Evidence of bettors’ belief in the “Hot Hand” -- bettors believing teams on winning streaks will continue winning -- exists in the NBA but not the NFL. Previous research assumed that book makers set point spreads to balance betting on games. Recent research shows imbalanced betting in most...

The German sport betting market has traditionally been subjected to a strict regulation. The legal framework valid until the end of 2011 is defined by a state treaty between the federal government and the 16 states (Glücksspielstaatsvertrag), which only allows the public company Oddset to...

This paper sets out to show that a risk-averse sport fanatic could hedge his happiness by betting on the opposition. The literature surrounding happiness, risk- and loss aversion is explored and a model is developed to explain the happiness a fan derives from a match. It is shown that...