Can you make money betting on racial bias in the NBA?
Recent studies have documented the existence of an own-race bias on the part of sports officials. In this paper we explore the implications of these biases on betting markets. We use data from the 1991/92 – 2004/05 NBA regular seasons to show that a betting strategy exploiting own-race biases by referees would systematically beat the spread.
Source: “Racial Bias in the NBA: Implications in Betting Markets” from Journal of Quantitative Analysis in Sports