DraftKings Faces Parlay Blow As NFL Betting Action Heats Up

Core Insights - The U.S. sports betting landscape is complex yet favorable for operators, influenced by changing bettor preferences, aggressive promotions, and new prediction market products [1] Group 1: Betting Trends - NFL bettors typically favor three types of wagers: favorites winning outright, favorites covering the spread, and overs hitting [2] - In Week 1, twelve favorites covered, nine favorites won outright, but only two overs were hit, leading to average outcomes for sportsbooks [3][4] Group 2: Promotional Strategies - DraftKings led with aggressive promotions, offering new users $300 in bonus bets and $200 off NFL Sunday Ticket for a $5 wager, while FanDuel offered a $5-for-$300 promotion [5] - Other competitors like BetMGM, Caesars, and ESPN Bet reduced their promotional offers significantly [5] Group 3: Market Performance - College football's opening week saw sportsbooks thrive, with New York Weekly hold at 11.9%, handle up 39% year-over-year, and gross gaming revenue (GGR) soaring 119% [8] - DraftKings reported 11% handle growth and 113% GGR growth, while FanDuel posted 7% handle growth and 61% GGR growth [8]