Point Spreads versus Odds
Bibliographic Data
| ID | 10175604 |
|---|---|
| Authors | Gilbert W Bassett (0000-0002-0974-7704, corresponding author), Gilbert W Bassett Gilbert W Bassett |
| Year | 1981 |
| Volume | 89 |
| Issue | 4 |
| Pages | 752-768 |
| Publication date | 1981-08-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/261001 |
| OpenAlex | W2149610231 |
| Language | EN |
| Citations received | 1 |
| References cited | 2 |
Why do bookies use the point-spread device for wagering on football games when odds betting on the winner is also feasible? One possibility is that point-spread betting is more fun than odds betting. The existence of point spreads, however, does not logically entail this "more fun" explanation. Given simple specifications of beliefs and betting behavior, and given that point spreads and odds are equally thrilling, it is demonstrated that the point-spread game can exist as the game produced by a profit-maximizing bookie. The disparate beliefs which create the demand for some form of betting market can also explain the particular betting game produced by the bookie
Econometrics · Economics · Logistic regression · Mathematical economics · Microeconomics · Odds · Point (geometry · Profit (economics · Simple (philosophy · Statistics · Mathematics · Sports Analytics and Performance
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,03 |
| Citation span | 1991 - 1991 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |