Tiger Woods Buries Sportsbooks In Nevada, New Jersey With Unforgettable Win At The Masters
The Masters produced more magical moments this year thanks to Tiger Woods capturing his fifth green jacket. But Woods wasn’t the only big winner on Masters Sunday.
Sportsbooks take seven-figure losses on WoodsWagers were coming in early and often on Woods prior to the tournament, and then throughout the four-day tournament. Odds for a Woods win were sitting at around +1400 (14-1) at most US operators, including DraftKings Sportsbook. Both FanDuel Sportsbook and FOX Bet in New Jersey both had 100-1 longshot promos that would ultimately prove costly for both books. BetStars reported taking an approximately $360,000 net loss on its Masters futures market, the largest in the company’s brief history offering sports betting in the U.S. But the Tiger Effect really hit hard at FanDuel.
- First, the fantasy sports giant refunded all fantasy golf customer who entered the $1 Million Mega Eagle daily fantasy contest for The Masters. FanDuel’s promotion offered a full refund if Tiger Woods won, regardless of whether Woods was in a person’s fantasy golf lineup or not. The $1 Million Mega Eagle contest was FanDuel’s biggest fantasy golf contest ever and more than $1 million in promotional entry fees was refunded.
- Second, FanDuel Sportsbook suffered a loss of more than $1 million in winning prize payouts when Woods won. Only 10% of all bets to win the Masters outright were on Tiger at the start of the week, but as Woods made his move into the weekend and on Sunday, FanDuel Sportsbook had nearly 21% of bets and more than $1 million in liability on Tiger to triumph.