“ A Test of Efficiency in NBA Point Spread Markets,” Pages 1–2 (Pages 7–8 of PDF).Īstellas Pharma, via SSRN.
OhioLINK (Ohio Library and Information Network), Electronic Theses & Dissertations Center. If, for example, a football game had a money line of Team A (+150) and Team B (-170), then the bettor immediately knows a couple of things: Team B is expected to win, and a bet on it will also pay out less, because it is favored. Bookmakers separate out teams into favorites and underdogs. There’s a negative integer for the team considered more likely to win (the favorite) and a positive integer for the one considered more likely to lose (the underdog).
The “money line,” in betting terminology, refers to the integers that show the payoffs for betting on a game. The term “money line” represents the payouts for winning the bet, with a negative integer for the underdog and a positive one for the favorite.
