Contextual Gambles Bias Odds in Sports Betting Markets

Andrew Meyer, Yale University, USA
C. Sean Hundtofte, Yale University, USA
Shane Frederick, Yale University, USA
We increase demand for a focal gamble by adding a lower-payout gamble to a menu of bets. We then show that odds in actual sports betting markets are biased by this same context effect: gambles were less profitable to the bettor when lower return bets were salient during betting.
[ to cite ]:
Andrew Meyer, C. Sean Hundtofte, and Shane Frederick (2015) ,"Contextual Gambles Bias Odds in Sports Betting Markets", in NA - Advances in Consumer Research Volume 43, eds. Kristin Diehl and Carolyn Yoon, Duluth, MN : Association for Consumer Research, Pages: 265-269.