DraftKings Faces Parlay Blow As NFL Betting Action Heats Up

Benzinga_recent_news09-09

Bank of America Securities analysts weighed in on the U.S. sports betting landscape following the opening week of National Football League and college football action, observing a complex yet broadly ...

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In Week 1, twelve favorites were covered, and nine favorites won outright, but only two overs were hit. \nThis combination likely resulted in average outcomes for the books. Standalone primetime games, especially the Buffalo Bills' comeback against the Baltimore Ravens on Sunday night, delivered favorable results for sportsbooks. \nProp betting produced mixed results, as only two of the five most popular touchdown scorer picks cashed at BetMGM. \nHowever, DraftKings DKNG absorbed a hit when a pre-packaged +2400 parlay, tailed by nearly 37,000 users, paid out.\nDraftKings ran the most aggressive promotional campaign, offering new users $300 in bonus bets plus $200 off NFL Sunday Ticket for a $5 wager. \nFanDuel followed with a $5-for-$300 promotion if the bet won, while rivals dialed back offers, BetMGM's $10-for-$150, Caesars' $50-for-a-bonus bet, and ESPN Bet's $10-for-$100.\nAmong prediction and daily fantasy operators, Kalshi promoted $10 after $100 in trades, while PrizePicks and Underdog offered to play $5 and get $50. On the App Store's sports chart Sunday, DraftKings and FanDuel ranked in the top five, with Bet365, PrizePicks, and Underdog landing in the top ten.\nUnderdog, in partnership with Crypto.com, became the first daily fantasy operator to launch sports prediction markets, now available in 16 states without legalized online sports betting. \nPolymarket also relaunched in the U.S., offering markets over the weekend. Kalshi introduced a parlay product by self-certifying an event contract with the CFTC. Each leg trades as an independent liquid market, though Kalshi cannot offer same-game parlays due to probability requirements.\nAnalysts said sportsbooks thrived during college football's opening week. New York Weekly hold reached 11.9%, with handle up 39% year-over-year and gross gaming revenue (GGR) soaring 119%. DraftKings reported handle growth of 11% and GGR up 113%, while FanDuel posted 7% handle growth and 61% GGR growth.\nPrice Action: DKNG shares traded lower by 1.35% to $45.93 at last check Monday.\nRead Next:\nPhoto via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.10","shortVersion":"4.35.10","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2566358816","isCrawlerRequest":true}