First Tremendous Bowl-Solely Fantasy Contests At DraftKings, FanDuel Do USD12M+ In Deal with

DraftKings and FanDuel provided single-game fantasy contests based mostly on the Tremendous Bowl for the primary time of their histories this Sunday.

How’d they do? The 2 daily fantasy sportsbook websites mixed to take practically USD13 million in entry charges that generated slightly below USD2 million in income, in accordance to a sampling of the publicly viewable contests on the two DFS operators. The lion’s share of each figures went to DraftKings.

DraftKings, FanDuel and single-game contests

Sunday’s recreation between the Philadelphia Eagles and New England Patriots was the primary time both firm let customers choose gamers simply from the Tremendous Bowl for a daily fantasy soccer contest.

DraftKings had carried out contests based mostly on each the Professional Bowl and Tremendous Bowl earlier than, however by no means only one. The explanations for avoiding single-game contests typically needed to do with assembly the stipulations concerning paid-entry fantasy contests within the Illegal Web Playing Enforcement Act. However new state-level fantasy sportsbook legal guidelines across the US seem to permit for single-game contests.

DraftKings had rolled out its new contest format — Showdown — for the playoffs and had contests operating all through the postseason (together with contests only for the Professional Bowl). FanDuel’s providing got here out later.

What went down on Sunday

The 2 websites generated an excessive amount of curiosity for the brand new choices.

The assured prize swimming pools for the 2 largest Tremendous Bowl-contests at each DraftKings (USD2.4 million) and FanDuel (USD2 million) had been roughly consistent with what they’d would assure throughout the common season. The full quantity of entry charges, nonetheless, fell properly in need of what the websites would see on a traditional NFL weekend, not surprisingly.

DraftKings noticed about USD8.2 million in entry charges within the pattern examined by Authorized Sports activities Report, with the positioning holding about USD1 million of that in income. The figures at FanDuel had been USD4.7 million in deal with and USD700K in income.

How’s that examine to sportsbook betting?

The DFS efficiency on the Tremendous Bowl comes as we additionally realized the quantity of wagered on the Huge Recreation in Nevada sportsbook betting.

Whole deal with on the Tremendous Bowl at Nevada sportsbooks: USD159 million. Whole income? USD1.6 million.

The income facet of issues factors actually paints a rosy image for DFS. Sportsbooks held lower than one p.c of all cash wagered; on common, books maintain round 5 p.c. The 2 largest DFS operators generated nearly as a lot income as Nevada books did on far much less deal with.

Therein lies the rub, nonetheless. DFS is a nationwide product in additional than 40 states, Canada and a few European international locations (for DraftKings). Nevada, in the meantime, is only a small state with an inflow of individuals coming simply to observe and wager on the Tremendous Bowl. The sum of money flowing by means of the Nevada sportsbooks was greater than 10x DFS deal with for the US and past.

When you can name the contests profitable, I’d say classifying them as a “new hit” goes too far. (Additionally, all FanDuel and DraftKings have carried out is boiled down DFS to a single recreation, an apparent evolution if ever there was one.)

If something, the contests level out the big hole in alternative between a future authorized sportsbook betting market within the US and DFS. And it’s most likely why we’re once more listening to chatter from DraftKings that it desires to get into the sportsbook betting enterprise.