October 20, 2021

Single Game Parlays Have Taken The Sportsbook World By Storm

Filed under: News — Tags: , , — News @ 10:00 am

This article originally appeared in SportsHandle.

Introduced by FanDuel in 2019, the betting format is soaring in popularity across all books that offer the wager

If we’re going to rank the most momentous moments in the history of the business of sports betting, there are a few that stand out.

PASPA being overturned certainly ranks at or near the top, as does the invention of the point spread. That was thanks to Charles K. McNeil, a Chicago fella back who came up with the idea in the early 1940s.

But in recent months, a new item on the menu for sports bettors has taken hold, and based on early returns, it’s not so far-fetched to say the single game parlay will one day be held up as a shining example of, well, massive profit for sportsbook operators, but also as a turning point for the sports betting industry.

Called different things by different sportsbooks — mostly because the term “same game parlay” is currently being reviewed by the United States Patent and Trademark Office — the idea is simple: Bettors can choose items to parlay together from the same game. 

And it has exploded.

Introduced by FanDuel in late 2019, it has been quickly copied by virtually all the major online sportsbooks. And with good reason: Regular ol’ parlays have long been cash cows for the business. According to study by UNLV’s Center for Gaming Research, the average Nevada sportsbook — and this was based on nearly two decades’ worth of data — has a win percentage on parlay wagers of around 30%, compared to 6% on all other wagers.

Continue Reading at SportsHandle

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September 9, 2021

Caesars and Genius Sports Sign Important Data Deal

Filed under: News — Tags: , , , — News @ 11:15 am

This article originally appeared in Sportsbook Review.

Casino giant Caesars Entertainment continues its attempt to separate itself from the sports betting provider pack with the Tuesday announcement of a deal with top-end data provider Genius Sports for access to their entire data portfolio, starting with the NFL.

“Genius Sports data feeds will support the Caesars trading and sportsbook platform by providing access to official NFL products, including official live sports data feeds,” according to a statement on Tuesday.

Data has become a cornerstone of sports betting with clients demanding more real-time statistics for their informed wagers. With those demands has come a spike in value for data, particularly the NFL. In the spring, Genius Sports won the battle for exclusive rights to NFL data and paid up to get it. The six-year distribution deal was rumored to land somewhere between $100-$250 million with the high end likely being more of a logical projection.

“We are thrilled that Caesars Entertainment has recognized our investment in official sports data as it fuels the next generation of fan experiences,” said Mark Locke, CEO at Genius Sports.

The Deal

The Caesars/Genius Sports tie-up is a win-win for both companies. Genius gains the benefit of one of/if not the most successful sportsbooks in the country to use their full suite of technology and Caesars gets to use exclusive data and products to enhance their bettors’ experience.

Genius Sports will partner with Ceasars on advertising with Genius providing technology to the betting provider. Caesars will benefit from customer acquisition and retention potential and Genius Sports will benefit from the enhanced exposure from one of the biggest online sportsbooks in the land.

“Acquiring and retaining fans now requires a broader suite of innovative and interactive engagement tools than ever before,” Mark Locke, chief executive officer at Genius Sports, said in a news release. “We are thrilled that Caesars Entertainment has recognized our investment in official sports data as it fuels the next generation of fan experiences. Our range of live sport, in-game betting products and media services will support Caesars’ acceleration of its U.S. market growth, through exciting new brand, acquisition and monetization opportunities.”

Continue Reading at sportsbookreview.com

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September 8, 2021

$10K on the Patriots? $1K on the … Lions? The Most Notable NFL Bets of the Offseason

Filed under: News — Tags: , , , , , , — News @ 9:00 am

This article originally appeared in Yahoo News.

With the NFL season kicking off on Thursday night with a showdown between the Tampa Bay Buccaneers and Dallas Cowboys, it seems like a good time to look back at some of the most notable bets placed over the course of the offseason.

The Bucs, on the heels of winning Super Bowl LV over the Kansas City Chiefs, were the team that received the two biggest Super Bowl futures bets at BetMGM. One bettor put down $30,000 on the Bucs to repeat at +700, a potential win of $210,000. And when the Bucs were listed at +800 to win the Super Bowl, there was a $25,000 bet that would win $200,000.

