“An even bigger source of growth for sportsbooks has been parlays, in which bettors string together multiple bets for the chance at a larger payout, but lose if any of the components fails to transpire. Bettors can now place same-game parlays, bundling wagers on, say, the winning team, the total points scored and a quarterback’s passing yards. (Naturally, sportsbooks offer in-game same-game parlays, too.)
FanDuel, which controls about half of the national online betting market, according to Eilers & Krejcik, leads the industry due in part to its success capitalizing on parlays. Last October in Illinois, for example, seven out of every 10 bets placed at FanDuel was a parlay, according to data published by the state’s gaming board. FanDuel made about $29.60 for every $100 bet on parlays, compared with $4.80 for every $100 in non-parlay bets.” (Wall Street Journal)
FanDuel, which controls about half of the national online betting market, according to Eilers & Krejcik, leads the industry due in part to its success capitalizing on parlays. Last October in Illinois, for example, seven out of every 10 bets placed at FanDuel was a parlay, according to data published by the state’s gaming board. FanDuel made about $29.60 for every $100 bet on parlays, compared with $4.80 for every $100 in non-parlay bets.” (Wall Street Journal)
