We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Hot Hand or Invisible Hand: Which Grips the Football Betting Market?
- Authors
Kochman, Ladd; Gilliam, Ken; Bray, David
- Abstract
Betting that winning streaks against the point spread will end for teams in the National Football League over the 1993-2015 seasons produced wins-to-bets ratios that veered sharply from the results obtained from the same strategy used for the 1983-1992 period and suggest that the football betting market is more likely governed by the invisible hand than by the hot hand. Our wins-to-bets ratios of 48.8 percent (vs. three-game streaks), 52.1 percent (vs. four-game streaks) and 46.6 percent (vs. five-game streaks) are characteristic of a market populated by the independent and profit-maximizing participants envisioned by Adam Smith.
- Subjects
NATIONAL Football League; SPORTS betting; SMITH, Adam; FOOTBALL teams; SPORTS teams
- Publication
Southern Business & Economic Journal, 2017, Vol 40, Issue 2, p49
- ISSN
0743-779X
- Publication type
Article