Paul, Rodney J.; Weinbach, Andrew P. - In: Journal of Sports Economics 6 (2005) 4, pp. 390-400
Systematic bettor misperceptions are found in the NBA point spread gambling market for the seasons of 1995-1996 to 2001-2002. Evidence of the overbetting of favorites is found, with a strategy of betting big underdogs rejecting the null of a fair bet. Betting big home underdogs not only rejects...