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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