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Sportsbooks Face Tough Times with NFL and March Madness Losses
SportsGrid
Follow
4/29/2025
Category
🥇
Sports
Transcript
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00:00
now boy it has been tough for the sports books i'm crying sam can you see this little tear for
00:05
the sport here they lose during the nfl season and then march madness comes like oh we're gonna
00:11
get a bunch of upsets we're gonna get a lot of craziness didn't happen as well i mean over the
00:15
last calendar year sam i don't ever recall six or eight months of time in sports where the books
00:21
lost but here we are yeah it's it's really been an unprecedented run these past six months they
00:28
had terrible nfl usually that's their best sport and then as you said craig march madness came
00:32
around and no uh no cinderella's won there were no there were no major upsets um you know they got
00:37
lucky enough that duke had that that final collapse in the final four um i think almost half the money
00:42
that was bet on the ncaa championship was on that but um that's not going to be included in um the
00:48
current reporting period that comes up because the game happened about a week outside of that so
00:53
what will be included in the q1 results is a terrible march madness uh one uh analyst bank is
00:58
saying uh that they estimate fanduel and draft kings lost in 185 million dollars combined for
01:04
march madness so estimating not just that they didn't have a profitable march madness but it was
01:09
a huge loss for them as well so um you know it comes after a really rough nfl season draft king said
01:17
it was the worst one ever the super bowl did help a little bit uh with player props and
01:21
same game parlays um you know translating to a profitable day overall for the books but it still
01:27
has not been a great overall last six months but now you have q2 when you have the nba playoffs are
01:32
in form nhl playoffs um and major league baseball really helps a lot just having so many more games
01:38
on the slate without as much volatility on one major event like the final four where it's single
01:44
game elimination everyone's betting on a favorite team that covers so uh historically q2 accounts for about
01:49
21 of the annual handle um that's delivered over the year but the highest parlay margins and the
01:55
best uh hold percent is for the books typically so q2 cannot be coming at a better time after these
02:01
past six months for the sports books but still they'll be hoping that the favorites don't win
02:05
in the nba they'll be rooting against the thunder rooting against the lakers who are on the ropes right
02:09
now um and the golden knights as well are a huge liability in the nhl playoffs but you know no
02:14
quarter is totally risk-free so um they're definitely not um you know celebrating anytime
02:19
soon uh the kentucky derby is coming up as well so um if they if they have a good quarter it'll be
02:24
really important if they have a bad quarter uh which they're kind of set up not to do but it could
02:29
happen uh it'll be really really interesting to see how that affects the stock market sentiment which
02:34
is very much down right now even though you know it is a high volatile industry but you know when you
02:39
have months and months of losses uh you know it's harder to to overlook that kind of stuff
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