FanDuel Sportsbook Just Paid Out All Alabama Bets To Win National Title

Dustin Gouker December 1, 2018 2815 Reads
Alabama futures bet

If you bet on Alabama to win the national championship at FanDuel Sportsbook: Congrats, you’re already a winner.

FanDuel Sportsbook pays for the Crimson Tide

FanDuel announced that it was paying out any futures bet that it’s taken on the Crimson Tide to win the national title. If you’re keeping track, that’s before Alabama even plays in the SEC Championship game or has officially reached the College Football Playoffs.

“Alabama’s historic and seemingly inevitable march to Levi’s Stadium deserved a history-making gesture to our customers,” said Mike Raffensperger, CMO of FanDuel Group.  “While the college football season has not had too many surprises, we wanted to surprise our customers today, thank them for their loyalty, and prove there are More Ways to Win on FanDuel.”

More from FanDuel in its announcement:

Any single futures bets on Alabama were paid out to customers today. When taking into account Alabama championship futures that are involved in parlays, the early payout could be nearly $400k. Retail customers with a physical bet slip dated prior to November 30th can redeem it for the full amount starting this afternoon at any FanDuel Sportsbook location.

Any future wagers placed on Alabama after 5 PM ET on November 30th do not qualify for an early payout.The early payouts apply to anybody holding a physical ticked on a bet placed at the Meadowlands or on its online sportsbook. In fact, FanDuel indicated that it already credited bettors accounts on the mobile app.

Christmas comes early for FanDuel bettors

Alabama is the odds-on favorite to win the national championship — they are currently listed at -280 if you wanted to bet on them today. And as such, FanDuel likely would have ended up paying out all these bets anyway.

But there is some risk in it, if Alabama doesn’t win, they’ll be paying out two futures bets. Of course, Alabama will be a fairly large favorite in all of its remaining games.

That includes the SEC title game against Georgia, where Alabama is a 13-point favorite at FanDuel.

While American sports bettors might be new to this kind of promotion, it’s a common move to generate some press across the pond.

“FanDuel is a customer first company and innovations like an early payout of a major sporting event is a great example of what can be done in a legal and regulated sports betting market to benefit the consumer,” Raffensperger said.  “Even if Alabama loses its next game or doesn’t win the national title, this was something that we wanted to do to celebrate our customers and show why we are the most innovative and fun sportsbook in the United States.”

But wait, there’s more

FanDuel commonly does odds boosts — enhanced odds on certain outcomes — for its users. It added one for FanDuel along with the futures bet payouts:

You can bet Alabama to cover the spread against Georgia at +150 odds instead of the normal -110, with a max bet of $25.

There’s also odds for a potential national title matchup against Clemson; Alabama is installed as an eight-point favorite in that hypothetical matchup. Bets will be voided if those teams don’t meet for the championship.

Clarification: This story initially said that the early payout included the FanDuel Sportsbook at IP Casino in Biloxi, Mississippi. That is not correct.