Curated News
By: NewsRamp Editorial Staff
May 02, 2024
Bettormetrics Analysis Reveals US Sportsbooks Losing Millions Due to Poor Suspension Strategies
TLDR
- Leading US sportsbooks potentially losing tens of millions in revenue due to lengthy suspension times during live sport contests. Bettormetrics data analysis reveals key insights.
- Suspension in sports betting occurs when a sportsbook periodically shuts down betting lines in a sporting event to readjust the odds based on activity within the event.
- By improving suspension strategies, sportsbooks can increase margins, reduce customer attrition, and find new revenue from within, ultimately creating a better betting experience for users.
- Bettormetrics analyzes thousands of live in-play sports betting events, uncovering crucial insights that directly impact sportsbook revenues and profitability.
Impact - Why it Matters
The news highlights the significant impact of suspension strategies on sportsbook revenue, urging the industry to focus on optimizing trading efficiencies. This affects not only the companies themselves but also the customers, shareholders, and the overall competitiveness of the US sports betting market.
Summary
Bettormetrics reported a potential loss of tens of millions of dollars in revenue for leading US sportsbooks due to lengthy suspension times during live sport contests. The analysis, based on NBA betting data for the 2023-2024 season, revealed that FanDuel led in potential revenue lost, leaving an estimated $1.45 billion in handle on the table with an average suspension rate of 15.8%. Bettormetrics CEO emphasized the importance of optimizing suspension strategies to increase revenue and improve margins.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Bettormetrics Analysis Reveals US Sportsbooks Losing Millions Due to Poor Suspension Strategies
