{"title":"论体育博彩与结果的不确定性","authors":"Thomas J. Miceli","doi":"10.32731/ijsf/182.052023.04","DOIUrl":null,"url":null,"abstract":"This paper provides an explanation for sports betting that does not appeal to risk-preferring preferences. The strategy is to link betting to the uncertainty of outcome hypothesis, a cornerstone of sports economics. The model relies on the inclusion of a contest utility function as part of a fan’s overall utility. The analysis focuses on point-spread betting and shows that sports fans can increase their contest utility by placing a bet if the contest is unequal and if they are either non-partisan or are sufficiently strong supporters of the underdog. When these conditions are met, an individual will place the bet if the utility gain offsets the expected cost.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":0.9000,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"On Sports Betting and Uncertainty of Outcome\",\"authors\":\"Thomas J. Miceli\",\"doi\":\"10.32731/ijsf/182.052023.04\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper provides an explanation for sports betting that does not appeal to risk-preferring preferences. The strategy is to link betting to the uncertainty of outcome hypothesis, a cornerstone of sports economics. The model relies on the inclusion of a contest utility function as part of a fan’s overall utility. The analysis focuses on point-spread betting and shows that sports fans can increase their contest utility by placing a bet if the contest is unequal and if they are either non-partisan or are sufficiently strong supporters of the underdog. When these conditions are met, an individual will place the bet if the utility gain offsets the expected cost.\",\"PeriodicalId\":45894,\"journal\":{\"name\":\"International Journal of Sport Finance\",\"volume\":\" \",\"pages\":\"\"},\"PeriodicalIF\":0.9000,\"publicationDate\":\"2023-05-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Sport Finance\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.32731/ijsf/182.052023.04\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q4\",\"JCRName\":\"HOSPITALITY, LEISURE, SPORT & TOURISM\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Sport Finance","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.32731/ijsf/182.052023.04","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"HOSPITALITY, LEISURE, SPORT & TOURISM","Score":null,"Total":0}
This paper provides an explanation for sports betting that does not appeal to risk-preferring preferences. The strategy is to link betting to the uncertainty of outcome hypothesis, a cornerstone of sports economics. The model relies on the inclusion of a contest utility function as part of a fan’s overall utility. The analysis focuses on point-spread betting and shows that sports fans can increase their contest utility by placing a bet if the contest is unequal and if they are either non-partisan or are sufficiently strong supporters of the underdog. When these conditions are met, an individual will place the bet if the utility gain offsets the expected cost.
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