This NFL season has proved difficult for sportsbooks, primarily due to an unusual trend where betting favorites performed well, leading to large payouts to casual gamblers. Analysts noted the tendency of bettors to favor the winning teams, particularly evident in December. An example is the final Monday Night Football game, which highlighted this trend with both the favored Lions winning and hitting overs. As a result, sportsbooks like FanDuel faced revenue forecasts declines for 2024, anticipating a $370 million loss, marking this season as the most favorable for bettors since online sports betting began.
When favorites win, the public usually wins," Chad Beynon, senior analyst at Macquarie, told Business Insider. "So in December, a lot of people won money.
This MNF game is one of the most glaring examples of unfavorable sports outcomes, with almost every prop bet along with the game lines of the Lions as favorites and the over on total points all hitting," MoffettNathanson wrote in a January report.
The 2024/2025 NFL season to date has been the most customer friendly since the launch of online sports betting with the highest rate of favorites winning in nearly 20 years," Flutter wrote in the announcement.
FanDuel owner Flutter said on January 7 that it expected US revenue for 2024 to be about $370 million lower because of this "period of very unfavorable US sports results."
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