Exploring the Surge in Same Game Parlay Bets in 2024
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00:00I mean, these are staggering numbers for the same game parlays.
00:06I'm glad you brought it to the show today.
00:07262 million same game parlay bets across Flutter's key brands.
00:14FanDuel, of course, being one of them.
00:16262 million same game parlays.
00:21I mean, Matt, I don't want to say that there are 262 million suckers out there.
00:25I'm not going to do that.
00:27I'm not going to do that.
00:28Well, come on, come on.
00:31Like you got to be better than that.
00:32No.
00:34Yeah.
00:34I bet 262 million same game bets.
00:38That was only in the fourth quarter.
00:39It's only October, November, December.
00:42And that's up 70, almost 75% from the year before.
00:47Um, it was interesting Flutter over the weekend or right before the weekend,
00:51they kind of dropped this, this press release on their website almost.
00:55And there wasn't a whole lot of fanfare about it, but it talked about how same
00:59game parlays have really changed the sports betting business and where it
01:03came from and how it started in 2014 over in Australia and eventually went live
01:08in 2016 with the Australian football league.
01:10Um, but yeah, there's some really interesting details in here because
01:17when you're betting parlays, parlays lose more often than the straight bets
01:22because you have to hit more straight bets than just one to win.
01:25Right.
01:26And so they're, they're bumping up your margin.
01:28They're bumping up how much profit you can pull out of sports betting.
01:32You know, when sports betting was, was just fresh in the U S in 2018, and we
01:37had this legislative push to get sports betting live in States, we said that
01:43sports books held about 5% of, of the bets at that point, and now it's getting
01:49closer to 9, 10, 11% and going up as more of this mix turns into same game
01:56parlays and not just same game parlays.
01:58But then you get to the point, Craig, where you're able to
02:00parlay multiple same game parlays.
02:03I mean, this is, it's a, it's like an ATM for these sports books.
02:07And look, when the winners hit, they love it, right?
02:09Because you're, you're making bucco bucks off of that five, 10, 15 bucks
02:14you put down to, uh, to wager on the parlay.
02:17You're, you're obviously way above that when you're talking about
02:20the same game parlays for wins.
02:23But, um, you know, more often than not, you're not winning.
02:26And so these sports books love same game parlays.
02:30They love how it's changing the industry.
02:33They love how it's changing their financials.
02:35And we definitely have not seen the end of same game parlay innovation for sure.