Consumption benefits and gambling: Evidence from the NCAA basketball betting market

被引：24
|
作者：
Humphreys, Brad R. [1 ]
Paul, Rodney J. [2 ]
Weinbach, Andrew P. [2 ]
机构：
[1] Univ Alberta, Dept Econ, Edmonton, AB T6G 2H4, Canada
[2] Coastal Carolina Univ, E Craig Wall Coll Business Adm, Dept Accounting Finance & Econ, Conway, SC 29528 USA
来源：
JOURNAL OF ECONOMIC PSYCHOLOGY | 2013年 / 39卷
关键词：
Gambling; Sports betting; Bet volume; Dollars bet; Consumption value; RISK; EFFICIENCY; UTILITY;
D O I：
10.1016/j.joep.2013.05.010
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The utility of gambling model posits that consumption benefits lead rational agents to gamble when faced with negative expected financial returns. We analyze the determinants of bet volume and dollars bet on NCAA basketball games from three on-line sports books to test the predictions of this model. Betting action depends on television coverage, team quality, and the expected closeness of the contest. Our results support the notion that consumption benefits, not financial gain, motivate gambling. Preferences of bettors appear similar to those of sports fans, suggesting that models of gamblers as wealth-maximizing investors may not explain observed betting behavior. (C) 2013 Elsevier B.V. All rights reserved.
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页码：376 / 386
页数：11
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