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Point spread shading and behavioral biases in NBA betting markets
Humphreys, Brad R. - In: Rivista di Diritto ed Economia dello Sport 6 (2010) 1, pp. 13-26
Introduction – 1. A Simple model of sports book operation - 2. Data description - 3. Evidence of shading in NBA point spread betting - 4. Discussion and conclusions - References
Persistent link: https://www.econbiz.de/10008621831
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THE KELLY CAPITAL GROWTH INVESTMENT CRITERION:Theory and Practice
MacLean, Leonard C (contributor);  … - World Scientific Publishing Co. Pte. Ltd.
This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function....
Persistent link: https://www.econbiz.de/10010883063
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The Belief in the "Hot Hand" in the NFL: Evidence from Betting Volume Data
Paul, Rodney Joseph; Weinbach, Andrew; Humphreys, Brad - Department of Economics, University of Alberta - 2011
-- exists in the NBA but not the NFL. Previous research assumed that book makers set point spreads to balance betting on games … hand” in the NFL exists, although simple strategies of betting against teams on a winning streak does not lead to excess …
Persistent link: https://www.econbiz.de/10011266413
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Consumption benefits and gambling: Evidence from the NCAA basketball betting market
Humphreys, Brad R.; Paul, Rodney J.; Weinbach, Andrew P. - In: Journal of Economic Psychology 39 (2013) C, pp. 376-386
The utility of gambling model posits that consumption benefits lead rational agents to gamble when faced with negative expected financial returns. We analyze the determinants of bet volume and dollars bet on NCAA basketball games from three on-line sports books to test the predictions of this...
Persistent link: https://www.econbiz.de/10010870872
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Consumption Benefits and Gambling: Evidence From the NCAA Basketball Betting Market
Humphreys, Brad; Paul, Rodney Joseph; Weinbach, Andrew - Department of Economics, University of Alberta - 2010
The determinants of the total number of bets placed on games from three on-line sports books are analyzed for the 2008‐9 NCAA basketball season. Betting volume depends on television coverage, temporal factors, the quality of the teams, and the expected closeness of the contest. Our results...
Persistent link: https://www.econbiz.de/10008487600
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Evidence of Betting Market Intraseason Efficiency and Interseason Overreaction to Unexpected NFL Team Performance 1988-2006
Sapra, Steven G. - In: Journal of Sports Economics 9 (2008) 5, pp. 488-503
that NFL wagering markets were efficient within season during the period 1988-2006 and that the point spread is a … statistically significant indicator of probability of victory. A team-level excess performance metric is estimated, termed an NFL …, it is shown that there exists a market overreaction effect for NFL Alphas across seasons. …
Persistent link: https://www.econbiz.de/10010778350
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Risky Curves: From Unobservable Utility to Observable Opportunity Sets
Friedman, Daniel; Sunder, Shyam - Cowles Foundation for Research in Economics, Yale University - 2011
Most theories of risky choice postulate that a decision maker maximizes the expectation of a Bernoulli (or utility or similar) function. We tour 60 years of empirical search and conclude that no such functions have yet been found that are useful for out-of-sample prediction. Nor do we find...
Persistent link: https://www.econbiz.de/10009251218
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Exuberance out of left field: Do sports results cause investors to take their eyes off the ball?
Pantzalis, Christos; Park, Jung Chul - In: Journal of Economic Behavior & Organization 107 (2014) PB, pp. 760-780
sentiment. We measure sports sentiment by the performance of sports teams from the four major professional sports leagues (NFL …
Persistent link: https://www.econbiz.de/10011116847
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Measuring and Forecasting Fan Interest in NFL Football Games
Paul, Rodney; Wachsman, Yoav; Weinbach, Andrew - In: Journal of Gambling Business and Economics 6 (2012) 3, pp. 34-46
This study examines the relationship between NFL game characteristics and the frequency of fan ratings on the NFL …’s website (www.NFL.com). The margin of victory and overall total points scored in a game are shown to be significant …
Persistent link: https://www.econbiz.de/10010850174
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Bettor Biases and the ‘Home-Underdog’ Bias in the NFL
Humphreys, Brad R.; Paul, Rodney J.; Weinbach, Andrew P. - In: International Journal of Sport Finance 8 (2013) 4, pp. 294-311
Betting strategies based on the presence of home-underdog bias in the NFL have been shown to produce returns in excess …
Persistent link: https://www.econbiz.de/10010905483