The NFL betting season has not been kind to sportsbooks in the US.
FanDuel parent Flutter has lowered its revenue projections for the NFL season. While this season has seen a record number of https://aq999gameapp.com/wagers, many of them have won. Sportsbooks, including FanDuel, have suffered a revenue hit. The industry-leading operator’s revenue was down $390 million, leading to Flutter making an EBITDA adjustment of $260 million.
This NFL season saw favored teams win at the highest rate in two decades. Betting favorites draw the most wagers, meaning sportsbooks lose more when they win. The record-setting handle makes that losing hurt even more, leading to Flutter’s decision to drop the EBITDA by such a large amount.
The uptick in favorites winning this season has also led to more parlays cashing. Many bettors combine favorites when placing multi-leg wagers, leading to more winning. The combination of the immense popularity of parlay and the higher payouts make these losses hurt operators like FanDuel far more.
Unlike many of its US competitors, Flutter has gambling operations across the globe. Many international markets don’t see much action on the NFL, helping overall revenue numbers remain strong.
This success allows Flutter to offset its poor results in the US. That is a significant advantage, especially compared to their top rival, DraftKings.
This disappointing NFL season ended as DraftKings launched an industry-changing new service. The Massachusetts-based operator is now offering a parlay subscription service called DraftKings+. Bettors can sign up for $20/month to access stepped-up odds on their parlays.
Parlays have become immensely popular in the US, making DraftKings+ a unique and likely in-demand service.
Many expect FanDuel and other operators to launch similar services in 2025. However, the 2024 NFL season has shown the damage parlays can do to the bottom line of sportsbooks. While the subscription cost would help offset losses, the boosted odds mean far bigger payouts.
We will soon see if FanDuel decides to rush out its own https://aq999gameapp.com/subscription service or wait to see how DraftKings+ performs.
