WAGERING PREFERENCES OF NFL BETTORS: DETERMINANTS OF BETTING VOLUME
Rodney Paul and
Andrew Weinbach
Journal of Prediction Markets, 2012, vol. 6, issue 1, 42-55
Abstract:
Actual betting volume, in terms of the number of bets placed on each game, is studied for the 2008 National Football League season. The dataset includes bets placed through a select group of online sportsbooks, collectively totaling an average of more than 85,000 bets per game. Game-to-game betting volume is shown to be affected by television coverage, as prime-time games on NBC and ESPN have large positive and significant effects. NFL Network coverage, not universally available for viewers, is shown to have a negative and significant effect. Bettors are also shown to prefer matchups between high-quality teams, enjoy uncertainty of outcome, and prefer expected high scoring contests. It appears much of the betting action on NFL football reflects consumption, rather than investment.
JEL-codes: L83 (search for similar items in EconPapers)
Date: 2012
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christopher.woodhead@buckingham.ac.uk
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