-edit: convert to numbered Vancouver style and add DOIs.*
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795816 Risk Assets.* Journal of Finance.
817+ - Lakens, D. (2017). * Equivalence Tests: A Practical Primer for t Tests,
818+ Correlations, and Meta-Analyses.* Social Psychological and Personality Science
819+ 8(4):355–362.
796820- Lee, Y. H. & Fort, R. (2012). * Competitive balance: time series lessons from the
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798822- Nash, J. (2018). * A formal approach to modelling the characteristics of sports
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827+ - Schuirmann, D. J. (1987). * A comparison of the two one-sided tests procedure and
828+ the power approach for assessing the equivalence of average bioavailability.*
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803830- Shin, H. S. (1993). * Measuring the Incidence of Insider Trading in a Market for
804831 State-Contingent Claims.* Economic Journal 103(420):1141–1153.
805832- Snowberg, E. & Wolfers, J. (2010). * Explaining the Favorite–Longshot Bias: Is it
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