Last Sunday, the New York Giants played the Chicago Bears in football. The point spread on the game favored the Giants by 1.5 points, meaning that if the Giants won by only one point, those who bet on them would lose.

Having watched the game myself, I was not at all surprised to receive the following e-mail from a fan who prefers to remain anonymous:

Yesterday was the usual Sunday fare, sitting on my couch watching football games that I had bet on while I worked on research. The day had gone in a most familiar way — lost hundred of dollars on the Chiefs +6 against the Chargers, but looked like I was about to win it back with the Raiders +3.5 against the Broncos.

My last game of the day was the Bears +1.5 against the New York Giants. The Bears grabbed an early lead, and things were going pretty well, with a 16-7 advantage midway through the fourth quarter. My 1.5 points looked good, since the worst case scenario looked like a 17-16 Giants win. In which case, I would still win my bet. Read more …