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Bettor Habits When Point Spreads and Money lines are Offered on the Same Game: The NFL

Author

Listed:
  • Rodney Paul
  • Andrew Weinbach
  • Mark Wilson

Abstract

Bettor preferences and returns are examined in the NFL wagering market where both point spread and money line wagers are simultaneously offered. In both markets, the balanced book hypothesis can be soundly rejected, with bettors preferring favorites. Despite the clear difference in how a winning bet on the favorite is achieved in each market, the percentage bet on the favorite in both the point spread and money line markets correspond nearly one-to-one. Biases are most pronounced in certain subsets of the data, where betting against favorites on both the point spread and money line are shown to reject market efficiency.

Suggested Citation

  • Rodney Paul & Andrew Weinbach & Mark Wilson, 2014. "Bettor Habits When Point Spreads and Money lines are Offered on the Same Game: The NFL," Journal of Prediction Markets, University of Buckingham Press, vol. 8(3), pages 57-74.
    • Handle: RePEc:buc:jpredm:v:8:y:2014:i:3:p:57-74
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    Keywords

    Prediction Markets; Literature Review; Streams of Research; Article Classification; Information Markets;
    All these keywords.

    JEL classification:

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

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