Market efficiency and behavioral biases in the WNBA betting market

Rodney J. Paul, Andrew P. Weinbach

Research output: Contribution to journalArticlepeer-review

6 Scopus citations


The betting market for the Women’s National Basketball Association (WNBA) is a thin financial market, which does not attract much interest from sports bettors. Given these characteristics, it is possible that profitable wagering strategies could exist for informed bettors of the WNBA. Using betting data on the WNBA from 2007–2012, we find that simple betting strategies do not earn statistically significant returns. WNBA bettors are like NBA bettors; however, in that they strongly prefer the best teams, particularly when they are on the road. Despite this clear bias, betting against the most popular public wagers is not found to earn statistically significant profits.

Original languageEnglish (US)
Pages (from-to)193-202
Number of pages10
JournalInternational Journal of Financial Studies
Issue number2
StatePublished - Jun 2014


  • Behavioral biases
  • Efficient markets
  • Gambling

ASJC Scopus subject areas

  • Finance


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