Not having looked at the stats, I'd say it would make more sense if after 4 games in 5 nights the said team lost.. But you have to look at if they played at home or away, and how much travel time was involved, how hard each of the games was relative to the next, injuries...etc. Also, remember that any decent team has very well conditioned athletes that can handle playing that much w/o too much negative affect on their performance.
You could have an angle as far as the fact that the teams have about the same odds of winning as if they had a few days of rest, but the bookies give you a really good dog line...Might be a lot of value there if you can show it is a trend and not just an odd week.