Top U.S. Sportsbooks Lost Out on $160.7 Million in Handle Last NFL Season, According to Latest Report from Sports Odds Intelligence Firm Bettormetrics Analysis shows a widening gap between top U.S. sportsbooks in suspension and pricing strategies
NEW YORK
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September 05, 2024 10:59 AM Eastern Daylight Time
Bettormetrics, a sports odds intelligence firm providing competitive sports odds data and insight to the sports betting industry, released their latest report on the 2023-2024 NFL season today. The analysis found four out of the five top sportsbooks in the U.S. potentially lost over $160.7 million of revenue last NFL season due to extended suspension times and poor pricing strategies.
Bettormetrics’ analysis of last season’s NFL games 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. Suspension is when a sportsbook periodically shuts down betting lines in a sporting event to readjust the odds based on activity within the event, while uptime is the amount of time they are accepting live wagers during the game. DraftKings averaged 96.1% uptime last season, while Bet365 averaged only 85.5% uptime – leading to a potential loss of $4.6 million. With the American Gaming Association estimating that betting on the NFL will surge by 30% in 2024 to $35 billion, this means that over $220 million will potentially be lost by tier 1 operators over the coming season.
“DraftKings is clearly the team to beat when it comes to NFL betting,” said Robert Urwin, Bettormetrics’ co-founder and CEO. “With the most amount of uptime during NFL games and least amount of time suspended in isolation compared to the other bookmakers, DraftKings has a grip on the most critical betting season in the U.S. FanDuel is close behind and could make up the distance with a few tweaks in their suspension and trading strategies.”
Bettormetrics’ Trading Analytics Platform (TAP) aggregates trading performance data so bookmakers gain insight into the performance of their competitors and their own trading desk, and in turn make changes to increase revenues and profitability.
“It’s staggering to see the difference in uptime and therefore potential lost revenue between four of the top sportsbooks leaders in the U.S.,” said Sabin Brooks, Bettormetrics’ Chief Revenue Officer. “Without the proper suspension strategy, it’s extremely difficult for BetMGM and Bet365 to begin to catch up to FanDuel and DraftKings. As we begin the 2024-2025 NFL season, there is a real opportunity to close some of the gap if those two bookmakers can optimize their uptime and trading performance.”
Bettormetrics is an innovative company providing competitive sports odds intelligence and insight to the sports betting industry. Bettormetrics’s Trading Analytics Platform is a SAAS product supporting sportsbook trading desks with cutting edge insight and analysis on the entire event life cycle, helping sportsbooks, data suppliers and B2B platforms gain an edge on competitors and ensure no profits are left on the table. For more information, please email info@bettormetrics.com or visit Bettormetrics.com.
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