Document Type
Article
Publication Date
12-1-2014
Abstract
Several articles have looked at factors that affect the adjustments of point spreads, based on hot hands or streaks, for smaller durations of time. This study examines these effects for 34 regular seasons in the National Basketball Association (NBA). Estimating a Seemingly Unrelated Regression model using all 34 seasons, all streaks significantly impacted point spreads and difference in actual points. When estimating each season individually, differences emerged particularly examining winning and losing streaks of six games or more. The results indicate both the presence of momentum effects and the gambler’s fallacy.
Publication Source (Journal or Book title)
International Journal of Financial Studies
First Page
359
Last Page
370
Recommended Citation
Waggoner, B., Wines, D., Soebbing, B., Seifried, C., & Martinez, J. (2014). “Hot Hand” in the National Basketball Association Point Spread Betting Market: A 34-Year Analysis. International Journal of Financial Studies, 2 (4), 359-370. https://doi.org/10.3390/ijfs2040359