Two other five-figure Super Bowl bets were on the Green Bay Packers and New England Patriots. The Packers, potentially in the final season of the Aaron Rodgers era, received a $19,000 bet at +1400. Should that come to fruition, the bettor would win $266,000.

The Patriots bettor would be in for a bigger return. New England is coming off its first losing season since 2000, but one bettor wagered $10,000 on the seventh Super Bowl in Bill Belichick’s tenure. With the Patriots listed at +3000, that bet would return $300,000.

Continue Reading at yahoonews.com

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August 31, 2021

NFL Welcomes Four More Approved Sportsbook Partners

Filed under: News — Tags: , , — News @ 12:00 pm

This article originally appeared in Sportsbook Review.

It wasn’t all that long ago that the NFL and its brass were vocal opponents of the idea of gambling on their sport. Things have changed dramatically over the years, culminating in Monday’s announcement that the NFL is bringing on four more approved sportsbook partners. FOX Bet, BetMGM, PointsBet, and WynnBET will become Approved Sportsbook Operators of the NFL and the news comes just in time to take advantage of the entirety of its season which kicks off September 9.

“We are pleased to announce this select group as Approved Sportsbook Operators,” Nana-Yaw Asamoah, Vice President of Business Development for the NFL, said in a league release. “Along with our three Official Sports Betting Partners, this group of operators will help the League to engage fans in responsible and innovative ways this season as the sports betting landscape continues to evolve.”

The new crop of authorized sportsbook operators takes the total to seven partners for the most bet on league in the world. Caesars Entertainment and the two DFS monsters operating as legal sports betting provider giants became NFL partners in April and have reaped the benefits since.

How Important an NFL Alliance Is

The NFL is unquestionably the most important professional league for sportsbooks not only in the US but around the world. PlayUSA was out with a report last week that said an estimated $12 billion will be bet on the NFL this season alone, with $800 million in revenues.

Despite being called “second-tier partners” of the NFL, BetMGM, WynnBET, PointsBet and Fox Bet will be afforded unique opportunities with the league that other books are not. Caesars and the two DFS behemoths-turned sports betting provider giants are the “top-tier” or what had been called the “Tri-exclusive partners”. They get some company as of Monday.

Those Unique Opportunities

BetMGM, WynnBET, PointsBet and Fox Bet will be granted some exclusive perks under their new Official relationship with the NFL. Their brands will be advertised on NFL broadcasts which is an enormous advantage right off the bat in the battle for market share in the exploding but increasingly competitive US sports betting scene. BetMGM, WynnBET, PointsBet and Fox Bet will be featured on all premium NFL league media outlets that currently serve the league.

Perhaps the most important win for the four new sportsbooks will be their ability to use Official NFL media and data inventory. Official data, provided exclusively by Genius Sports for Official Sports Betting Partners will only give BetMGM, WynnBET, PointsBet and Fox Bet access to critical and valuable league data to use while generating odds and with their increasingly popular live betting options.

As the league said, the new partners have a chance to “leverage NFL marks within the sports betting category, integrate into NFL O&O [owned and operated] properties, and activate around retail and online sports betting”.

Continue Reading at sportsbookreview.com

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August 12, 2021

Canada Announces Date for When Provinces Can Launch Single-Game Sports Betting

Filed under: News — Tags: , , — News @ 2:00 pm

This article originally appeared in Sports Betting Dime.

Oh Canada! Citizens of the Great White North now have a date for when they can potentially enjoy legalized single-game Canadian sports betting.

David Lametti, Canada’s Minister of Justice, announced single-game sports betting will be allowed in provinces on August 27. It will be up to each province to decide how they will offer, or even if they will offer single-game sports wagering.

It’s the first major update for online sports betting Canada since June. That’s when the Senate of Canada approved Bill C-218 by a vote of 57-20 with five abstentions without amendment at third reading. This bill allows each Canadian province to regulate and legalize single-game sports betting on its own. This is similar to the 2018 process in the United States when the Supreme Court overturned the Professional and Amateur Sports Protection Act prohibiting states from authorizing sports betting.

