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The Determinants of Betting Volume for Sports in North America: Evidence of Sports Betting as Consumption in the NBA and NHL

Author

Listed:
  • Rodney J. Paul

    (St. Bonaventure University)

  • Andrew P. Weinbach

    (Coastal Carolina University)

Abstract

The National Basketball Association (NBA) and National Hockey League (NHL) are studied to ascertain the determinants of betting volume on an individual game-to-game basis. Actual betting volume was obtained and aggregated across three on-line sportsbooks for the 2008-09 season. Independent variables such as the quality of teams, television coverage by network, day of the week, time of day, month of the season, etc. are included in a regression model to determine the factors that influence betting volume. The results reveal betting behavior is much like fan behavior as key fan-attributes, such as the quality of teams and the availability of television coverage, are shown to have a positive and significant effect on betting volume. The results imply that consumption plays a major role in the decision to gamble on sports. Pure investment-based gambling appears to be the exception, rather than the norm. The implication of this result as it relates to models of sportsbook behavior is explored.

Suggested Citation

  • Rodney J. Paul & Andrew P. Weinbach, 2010. "The Determinants of Betting Volume for Sports in North America: Evidence of Sports Betting as Consumption in the NBA and NHL," International Journal of Sport Finance, Fitness Information Technology, vol. 5(2), pages 128-140, May.
    • Handle: RePEc:jsf:intjsf:v:5:y:2010:i:2:p:128-140
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    More about this item

    Keywords

    sports betting; efficient markets; consumption; television;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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