Skip to main content
  • Home
  • About
  • Faculty Experts
  • For The Media
  • Videos
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Research
    • Students
    • All Topics
  • Contact
  • Submit
Media Tip Sheets
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
Sections
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
  • Home
  • About
  • Faculty Experts
  • For The Media
  • Videos
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Research
    • Students
    • All Topics
  • Contact
  • Submit
Media Tip Sheets

Key To Betting The Kentucky Derby Is To Have Fun, Says Falk Sports Economist

Thursday, April 25, 2019, By Daryl Lovell
Share
Falk College of Sport and Human DynamicsKentucky DerbySports

The 145th running of the Kentucky Derby will take place on Saturday, May 4 in Louisville, Kentucky.

Rodney Paul is a sports economist and professor at the Syracuse University David B. Falk College of Sport and Human Dynamics.

Paul says:

“The key to betting the Kentucky Derby is to have fun. You should view this as consumption, not investment.

“Betting on the race gives you a chance to come home with some additional money, but there are plenty of experts and the combined ‘wisdom of crowds’ coupled with the rather large takeout (the portion of the betting pool the track keeps for itself) on the part of the tracks. It is very difficult to consistently win.

“If looking for general angles, there is the phenomenon of the favorite-longshot bias, where longshots are generally over bet, and favorites under bet. This is quite different than what we see in North American sports such as baseball, where the reverse is true (favorites are over bet). This difference likely stems from emotional attachment and timeframe of the wager, whereas in the Kentucky Derby most bettors may not have an emotional attachment to any particular horse (which could change during the Triple Crown) and the race itself is very short. Baseball, on the other hand, has emotional attachment by fans over time and the duration of your wager often exceeds three hours.”

 

 

To request interviews or get more information:

Daryl Lovell
Media Relations Manager
Division of Marketing and Communications

T 315.443.1184   M 315.380.0206
dalovell@syr.edu | @DarylLovell

The Nancy Cantor Warehouse, 350 W. Fayette St., 2nd Fl., Syracuse, NY 13202
news.syr.edu | syracuse.edu

Syracuse University

  • Author
  • Faculty Experts

Daryl Lovell

  • Rodney Paul

  • Recent
  • Behind the Greens with Drumlins’ Peter McPartland
    Friday, June 24, 2022, By Abby Haessig
  • Tips for Managing Your Spring (Achoo!) Allergies
    Friday, June 24, 2022, By Diane Stirling
  • 9 Faculty Members Presented NSF CAREER Awards
    Friday, June 24, 2022, By Diane Stirling
  • Faculty expert reflects on 80th anniversary of Holocaust publication
    Thursday, June 23, 2022, By Vanessa Marquette
  • Syracuse Views Spring/Summer 2022
    Wednesday, June 22, 2022, By News Staff

More In Media Tip Sheets

Faculty expert reflects on 80th anniversary of Holocaust publication

Saturday, June 25th marks 80 years since the Daily Telegraph published about the mass murder of Jews during the Holocaust, but it was on the fifth page of a six-page issue. The Guardian describes it as “one of its greatest…

Want to Better Support LGBTIQ+ Kids? Train and Invest In School Counselors

June is annually recognized as Pride Month in the U.S., a period to spotlight and support the LGBTIQ+ community. As these kids and their caregivers navigate increasingly hostile environments, what role can school counselors play in addressing health and safety…

PTSD Awareness Month: What can we do to help?

June is PTSD Awareness Month and it serves as yet another reminder of the mental health struggles many veterans face each and every day – often times without any support, according to this recent Op-Ed in Newsweek written by John…

Vice Admiral responds to Biden’s trip to Asia

If you are looking for an expert in military and intelligence issues, please see comments from retired Vice Admiral Robert Murrett regarding President Biden’s trip to Asia and the mention of the “United States would intervene militarily if China attempts to…

Media Tip Sheet: Consequences of China Lockdown

As the intense lockdowns continue in China, one of our Syracuse University professors weighed in on possible consequences they may have on the economy. Dimitar Gueorguiev is an associate professor of political science at the Maxwell School of Citizenship and…

Subscribe to SU Today

If you need help with your subscription, contact sunews@syr.edu.

Connect With Us

  • Facebook
  • @SyracuseUNews
  • Youtube
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
  • @SyracuseU
  • @SyracuseUNews
  • @SUCampus
  • Social Media Directory
  • Accessibility
  • Privacy
  • Campus Status
  • Syracuse.edu
© 2022 Syracuse University News. All Rights Reserved.