This paper examines price efficiency and out-of-sample predictability in the NFL point spread betting market. Our main contribution to the existing literature is the identification of a persistent increase in bias magnitude during the final few weeks of each season. We demonstrate that this...

Prior academic studies find that bets on underdogs persistently win more often than expected in NFL and NCAA football gambling markets. We extend this stream of literature by examining this ‘underdog bias' in the market for Arena Football League (AFL) bets, a setting in which both betting...

We examine the effects of variations in player compensation on NFL franchise performance from 1994 to 2004. Evidence shows that team success depends significantly upon both the actual and perceived fairness of pay distribution. Specifically, proficiency relative to that of competitors is high...

We explore the financial value of NCAA football recruits and establish a wage schedule based on the star ratings assigned to high school athletes by an independent talent evaluation agency. Evidence suggests that the contribution of higher-ranking recruits to team wins significantly increases...