Metrics
1 File views/ downloads
91 Record Views
Journal article
The sensitivity of findings of expected bookmaker profitability
Journal of sports economics, Vol.14(2), pp.186-202
14
2013
Web of Science ID: WOS:000318572600005
Abstract
Levitt demonstrates that, contrary to conventional wisdom, sports books may not try to balance the money wagered on the sides of a game but instead exploit preferences of bettors in order to maximize expected profits. Levitt’s findings are based on unique data from a wagering contest of the 2002 National Football League (NFL) season. Reconsideration based on 2004-2010 data from a similar contest yields findings of a dramatically smaller increase in expected profitability from strategic line making. Additionally, the traditional underperformance of favorites in athletic wagering may have somewhat subsided, which would also imply reduced bookmaker profits compared to those Levitt reports.
Details
- Title
- The sensitivity of findings of expected bookmaker profitability
- Publication Details
- Journal of sports economics, Vol.14(2), pp.186-202
- Resource Type
- Journal article
- Publisher
- Sage Publications, Inc.; United States
- Series
- 14
- Format
- pdf
- Copyright
- © 2011 The authors. Permission granted to the University of West Florida Libraries to digitize and/or display this information for non-profit research and educational purposes. Any reuse of this item in excess of fair use or other copyright exemptions requires the permission of the copyright holder.
- Identifiers
- WOS:000318572600005; 99380090332306600
- Academic Unit
- Accounting and Finance; Lewis Bear Jr. College of Business
- Language
- English