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Applied Economics Volume 34, 2002 - Issue 10
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Original Articles

Re-examining the betting market on Major League Baseball games: is there a reverse favourite-longshot bias?

J. M. Gandar
,
Richard A. Zuber
,
R. S. Johnson
&
W. Dare
Pages 1309-1317 | Published online: 04 Oct 2010

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Matt E. Ryan & Jackson Celestin. (2018) Game over? Assessing the impact of the emergence of a profitable wagering strategy in major league baseball wagering markets. Applied Economics 50:37, pages 3979-3991.
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Christian Deutscher, Bernd Frick & Marius Ötting. (2018) Betting market inefficiencies are short-lived in German professional football. Applied Economics 50:30, pages 3240-3246.
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J. Eric Bickel & Seong Dae Kim. (2014) Re-examining the efficiency of the Major League Baseball over-under betting market. Applied Financial Economics 24:18, pages 1229-1234.
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R. Alan Bowman, Thomas Ashman & James Lambrinos. (2013) Prospective measures of competitive balance: application to money lines in major league baseball. Applied Economics 45:29, pages 4071-4081.
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Matt E. Ryan, Marshall Gramm & Nicholas McKinney. (2012) Information effects in major league baseball betting markets. Applied Economics 44:6, pages 707-716.
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Richard A. Zuber , Patrick Yiu, Reinhold P. Lamb & John M. Gandar. (2005) Investor–fans? An examination of the performance of publicly traded English Premier League teams. Applied Financial Economics 15:5, pages 305-313.
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Articles from other publishers (28)

Jay Simon. (2024) Inefficient Forecasts at the Sportsbook: An Analysis of Real-Time Betting Line Movement. Management Science.
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Vojtěch Kotrba. (2024) Heuristics in highly competitive game: evidence from the fantasy National Hockey League. Movement & Sport Sciences - Science & Motricité.
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James Nutaro. (2023) Prospect Theory and the Favorite Long-Shot Bias in Baseball. Risks 11:5, pages 95.
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Jeremy M. Losak, Andrew P. Weinbach & Rodney J. Paul. (2022) Behavioral Biases in Daily Fantasy Baseball: The Case of the Hot Hand. Journal of Sports Economics 24:3, pages 374-401.
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Kevin Sweeney, M. H. Tuttle & M. Douglas Berg. (2019) Esports Gambling: Market Structure and Biases. Games and Culture 16:1, pages 65-91.
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Dmitry Dagaev & Egor Stoyan. (2020) Parimutuel betting on the eSports duels: Evidence of the reverse favourite-longshot bias. Journal of Economic Psychology 81, pages 102305.
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Andrés Barge-Gil & Alfredo Garcia-Hiernaux. (2020) Staking in Sports Betting Under Unknown Probabilities: Practical Guide for Profitable Bettors. Journal of Sports Economics 21:6, pages 593-609.
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Jason P. Berkowitz, Craig A. DepkenIIII & John M. Gandar. (2017) The Conversion of Money Lines Into Win Probabilities. Journal of Sports Economics 19:7, pages 990-1015.
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Jason P. Berkowitz, Craig A. DepkenIIII & John M. Gandar. (2017) A favorite-longshot bias in fixed-odds betting markets: Evidence from college basketball and college football. The Quarterly Review of Economics and Finance 63, pages 233-239.
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Rodney Paul, Colby Conetta & Jeremy Losak. (2016) Betting market prices, outcome uncertainty, and hockey attendance in Russia, Sweden, and Finland. Managerial Finance 42:9, pages 852-865.
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Benjamin Waggoner, Daniel Wines, Brian Soebbing, Chad Seifried & Jean Martinez. (2014) “Hot Hand” in the National Basketball Association Point Spread Betting Market: A 34-Year Analysis. International Journal of Financial Studies 2:4, pages 359-370.
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Brad R Humphreys, Rodney J Paul & Andrew Weinbach. (2013) Understanding Price Movements in Point-Spread Betting Markets: Evidence from NCAA Basketball. Eastern Economic Journal 40:4, pages 518-534.
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Rodney J. Paul & Andrew P. Weinbach. (2011) Baseball. Journal of Sports Economics 14:2, pages 115-132.
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Greg Durham & Mukunthan Santhanakrishnan. (2011) Point-Spread Wagering Markets' Analogue to Realized Return in Financial Markets. Journal of Sports Economics 13:5, pages 554-566.
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Rodney J. Paul & Andrew P. Weinbach. (2009) Sportsbook pricing and the behavioral biases of bettors in the NHL. Journal of Economics and Finance 36:1, pages 123-135.
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Rodney J. PaulAndrew P. Weinbach. (2010) Investigating Allegations of Pointshaving in NCAA Basketball Using Actual Sportsbook Betting Percentages. Journal of Sports Economics 12:4, pages 432-447.
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Linda M. WoodlandBill M. Woodland. (2010) The Reverse Favorite-Longshot Bias in the National Hockey League: Do Bettors Still Score on Longshots?. Journal of Sports Economics 12:1, pages 106-117.
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H.O. Stekler, David Sendor & Richard Verlander. (2010) Issues in sports forecasting. International Journal of Forecasting 26:3, pages 606-621.
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Rodney J. PaulAndrew P. Weinbach. (2007) Line Movements and Market Timing in the Baseball Gambling Market. Journal of Sports Economics 9:4, pages 371-386.
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Adi Schnytzer & Guy Weinberg. (2007) Testing for Home Team and Favorite Biases in the Australian Rules Football Fixed-Odds and Point Spread Betting Markets. Journal of Sports Economics 9:2, pages 173-190.
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Rodney J. Paul & Andrew P. Weinbach. (2016) Bettor Misperceptions in the NBA. Journal of Sports Economics 6:4, pages 390-400.
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Leighton Vaughan Williams. 2009. Information Efficiency in Financial and Betting Markets. Information Efficiency in Financial and Betting Markets 84 122 .
Rodney Paul & Andrew Weinbach. (2005) Market efficiency and NCAA college basketball gambling. Journal of Economics and Finance 29:3, pages 403-408.
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John M. Gandar, Richard A. Zuber & R. Stafford Johnson. (2016) A Reexamination of the Efficiency of the Betting Market on National Hockey League Games. Journal of Sports Economics 5:2, pages 152-168.
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John M. Gandar & Richard A. Zuber. (2016) An Evaluation of the Debate Over “Testing Market Efficiency in the Major League Baseball Over-Under Betting Market”. Journal of Sports Economics 5:1, pages 100-105.
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Alexander K. Koch & Hui-Fai Shing. (2007) Bookmaker and Pari-Mutuel Betting: Is a (Reverse) Favourite-Longshot Bias Built-In?. SSRN Electronic Journal.
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Jason P. Berkowitz, Craig A. Depken & John Gandar. (2015) Estimating Subjective Win Probabilities from Money Lines. SSRN Electronic Journal.
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Paul Docherty & Stephen Andrew Easton. (2011) Market Efficiency and Continuous Information Arrival: Evidence from Prediction Markets. SSRN Electronic Journal.
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