Four of the top five U.S. sportsbooks potentially lost over $160.7 million in revenue during the 2023-2024 NFL season due to extended suspension times and poor pricing strategies, according to a report released Thursday by sports odds intelligence firm Bettormetrics.
The report analyzed last season’s NFL games and found that sportsbooks, including BetMGM and Bet365, were suspended from in-game betting for an average of 5-10% longer per game than market leaders, leading to significant lost revenue. Suspension occurs when a sportsbook temporarily shuts down betting lines to adjust odds based on the event’s developments.
Bettormetrics highlighted major disparities in uptime — the period during which sportsbooks are accepting live wagers. DraftKings, which led the market, averaged 96.1% uptime during NFL games last season, while Bet365 lagged behind at 85.5%, potentially costing it $4.6 million in revenue.
With the American Gaming Association predicting NFL betting to surge by 30% in 2024, reaching $35 billion, Bettormetrics estimates that tier-one operators could collectively lose over $220 million this season if they fail to optimize their suspension and pricing strategies.
“DraftKings is clearly the team to beat when it comes to NFL betting,” said Robert Urwin, Bettormetrics’ Co-Founder and CEO. “With the most uptime during NFL games and the least amount of time suspended, DraftKings has a grip on the most critical betting season in the U.S. FanDuel is close behind and could make up the distance with a few tweaks in their suspension and trading strategies.”
Bettormetrics’ Trading Analytics Platform (TAP) aggregates trading performance data to help bookmakers gain insights into both their competitors’ performance and their own. By using this data, sportsbooks can make adjustments that could boost revenue and profitability.
“It’s staggering to see the difference in uptime and therefore potential lost revenue between four of the top sportsbooks leaders in the U.S.,” said Sabin Brooks, Bettormetrics’ Chief Revenue Officer.
“Without the proper suspension strategy, it’s extremely difficult for BetMGM and Bet365 to begin to catch up to FanDuel and DraftKings. As we begin the 2024-2025 NFL season, there is a real opportunity to close some of the gap if those two bookmakers can optimize their uptime and trading performance,” he concluded.