JERSEY CITY, N.J.—Miami Dolphins wide receiver Tyreek Hill recently marked a 78-yard touchdown with an unusual celebration. He and teammates imitated riding a roller coaster, sitting on the field with their arms waving overhead.

More than 200 miles away, sports-betting company FanDuel’s sports-trading desk was riding its own waves that Sunday afternoon. The traders on duty—self-professed sports buffs with a knack for math—were trying to predict how National Football League athletes and teams would perform that day.