There will almost certainly be more money wagered on the National Football League this upcoming season than ever before — and sportsbook operators are rolling out new features, promotions, and betting markets to ensure customers choose them over the competition.
The start of the NFL’s regular season this week arguably marks the most crucial time of year for online sports wagering operators.
Yes, baseball is all well and good, and basketball is definitely on the rise, but the NFL is still the undisputed heavyweight champ of legal sports betting.
“The NFL season is our biggest acquisition period of the year,” FanDuel President Christian Genetski recently told CNBC.
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— American Gaming Association (@AmericanGaming) September 3, 2024
In New York, for instance, $1.1 billion was legally bet using the state’s mobile sports wagering apps in Aug. 2023. But by October, that monthly wagering had almost doubled to $2 billion, showing the lift the largest market for online sports betting in the U.S. gets when the NFL is in session.
The American Gaming Association (AGA) also estimates U.S. adults will wager $35 billion this NFL season, up 31% compared to the previous campaign. Recently legalized markets such as North Carolina will contribute to what the AGA says will be “the most legally wagered-on season” in NFL history.
Those wagering numbers are being boosted by a maturing market and the efforts of operators to win more business from bettors. Even though the industry has seen some consolidation of late, there are still several up-and-coming bookmakers trying to win over customers, as well as incumbents seeking to regain what they’ve lost or grow even larger.
That competition is at least partly responsible for recent announcements by operators about all the new things they’ll have this NFL season, which could help companies stand out from the crowd.
BetMGM said 2024 is an “investment year” intended to acquire customers, with the operator recently announcing it will have its “largest set of football betting markets ever” this season.
According to a press release, BetMGM has almost 1,000 futures markets for the 2024 football year and more than 450 ways to wager on each NFL game.
Those markets are being priced with the help of Angstrom Sports, which BetMGM-co-owner Entain PLC acquired last year. Angstrom’s technology allowed BetMGM to offer “the sports betting industry’s most extensive home run markets,” the operator said late last month, and those same sorts of models are now being used for football.
Until recently, BetMGM had lagged behind others when it came to the ever-popular (and ever-profitable) same-game parlays. This season, thanks to Angstrom, BetMGM says those SGPs will be easier to build.
“Leveraging our powerful in-house technology, we developed a more seamless, intuitive and integrated product,” CEO Adam Greenblatt said in a statement.
Some efforts seem subtle but could prove effective as bettors become more informed. SuperBook Sports, which recently announced it was withdrawing its online sports betting platform from every state but Nevada, will at least offer Silver State bettors an intriguing promotion for the NFL, dropping the default odds on sides to -108 from -110.
It’s a seemingly small thing. But for bettors who wager a lot, those two cents can add up over a season. That could convince some punters to take their business to SuperBook for any given bet, either online in Nevada or at the operator’s retail location in Las Vegas.
“It’s certainly for an educated audience,” said Jay Kornegay, vice president of race and sportsbook operators at the SuperBook in Las Vegas.
