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A recent report by sports odds intelligence firm Bettormetrics reveals that four major U.S. sportsbooks may have collectively lost over $160.7 million in revenue during the 2023-2024 NFL season. This significant loss is attributed to extended betting suspensions and inefficient pricing strategies. The report analyzed data from last season’s NFL games, uncovering that sportsbooks like BetMGM and Bet365 experienced longer suspension times, averaging 5-10% more per game compared to market leaders.
Betting suspensions occur when sportsbooks temporarily halt betting lines to adjust odds based on ongoing game developments. The longer these suspensions, the more revenue sportsbooks lose as they miss out on live wagering opportunities.
The report highlights notable discrepancies in uptime— the percentage of time sportsbooks are open for live wagers during NFL games. DraftKings emerged as the leader with an impressive 96.1% uptime. In contrast, Bet365 had an uptime of just 85.5%, resulting in an estimated revenue loss of $4.6 million.
With the American Gaming Association forecasting a 30% increase in NFL betting for 2024, potentially reaching $35 billion, Bettormetrics warns that tier-one sportsbooks could face over $220 million in collective losses this season if they do not enhance their suspension and pricing strategies.
“DraftKings is clearly the team to beat when it comes to NFL betting,” stated Robert Urwin, Bettormetrics’ Co-Founder and CEO. “With the most uptime during NFL games and the least amount of time suspended, DraftKings has a firm grasp on the crucial betting season in the U.S. FanDuel is close behind and could close the gap with some adjustments to their suspension and trading strategies.”
Bettormetrics utilizes its Trading Analytics Platform (TAP) to aggregate data on trading performance, offering valuable insights into both competitors’ and their own operations. This data helps sportsbooks fine-tune their strategies to enhance revenue and profitability.
Sabin Brooks, Bettormetrics’ Chief Revenue Officer, emphasized the stark differences in revenue potential among the top sportsbooks. “It’s staggering to see the difference in uptime and therefore potential lost revenue between four of the top sportsbook leaders in the U.S.,” he said. “Without effective suspension strategies, BetMGM and Bet365 will struggle to catch up to FanDuel and DraftKings. The 2024-2025 NFL season offers a crucial opportunity for these bookmakers to close the gap by optimizing their uptime and trading performance.”