Horses, Boxing & Favorite Bias
In one of our articles, we highlighted the long-standing longshot-favorite bias that exists in horse racing and boxing betting. The sports betting research that SportsInsights.com performs for major US sports has uncovered biases that relate to betting against the public — and generally finds value on underdogs.
Interestingly, the opposite is generally true for major horse racing and boxing events. In these events, there is a LOT of public interest in these “one-time events.” Boxing and horses often offer long-shot “lottery ticket” opportunities that offer attractive odds to the casual bettor. This means that long-shots are OVER-valued — and that “sharps” and professionals are often on the undervalued favorites.
Most major US team sports do not offer the same long-shot odds that we see in boxing and horse racing. Please visit SportsInsights for relevant and timely sports betting information.