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Wagering Preferences Of Nfl Bettors: Determinants Of Betting Volume

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  • Rodney J Paul
  • Andrew Weinbach

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.

Suggested Citation

  • Rodney J Paul & Andrew Weinbach, 2012. "Wagering Preferences Of Nfl Bettors: Determinants Of Betting Volume," Journal of Prediction Markets, University of Buckingham Press, vol. 6(1), pages 42-55.
    • Handle: RePEc:buc:jpredm:v:6:y:2012:i:1:p:42-55
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    Cited by:

    1. Ryan Rodenberg, 2013. "Employee Discipline And Basketball Referees: A Prediction Market Approach," Journal of Prediction Markets, University of Buckingham Press, vol. 7(2), pages 43-54.
    2. Rodney Paul & Andrew P. Weinbach & Kenneth Small, 2014. "The Relationship between Sportsbook Volume, Forecast Accuracy, and Market Efficiency: The NFL and NCAA Football," Journal of Prediction Markets, University of Buckingham Press, vol. 8(2), pages 29-42.
    3. Philip W. S. Newall & Dominic Cortis, 2021. "Are Sports Bettors Biased toward Longshots, Favorites, or Both? A Literature Review," Risks, MDPI, vol. 9(1), pages 1-9, January.

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    JEL classification:

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

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