IDEAS home Printed from
   My bibliography  Save this article

Are Behavioral Biases Consistent Across the Atlantic?: The Over/Under Market for European Soccer


  • Rodney J. Paul
  • Andrew P. Weinbach


Tests of the totals (Over/Under) market are performed for 22 European Soccer Leagues to determine if the behavioral biases found in North American sports betting markets are present in European Football (Soccer) betting markets. Even though European fans passionately follow a low-scoring sport, bettors/fans in this market still appear to prefer the over to the under. Simple betting strategies based on betting the over lose more than twice as much money as a simple strategy of betting the under and returns are found to be statistically different from a fair bet. In addition, when the over is the longshot, a favorite-longshot bias is found such that losses on the over are extremely high. When the under is the longshot, however, losses are nearly equal between overs and unders. This presents the possibility multiple behavioral biases may exist in the same financial market, with the presence of one possibly masking the other.

Suggested Citation

  • Rodney J. Paul & Andrew P. Weinbach, 2009. "Are Behavioral Biases Consistent Across the Atlantic?: The Over/Under Market for European Soccer," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 3(2), pages 89-101, September.
  • Handle: RePEc:buc:jgbeco:v:3:y:2009:i:2:p:89-101

    Download full text from publisher

    File URL:
    Download Restriction: no

    Other versions of this item:

    More about this item



    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:buc:jgbeco:v:3:y:2009:i:2:p:89-101. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.