Journal of Economics and Finance

, Volume 29, Issue 3, pp 409–415 | Cite as

Bettor preferences and market efficiency in football totals markets

Sports Symposium

Abstract

The betting markets for totals in college football and arena football provide additional evidence of bettor preference for scoring. The results for college football and arena football markets are similar to those found in the professional football and professional basketball totals market. In all of these leagues, the overs are overbet. We suggest that there is a clear preference for bettors to bet the over and the extent of the bias depends upon the volume of uninformed bettors to informed bettors and limits placed on bets in these markets.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Even, W., and N. Noble. 1992. “Testing Efficiency in Gambling Markets.”Applied Economics 24:85–88.CrossRefGoogle Scholar
  2. Gandar, J., R. Zuber, T. O'Brien, and B. Russo. 1988. “Testing Rationality in the Point Spread Betting Market.”Journal of Finance 43:995–1007.CrossRefGoogle Scholar
  3. Hirshleifer, D. 2001. “Investor Psychology and Asset Pricing.”Journal of Finance 56:1533–1597.CrossRefGoogle Scholar
  4. Paul, R., and A. Weinbach. 2002. “Market Efficiency and a Profitable Betting Rule: Evidence from Totals on Professional Football.”Journal of Sports Economics 3:256–263.CrossRefGoogle Scholar
  5. Paul, R., and A. Weinbach. 2004. “Efficient Markets, Fair Bets, and Profitability in NBA Totals 1995–96 to 2001–02.”Quarterly Review of Economics and Finance 44:624–632.CrossRefGoogle Scholar
  6. Roxborough, Roxy, and Mike Rhoden. 1998.Sports Book Management: A Guide for the Legal Bookmaker. Las Vegas, NV: Las Vegas Sports Consultants.Google Scholar
  7. Sauer, R., V. Brajer, S. Ferris, and M. Marr. 1988. “Hold Your Bets: Another Look at the Efficiency of the Betting Market for NFL Games.”Journal of Political Economy 96:206–213.CrossRefGoogle Scholar
  8. Sauer, R. 1998. “The Economics of Wagering Markets.”Journal of Economic Literature 36:2021–2064.Google Scholar

Copyright information

© Springer 2005

Authors and Affiliations

  1. 1.School of BusinessSt. Bonaventure UniversitySt. Bonaventure
  2. 2.Department of EconomicsArmstrong Atlantic State UniversitySavannah

Personalised recommendations