Curated News
By: NewsRamp Editorial Staff
September 05, 2024
Top U.S. Sportsbooks Lose $160.7M in Handle Last NFL Season
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- DraftKings has the edge for NFL betting with the most uptime, potentially gaining a competitive advantage over other sportsbooks.
- Bettormetrics' Trading Analytics Platform (TAP) provides data to optimize uptime and trading strategies for sportsbook operators.
- By optimizing their suspension strategies, sportsbooks can potentially prevent millions of dollars in lost revenue, making the industry more profitable.
- The American Gaming Association estimates a 30% surge in NFL betting, potentially impacting the industry with over $220 million in potential losses for tier 1 operators.
Impact - Why it Matters
This news matters for sports betting enthusiasts and industry professionals as it reveals crucial insights into potential revenue losses for top sportsbooks in the U.S. The analysis could impact the strategies and operations of major players in the sports betting industry, ultimately affecting the betting experience for consumers.
Summary
Bettormetrics, a sports odds intelligence firm, released their latest report on the 2023-2024 NFL season, revealing potential revenue losses of over $160.7 million for top sportsbooks in the U.S. due to extended suspension times and poor pricing strategies. The analysis found that BetMGM and Bet365 were suspended in-game and not taking live wagers on average 5-10% more each game than the market leaders, potentially leading to millions in lost revenue. With the American Gaming Association estimating a 30% surge in NFL betting to $35 billion in 2024, this report has significant implications for the industry.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Top U.S. Sportsbooks Lose $160.7M in Handle Last NFL Season
