1. Open Access Kent State
  2. A Test for Bias of Inherent Characteristics in Betting Markets
Author(s)
Abstract

The authors develop a model to investigate potential biases of inherent characteristics in betting markets. The test requires only that there be both a sides (‘‘spread’’) market and a totals (‘‘over/under’’) market for the game. The authors utilize the model to test for the well-documented ‘‘home-underdog’’ bias in the National Football League (NFL). They show that the bias specifically favors the offense (or defense) of home underdogs (away-favorites), with no bias against the offense (defense) of away favorites (home-underdogs).
Format
Article
Identifier(s)
10.1177/1527002510395864
Publication Date
2011-12-01
Publication Title
Journal of Sports Economics
Volume
12
Issue
6
First Page
660
Last Page
665
Keywords
Subject
Community
Department of Finance
Permalink https://oaks.kent.edu/finpubs/2
Dare, W., & Dennis, S. (2011). A Test for Bias of Inherent Characteristics in Betting Markets. Journal of Sports Economics. https://doi.org/10.1177/1527002510395864
Dare, William, and Steven Dennis. 2011. “A Test for Bias of Inherent Characteristics in Betting Markets”. Journal of Sports Economics. https://doi.org/10.1177/1527002510395864.
Dare, W., and S. Dennis. A Test for Bias of Inherent Characteristics in Betting Markets. Journal of Sports Economics, 1 Dec. 2011, doi:10.1177/1527002510395864.