Point Spreads’ Post

We explore how the top #sportsbooks are gearing up for the #NFL season after an eventful summer that included the Euros, Olympics and Copa America, with insight from DraftKings and ESPN Bet. https://lnkd.in/d4AFMjmv

When Taylor Swift attends a Chiefs game, the sports betting volume for Travis Kelce doubles. 📈🏈 In our latest Athleisure edition, we 'follow the money' into the world of sports betting. What's telling is not only how much is wagered, but crucially where those bets are placed and who's doing it: - Prop bets account for 30% of all Super Bowl bets, many barely related to on-field action - Women now comprise 32% of sports bettors, up from 24% in 2019 - The number of women betting on the Super Bowl increased by 51% this year These shifts reflect a broader change, putting the money where the mouth is on sports fan interest, driven by: entertainment, cultural relevance, and personal connections to athletes. For this emerging majority of fans, sports is the core, not the whole. The next cultural moment is becoming more valuable than the next championship. Betting acts as the sports industry's bellwether. To understand where it's headed, we highly recommend following the money, the memes – and ofc, subscribing to Athleisure! Read the full edition in link below. #SportsBetting #FanEngagement #SportsBusiness #Athleisure cc. Candace Stewart Boys Club

The Varsity 1. It seems increasingly possible that ESPN’s decision to sublicense games to Warner Bros. Discovery might end up being scrutinized by regulators—for reasons pertaining to Venu, f.k.a. “Spulu,” the streaming sports joint venture between Disney, WBD, and Fox. 2. Operating on the theory that WBD is on the outside looking in with the NBA, many will suggest that WBD should sell its rights for the 2024-25 season to NBC, allowing the network to get back into the NBA business a year earlier than planned. But I don’t expect it to happen. 3. Cathy Englebert on Pat McAfee/Stephen A.: “Being in the mainstream conversation is a good thing. This is what comes with the rise of being a growth stock..." 4. The most notable detail of Diamond's bankruptcy hearing this week affair was the NBA’s lawyer pushing back on a proposed six-week delay. The league, which was once among the friendliest with Diamond, has truly lost its patience with the R.S.N. company. 5. It’s one thing to create a marketing campaign around your biggest sports events, like the Super Bowl or World Series. But Fox Sports is preparing a marketing blitz around a couple of MLB regular season games and a Triple Crown horse race this Saturday. Players of the week: Gary Bettman: If you're going to gave Florida and Edmonton in the Stanley Cup Final, you should have them in the third year of a seven-year deal. (The NHL has already enjoyed a rollicking ratings postseason.) Jimmy Pitaro: If both the NBA Finals and the NHL Stanley Cup Finals go to seven games (I know, a big if…), ABC will feature a big-time sporting event in primetime for 14 of the next 19 nights. Down to the J.V. Eddy Cue: Tomorrow night should have been a huge boon for Apple TV+, which had exclusive rights to the Dodgers-Yankees game. But, Apple is allowing YES Network and Spectrum SportsNet to simulcast the contest in New York and Los Angeles, respectively. Plus, the NBA may be a league with great stars and incredible content, but it’s also benefiting from the fact that there won’t be any other major rights to acquire for the foreseeable future. Other than the UFC, whose deal with ESPN expires next year, there really won’t be any big-time sports rights up for renewal until 2029, which is when the NFL is expected to exercise an out in its contracts. https://lnkd.in/eudYuQak

It's the dog days of the summer sports betting season and Michigan sports betting handle in June was, predictably, down 20% from May. The good news? Handle was up 21% compared to June of 2023. Through the first six months of 2024, Michigan has posted record sports betting handle of $2.6 billion and is on pace for its first $5 billion handle year. Other takeaways: • With handle of $82.8 million in June, DraftKings Inc. Sportsbook surpassed $4 billion in lifetime bets in the Great Lakes State. • FanDuel will top $1 billion in bets in 2024 in Michigan in July. • The ESPN BET market share slide finally halted in June. Though, the operator had lost market share in every month in 2024 so far, in June it had 7.1% of the Michigan market, the exact same share it had in May. #michigan #sportsbetting #sportsbooks #gambling #gamblingindustry #handle #revenue #record

Vermont's sportsbooks faced a challenging April, with total bets dropping to $17 million, down 15% from March. Despite this, adjusted revenue increased to $1.6 million, thanks to a higher hold percentage. Interestingly, the number of bettors grew to 40,000, but the total number of wagers declined. The average wager increased from $20.35 to $23.15, with basketball leading at $6.05 million in bets, followed by baseball and tennis. Vermont's sports betting launched in January with a strong start, but sustaining those figures has proven difficult. The summer months, dominated by baseball, will be crucial in determining if Vermont can boost its handle. Read more on this article: https://lnkd.in/e7CeQJhr #SportsBetting #Vermont #BettingTrends #GamblingIndustry #SportsBusiness

