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The 'homer effect' and other new challenges from legal U.S. sports betting expansion

The Eagles, by the way, are 4.5-point favorites over the Atlanta Falcons on Sept. 6, both in New Jersey and Nevada. "Their liability [on the Eagles], given parlays, teasers, straight bets and parlay cards, could be extremely massive," Ed Salmons, oddsmaker at the Westgate SuperBook in Las Vegas, said. Any kind of "homer effect," while not yet evident in New Jersey, is one of several unknowns for bookmakers and bettors entering a new landscape with expanded legal sports betting in the U.S. Golden Knights give Vegas a sense of potential "homer effect" Las Vegas bookmakers found out the hard way what it's like managing odds and taking bets on the home team this year. In their inaugural campaign, the Vegas Knights put together a historic season, both on the ice and at the betting counters. A bettor who staked $100 on the Knights on the money line in every game during the regular season and throughout their postseason run would have ended up with a profit of $2,376. That's the largest money-line profit of any team in at least the past 13 NHL seasons, according to sports betting database BetLabSports.com , which has data back to 2005. The Knights' improbable season made for a stressful learning experience for the city's bookmakers. Art Manteris, who has been taking bets in Las Vegas for 40 years, said a Knights' Stanley Cup win would have cost him his largest loss ever, more than any Super Bowl or World Series wager, even more than if Conor McGregor would have upset Floyd Mayweather in their September 2017 megabout.

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