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Despite making a very good prediction about the outcome, our computer-assisted bettor chose to wager on the wrong horse.
Given these findings, we hypothesize that the home-underdog bias is actually a function of simple bettor preferences for betting on the best teams in the point spread market and high scoring in the totals market.
Suppose that when rollover is zero the typical bettor forecasts sales to be $8.8 million.
To claim the prize, the lucky bettor must go to PCSO's main office in Mandaluyong City and present two IDs so he/she could get the cheque.
Meanwhile, 12 bettors won P55,740 each for guessing five numbers of the winning combination.
Given only what we know, I do not think we should anticipate any difference between the bettors. The first nine or ten bets gave us no indication of what would happen with the next nine or ten, so why should we think those tell us what will happen now?
Another common factor determining betting volume for both the NBA and the NHL is bettor attrition throughout the season.
Billy Walters made himself wealthy and gained niche celebrity as a sports bettor before earning infamy and prison time in an insider-trading scheme, but he never attracted broad fame.
The bookmakers use their expertise to set the lines, as they are better at predicting game outcomes compared to the typical bettor, which provides greater profits to the casinos, which is also confirmed by Paul and Weinbach (2007, 2011).
There are three other finals with the first, the Back and Lay at Sprint Trophy over 300m, offering the best chance of a Scottish winner in the shape of Target Brett (8.30) trained by Craig Dawson from Hawick.
But he wanted to attract more affluent customers, so he built his track "bigger and better" for the bigger bettor. Someone asked him, "Do you want to lose the $2 better?