So basically the sample size isn't big enough

If the entire population predicted where each team would finish in the league we would be the (20-n+1)th favourites to win the league if we were nth favourites to get relegated.

But because the punters that bet on the winning team and relegated teams aren't enough to produce efficient bookmaking markets (law of large numbers, central limit theorem etc) and/or aren't consistent in their betting in relation to which teams they think will get relegated vs. which will win the league (I could bet on Chelsea to win the league and in a separate bet, bet on them to get relegated too)

Posted By: essexcanaryOTBC, Sep 13, 17:28:41