Bettor Misperceptions in the NBA
Rodney Paul and
Andrew Weinbach
Journal of Sports Economics, 2005, vol. 6, issue 4, 390-400
Abstract:
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 a fair bet but is also shown to reject the null of no profitability. In addition, betting against winning streaks, as first suggested in the “hot-hand†article of Camerer and later tested by Brown and Sauer, is also shown to be profitable.
Keywords: efficient markets; gambling; sports (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jospec:v:6:y:2005:i:4:p:390-400
DOI: 10.1177/1527002504266861
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