As it happens, tennis is the third most bet on sport on the site through Aug. 29. In a press release, company officials expressed amazement that so many bets were coming in for the US Open, which began on Aug. 21.
SugarHouse has designated Serbian tennis star Novak Djokovic as the men’s favorite, offering a +225 moneyline bet for Djokovic to win the whole tournament. Spanish star Rafael Nadal is slightly behind the odds on Djokovic at +250, and all-time great Roger Federer has a +450 moneyline to win the entire competition.
On the women’s side of things, perennial superstar Serena Williams is most likely to win, going off at +350. That moneyline puts Williams at a greater chance to win than defending champion Sloane Stephens, whose moneyline is +600.
SugarHouse sees massive in-game betting on tennis
The star power is not the only thing pushing bettors to wager on tennis. SugarHouse just released a host of in-game bets for the US Open, and the results have been nothing short of astounding.
“It seems that our sports bettors really started exploring our live in-game offer (on Aug. 27), with both Serena Williams and Rafael Nadal playing prime time at Arthur Ashe Stadium in New York,” said Rush Street Interactive COO Mattias Stetz.”70% of wagers on tennis are live in-game already.”
In fact, each individual US Open match can contain up to 70 in-game wagers. Bettors can wager on events as granular as the outcome of current sets, following sets, current or following games, or even the outcome of individual points.
They can also bet on whether the match will contain a tiebreaker or what the final score of a set will be. Players can make these bets at any time during the match.
SugarHouse’s in-game offering and others in NJ
By the end of the tournament, SugarHouse plans to offer 20,000 in-game bets for fans of the US Open. The site is also planning similar coverage of NFL games, with a wide variety of bets available at all times during the game.
In-game betting is appealing because of its flexibility. Players can use in-game bets as a primary betting function. They can also hedge against earlier bets that are unlikely to pay off.
SugarHouse is focusing its efforts on in-game betting as a major source of revenue and activity. Company management has made it clear that it sees a trend in the practice.
“Live in-game betting is the future of sports betting here in the US, and being able to offer interesting bets, even in games that are very one-sided, is something we always strive to offer our bettors,” Stetz said.
Of the two other online sportsbooks in New Jersey (DraftKings Sportsbook and playMGM), only DraftKings offers in-game wagering at this time. That said, playMGM cannot be far behind, and its current offering is likely just a move to get the ball rolling for MGM Resorts.
There are major similarities between the SugarHouse and DraftKings sportsbooks, however. These similarities are understandable considering that both companies used European platform provider Kambi to build and power their sites.
The only major difference is that DraftKings maintains separate sites for its sportsbook and daily fantasy sports offerings. SugarHouse, on the other hand, integrated all its online gambling functions into a single location, which may translate into a convenience edge for the operator.
The live ticket system remains the biggest innovation, however
Both DraftKings and SugarHouse also offer a style of betting that fundamentally changes the nature of sports betting, however. Though neither company may realize its importance yet, the early payout or “live ticket” (as DraftKings calls it) system allows players to cash out their bets at any point during the contest.
Live ticket cashouts have existed in European sportsbooks for quite a while. However, they are brand new on this side of the pond. Essentially, players can take a reduced payout on wagers while the contest is still in progress.
This set-up works for both player and sportsbook. The player is able to book a win and negate the chance of a last-second collapse, and the sportsbook can settle early and effectively increase its juice with the reduced payout.
However, both the live ticket option and the in-game wagers are more appealing to a world that operates on a shorter timeframe. Fewer bettors want to wait until the end of a game anymore. They would rather begin and end a wager in minutes.
So, however SugarHouse chooses to implement its sports betting, the focus on short-term bets seems like a smart decision. With the NFL season coming soon, most sportsbooks in the country are about to see their numbers skyrocket, anyway. It’s good to get the kinks worked out while there’s still time.
Without getting too politically polarizing, it’s probably safe to say that the messaging coming out of the Nation’s Capital these days can sometimes be…ah…a tad ironic.
A recent example wasn’t a statement directly made by anyone at the federal level; however, an article implicitly endorsed by the highest office in the land through one of today’s most effective forms of advertising – the all-powerful Retweet – gave an offshore, unregulated sportsbook the most prominent exposure possible:
— Dave Mason (@DaveMasonBOL) August 25, 2018
Sure, the whole thing is good for a chuckle or two. Beyond that, the original article publicizing 2020 presidential race odds from an offshore book serves as a tangible reminder of the zeal that exists worldwide for plunking money down on anything and everything with a potential binary outcome.