The Private Member’s bill, sponsored by Saskatoon-Grasswood Conservative MP Kevin Waugh, amended the Canadian Criminal Code to remove language that required sports bets to be placed across multiple events. Until its approval, Canadian residents could only legally wager on multi-leg parlays.

The August 27 launch is timely as it will align perfectly with one of the biggest sports betting dates on the calendar — the start of the NFL regular season. The pre-season is already underway. But the official start of the 2021 regular season kicks off on Thursday, September 9 when the Dallas Cowboys host the Super Bowl champion Tampa Bay Buccaneers.

Continue Reading at sportsbettingdime.com

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July 16, 2021

US Sports Bettors Have Already Wagered More in 2021 Than All of 2020

Filed under: News — Tags: , , , , — News @ 5:00 pm

This article originally appeared in Sports Betting Dime.

Halfway into 2021, the United States has already generated more sports betting revenue than it did in all of 2020. As the official monthly revenue reports from June 2021 continue to roll in, it appears the overall sports betting handle (the amount wagered on sports) will more than double year-over-year. 

As legal sports wagering expands into more and more states, the popularity of sports betting is booming. With additional states such as Arizona, Maryland, and Louisiana expected to come online later this year, American sportsbooks are on track to take in more than $45 billion of action in 2021. 

In just six months, Americans have already wagered more than $21.5 billion with legal sportsbooks this year. After paying out winning bets, that’s resulted in more than $1.6 billion in gross gaming revenue. Over $200 million has wound up back in state coffers, often used to help fund things such as K-12 education programs. Compare those numbers to previous annual totals and it’s obvious the industry is skyrocketing. 

The best three stand-alone months in the young history of legal sports betting in the US have all come in 2021. In March, a record $4,611,002,625 was wagered on sports in a single month, reflecting the widespread popularity of college basketball’s March Madness. Typically, the bigger betting volumes come during football season, so there are even greater months ahead this year. Couple that with the fact that additional new states are launching soon and it becomes clear the industry has not yet reached its ceiling.

At the individual state level, New Jersey is once again leading the way. The Garden State will almost certainly finish with the highest betting handle of any state in 2021 – it’s currently on track to take in over $9 billion (and possibly even $10 billion) in wagers this year.

Continue Reading at sportsbettingdime.com

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June 25, 2021

Get A Grip: The Week In Sports Betting: Florida Fightin’ Words, Ohio Inaction, Canada, And Everywhere, Man!

Filed under: News — Tags: , , — News @ 9:00 am

This article originally appeared in Sportshandle.

It’s information overload everywhere, and there’s not time enough to sleep and eat and stay fully apprised of what’s happening on this crazy blue dot of ours (two out of three ain’t bad). Here’s the weekend Sports Handle item, “Get a Grip,” recapping the week’s top U.S. sports betting stories, highlighting some fresh news, and rounding up key stories. Also check out this week’s Wild World of Gambling at US Bets.

DraftKings and FanDuel are Florida’s ‘champions’

It won’t be an easy lift, but the contest has officially started: DraftKings and FanDuel will be racing to collect nearly a million signatures in order to secure a ballot initiative that would break open the Florida mobile sports betting marketplace that, as currently and tentatively constituted, would be a Seminole Tribe monopoly.

As first reported by Sports Handle on Wednesday and further buttressed by a review of the draft copy of the initiative on Thursday, the Florida Secretary of State website has now published the proposed constitutional amendment, which bears the Serial Number 21-13.

Financially and strategically backed by DraftKings and FanDuel, the political action committee Florida Education Champions will serve as the vessel for the initiative.

The PAC was registered on June 2 and is chaired by David Johnson, a Republican political consultant. Johnson’s wife Christina, president of On 3 Public Relations, is serving as the group’s spokesperson.

“Yes, those entities [DraftKings and FanDuel] are going to be supportive of this effort,” said Christina Johnson, acknowledging that they are driving the campaign to amend the state Constitution.

Further in a statement published by the Florida Phoenix, she added, “The Florida Education Champions committee is comprised of like-minded individuals invested in increasing public education funding, without raising taxes, in Florida, by expanding sports betting in the state. The committee will be actively fundraising, targeting donors who support our mission to get this pro-education ballot amendment before the voters in November 2022.”

Continue Reading at sportshandle.com

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