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Home bias in sport betting: Evidence from Czech betting market

Author

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  • Rostislav StanÄ›k

Abstract

In sport betting, bettors exhibit home bias when they tend to bet on their home team more often. The paper offers a straightforward method of empirical identification of the home bias in the real-world betting market. Using Czech betting data on the league and the national ice-hockey matches, the paper provides support for the existence of the home bias in the Czech betting market.

Suggested Citation

  • Rostislav StanÄ›k, 2017. "Home bias in sport betting: Evidence from Czech betting market," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 12(2), pages 168-172, March.
  • Handle: RePEc:jdm:journl:v:12:y:2017:i:2:p:168-172
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    References listed on IDEAS

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    4. J. Edward Russo & Jonathan C. Corbin, 2016. "Not by desire alone: The role of cognitive consistency in the desirability bias," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 11(5), pages 449-459, September.
    5. Braun, Sebastian & Kvasnicka, Michael, 2013. "National Sentiment and Economic Behavior: Evidence From Online Betting on European Football," EconStor Open Access Articles, ZBW - Leibniz Information Centre for Economics, pages 45-64.
    6. John R. Graham & Campbell R. Harvey & Hai Huang, 2009. "Investor Competence, Trading Frequency, and Home Bias," Management Science, INFORMS, vol. 55(7), pages 1094-1106, July.
    7. David Forrest & Robert Simmons, 2008. "Sentiment in the betting market on Spanish football," Applied Economics, Taylor & Francis Journals, vol. 40(1), pages 119-126.
    8. Norman Strong & Xinzhong Xu, 2003. "Understanding the Equity Home Bias: Evidence from Survey Data," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 307-312, May.
    9. Erik Snowberg & Justin Wolfers, 2010. "Explaining the Favorite-Long Shot Bias: Is it Risk-Love or Misperceptions?," Journal of Political Economy, University of Chicago Press, vol. 118(4), pages 723-746, August.
    10. Heath, Chip & Tversky, Amos, 1991. "Preference and Belief: Ambiguity and Competence in Choice under Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 4(1), pages 5-28, January.
    11. Steven D. Levitt, 2004. "Why are gambling markets organised so differently from financial markets?," Economic Journal, Royal Economic Society, vol. 114(495), pages 223-246, April.
    12. Page, Lionel, 2009. "Is there an optimistic bias on betting markets?," Economics Letters, Elsevier, vol. 102(2), pages 70-72, February.
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    Keywords

    home bias; betting market; sentimental betting;

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