  The outbreak of COVID-19 in March 2020 led to a shutdown of economic
activities in Europe. This included the sports sector, since public gatherings
were prohibited. The German Bundesliga was among the first sport leagues
realising a restart without spectators. Several recent studies suggest that the
home advantage of teams was eroded for the remaining matches. Our paper
analyses the reaction by bookmakers to the disappearance of such home
advantage. We show that bookmakers had problems to adjust the betting odds in
accordance to the disappeared home advantage, opening opportunities for
profitable betting strategies.