NBA All-Star Weekend has always shined a light on the players, but off the court their rate of growth in audience size and partnership deals is starting to surpass even the association in some ways, including: Social following: Not only did players surpass 1 billion cumulative followers across the league, the all-star game roster alone has more followers (525M, then all teams and the league combined (491M) Endorsements: Players now have a 22% share of all marketing partnership deals across the NBA teams and players. Just counting the all-star roster, they have 139 individual endorsements, or an average of almost 6 per player. With college basketball players becoming more savvy in how they leverage their name, image and likeness, this trend will only continue as they enter the league with fully built-out rosters of brand partnerships, combined with a greater desire from the marketing community to work with athletes. (Credit: SponsorUnited) #endorsements #nba #nil

When I was younger, I played volleyball Club Internacional de Arequipa in Peru. After each practice, the whole team would stay to play pick-up games. Some of my fondest memories are from those matches. The intensity would often rise when there was a symbolic bet on the table, like $2 per player per set win. It may have been a small amount, but it meant the world to us. Those $2 represented not just our ride home but also our pride and proof of our skills. As I became one of the older players on the team, I began to question the validity of such a betting system. I always encouraged my teammates to avoid it. When they asked, "Why should we play then?" my response was, "Just for the sake of it." Everybody laughed. It didn't matter. Recently, the NBA banned Jontay Porter for life for his involvement in a betting system while playing for the Toronto Raptors. It made me reflect on how motivations can change over time and lead to regrettable outcomes. I doubt he's the only one who has been involved in such activities. What I am certain of is that if someone can't be accountable in the small things, chances are they won't be accountable in the big things either. This aligns with what Clayton Christensen wrote in his book "How Will You Measure Your Life" – that it's crucial to avoid the marginal cost of "just this once." It's easier to hold onto your principles 100% of the time than 98%. The NBA official statement can be find here: https://lnkd.in/gGpvaWyj Clayton M. Christensen article about his book can be find here: https://lnkd.in/gK_Zbaej #TeamBonding #Sportsmanship #Accountability #Leadership #Integrity #PersonalResponsibility #SportsAndEthics

The embrace of sports gambling money by the major U.S. sports leagues is a big change over the past 6 years. In many respects, it is still too early to tell what the full impact of that shift will be. But the recent gambling scandals in three of the leagues are like the writing on the wall: The Reckoning Is Coming. Here's my latest for Inside The Rink on the tricky spot in which the leagues find themselves. There's a crisis brewing and there are no easy solutions. I hope you'll give it a read. National Hockey League (NHL) National Football League (NFL)Major League Baseball (MLB) National Basketball Association (NBA) #crisis #crisiscommunications #pr #crisismanagementn #sports #sportsbetting  https://lnkd.in/eEcEPSCi

NWSL viewership almost equaled that of the Major League Soccer championship, said Sixth Street co-founder and CEO Alan Waxman. Yet, NWSL currently sees about 1% of the advertising, sponsorship, media and investment dollars. Everyone is always talking about the cost of client acquisition. This is an ENORMOUS opportunity for advertisers, sponsors, and media companies to take advantage of this large fan base at a fraction of the cost that they pay the MLS. NCAA Women Beat Men in Finals’ Ratings for First Time—but Got 99% Less TV Money. Women’s basketball championship game drew 18.9 million viewers vs. 14.8 million for the men’s final. Again, what an opportunity for advertisers, sponsors, and media companies. For investors in women sport franchises, it's definitely time to invest in women's sports. https://lnkd.in/eDep_PFZ

Last year an estimated $15.5 billion was wagered on the men’s NCAA tournament, according to the American Gaming Association. That gargantuan number should only grow this year. Since the UConn men’s team cut down the nets last April, several more states have launched mobile sports betting, and now that list includes North Carolina. The debut greenlights the biggest test yet for perhaps the most intriguing sportsbook challenger to the U.S. duopoly of DraftKings and FanDuel. ESPN Bet has a stated goal of eventually reaching 20% market share but has been playing catchup since its November launch. Some recent data shows ESPN Bet has plenty of work to do. Research firm Eilers & Krejcik Gaming estimates the national market share for December to be: FanDuel: 41.32%, DraftKings: 32.54%, BetMGM/Borgata: 6.34%, Caesars/William Hill: 4.94%, ESPN Bet: 4.68%. But in North Carolina the fledgling app, will get its fairest fight so far, as it simultaneously looks to secure potentially millions of first-time bettors in the state with sign-up bonuses. Penn is making an aggressive push to woo N.C. bettors, including advertising for the launch on ESPN’s First Take and Get Up, in addition to sending Stephen A. Smith to a fan event at a Charlotte pickleball bar and entertainment center later this week. But the duopoly is making sure North Carolina feels its presence, too. FanDuel has teamed up with the Panthers, becoming their official sports betting partner. DraftKings, meanwhile, signed up Panthers legend Greg Olsen to place the ceremonial first bet. While North Carolina’s launch will be an interesting test case in some regards, ESPN Bet will still have its hands full. #DrexelSBIZ #SportBusiness #Sportsbetting #FanDuel #DraftKings #ESPNBet #BetMGM #ESPN #CarolinaPanthers