Originally Posted by ChrisV
Interesting. This is not the case, to put it mildly, in any other sport I have studied.
Weird. I did a paper on it last summer, and there were a ton of articles on the "favourite-longshot bias": People overestimate an underdog's chance of winning. This could be a horse in a race where you get odds 50 to 1, when in reality the odds should be 1000 to 1 for instance.