NFL Season Betting Trends: Stadium Bets Increase in 2024

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Transcript

00:00All right, let's get to the National Football League. We got some geo-complied data in.

00:06We've got three weeks of the National Football League season. And what do the numbers say?

00:11Does it say that more people are betting actually in the stadium this year?

00:15Yeah, that's what we're hearing, Craig. Geo-complied, we know that they own

00:19most of the U.S. gambling industry when it comes to geolocation and setting up those boundaries

00:25for states and stadiums and all that kind of stuff, where and where you can bet, where you

00:29can't bet. And they said that last year, through the first 30 weeks of the season,

00:34you had about 5,800 people at the stadiums with active sports betting accounts. And that's up

00:401,000 accounts this year. It's up to 6.8 thousand, which, you know, that's great, right? We are

00:46getting to a more mature part of the sports betting ecosystem here, and yet we're still

00:52seeing strong growth. And that is definitely something that these companies want to keep

00:57seeing. The other thing that these companies want to keep seeing is the favorites lose.

01:01I mean, they're holding a lot. We have a report here from Chad Bain on a query.

01:06He likes to go week by week and estimate what hold may be. And then he uses the New York numbers to

01:12kind of play off of that. And look, basically last week, the week ending September 15th,

01:1814.5 percent, he says, that they held in New York. That was even higher than the 12.3 percent that

01:24they thought they were going to hold. And remember, when online sports betting was getting

01:29rolled out in the U.S., all of these sports book operators said, you know, we're lucky to keep 5

01:34percent. And now we're talking about on some NFL weeks keeping 15 percent or more, which is just

01:40huge for these companies. What does that mean for the consumer? Well, usually when the favorites

01:46lose and the bettors are losing money, they're going to bet less. The positive with that is that

01:53sports books are handing out more promotions lately. They're finding that the cost per

01:58acquisition is a little lower than it has been in previous years. And also there's more competition

02:03out there. So you're trying to either keep that stranglehold on first or second place, like a

02:08FanDuel and DraftKings has, or you're clawing away and trying to get up into those, you know,

02:12the top five. So I think we're going to continue to see more promotions here for sports bettors.

02:18That'll be great for them. But sports bettors would definitely like to see some of these

02:23favorites actually come through and win. There were a couple of games last week that Chad said

02:29really bumped the handle up for these sports books. And it was the primetime game mostly.

02:35And he said they accounted for nearly 36 percent of bets for the week.