Krieger, Kevin; Fodor, Andy; Stevenson, Greg - In: Journal of Sports Economics 14 (2013) 2, pp. 186-202
Levitt demonstrates that, contrary to conventional wisdom, sports books may not try to balance the money wagered on the sides of a game but instead exploit preferences of bettors in order to maximize expected profits. Levitt’s findings are based on unique data from a wagering contest of...