Top U.S. Sportsbooks Potentially Lost $160.7 Million Last NFL Season Due to Poor Strategies

Sports Odds Intelligence firm Bettormetrics has released a new report detailing substantial revenue losses among top U.S. sportsbooks during the 2023-2024 NFL season. According to the analysis, four out of the five leading sportsbooks potentially missed out on over $160.7 million due to extended suspension times and ineffective pricing strategies.

The report highlights that BetMGM and Bet365 experienced higher in-game suspension rates, averaging 5-10% more per game than market leaders. Suspension occurs when a sportsbook temporarily halts betting lines to readjust odds based on game activity. In contrast, uptime refers to the duration sportsbooks accept live wagers. DraftKings demonstrated a 96.1% uptime, whereas Bet365 lagged with an 85.5% uptime, resulting in a potential loss of $4.6 million.

With the American Gaming Association predicting a 30% increase in NFL betting to reach $35 billion in 2024, the stakes are even higher. This surge could lead to over $220 million in potential losses for tier 1 operators in the coming season if suspension and trading strategies are not optimized.

Robert Urwin, Bettormetrics’ co-founder and CEO, noted, “DraftKings is clearly the team to beat when it comes to NFL betting. With the most uptime during NFL games and minimal suspension, DraftKings dominates the critical betting season in the U.S. FanDuel is close behind and could catch up with some adjustments in their suspension and trading strategies.”

Bettormetrics’ Trading Analytics Platform (TAP) aggregates trading performance data, offering bookmakers insights into both their competitors’ and their own trading desk performances. These insights allow for strategic changes aimed at boosting revenues and profitability.

Sabin Brooks, Bettormetrics’ Chief Revenue Officer, commented, “The disparity in uptime and potential lost revenue among the top U.S. sportsbooks is staggering. Without effective suspension strategies, it’s difficult for BetMGM and Bet365 to compete with FanDuel and DraftKings. As we approach the 2024-2025 NFL season, optimizing uptime and trading performance presents a real opportunity to close this gap.”

Bettormetrics continues to provide innovative sports odds intelligence and insights to the sports betting industry. Their Trading Analytics Platform supports sportsbook trading desks by offering cutting-edge insights and analysis on the entire event lifecycle, helping sportsbooks, data suppliers, and B2B platforms gain competitive advantages and maximize profits.