Oh, and the degree of free advertising a little stroking of the right folks can get you these days, too.
Unintentionally contrasting messaging from federal level
We’ve come to expect direct contradictions – within the same day, hour, hell, sometimes minute – when it comes to political issues in this day and age. Remember, the truth is no longer the truth, or so we’ve been told. This particular situation delivered handsomely in that regard.
In what might have once been considered an odd mixed message at minimum — but basically qualifies as just a ho-hum “coinkidink” these days — this all unfolded mere days after Senator Orrin Hatch laid out his latest impassioned plea for federal regulation of sports betting to his colleagues in Congress.
On his way out after 40-plus years in the Senate, Hatch is seemingly still smarting from the Professional and Amateur Sports Protection Act (PASPA) of 1992 — legislation he played a key role in crafting — being deemed unconstitutional by the highest court in the land last May 14. The possibility of a state-by-state legalized framework for sports betting that the eradication of PASPA engenders significantly reduces the chances of impropriety.
Ironically (there’s that concept again), that’s something the Utah senator doesn’t seem to acknowledge.
His push for another round of federal oversight — one that begrudgingly accepts increasingly legalized sports betting as the new reality (the “but by golly, we’re not going to make it easy for them” part is implied) — may never get off the ground anyhow. Not with upcoming time constraints related to both what remains of the 2018 legislative calendar and Hatch’s own pending retirement at the end of the year.
But if it’s going to have even 500-1 odds of getting anywhere, someone should get word up the DC food chain about the optics stemming from giving those “black market” gambling guys free publicity — even when they have nice things to say about you.
FanDuel has lived up to its name for nearly a decade with its daily fantasy sports product, a wide array of contests that pit sports/DFS enthusiasts against each other in a quest for cash. Beginning Wednesday, they’ll provide a new platform for fans to duke it out — this time with the power of the keyboard, instead of the wallet.
FanDuel Group, in conjunction with sports media and technology company Minute Media, is rolling out The Duel. A press release announcing the move describes the initiative as a “fan-generated digital platform focused on fantasy sports and sports betting news and information.”
“FanDuel is founded on the idea of bringing fans closer to the sports they love, and now, together with Minute Media, we’re letting fans into the press box,” said Matt King, CEO, FanDuel Group. “We want to give fans a designated platform for all sports and fantasy content, and The Duel is part of our broader efforts to do so.”
The Duel will focus on fantasy- and sports betting-centered news for the most popular major sports, including:
The Duel’s calling card — an eclectic mix of content, media
While fan-produced content is slated to be a major focus of the site (a call to action for those interested in writing is already in the About section), The Duel will also include a robust supply of audio and video content from FanDuel-associated personalities. The goal seems to be the striking of a balance between opinion-driven pieces on trending sports topics, sports betting-related pieces covering the activity from a number of angles, up-to-the-minute news and information, and a selection of articles and videos doling out advice for season-long fantasy players, DFS enthusiasts, and sports bettors.
Accordingly, a look at The Duel’s Day 1 edition unsurprisingly reveals a heavy emphasis on NFL content comprised of:
- Latest injury news heading into the final week of preseason and Week 1 of the regular season.
- Odds on various season-long betting props
- 2018 fantasy outlooks for specific players
- A series of videos from Gregg Sussman regarding his sports betting views on the upcoming Week 1 slate.
There’s a little something for everyone, however. A number of articles centered on division-winning odds for several MLB teams — as well as a piece examining what kind of action you can place on whether Kobe will ever play so much as a minute in Ice Cube’s BIG3 — are also currently populating the front page.
FanDuel continues expanding its reach
Given its expansive customer database and the success that the fan-driven sports content model has enjoyed in the form of sites such as Fansided and SB Nation, The Duel comes of as an innovative strategy for customer engagement at first glance. Moreover, the cross-promotion opportunities The Duel will afford the company’s DFS and FanDuel Sportsbook products will be organic and virtually limitless.
The partnership with Minute Media and the fan-content model take FanDuel into yet another new market segment in what has been an eventful summer for the DFS pioneer:
- The company reached an agreement in late June with the Greenbrier in West Virginia to provide sports betting at the private resort.
- European gaming giant Paddy Power Betfair completed its acquisition of FanDuel on July 11.
- Three days later, the FanDuel-branded sportsbook at Meadowlands Racetrack in New Jersey made its debut.
- The company officially received its West Virginia sports betting permit on August 10.
- FanDuel didn’t forget its legacy product, either, adding a number of new DFS contest types and features recently in advance of the upcoming NFL season.