Casino Customer Turns $20 Into A $178k Win On Sports Betting
Casinos are loving sports betting in New Jersey. Big revenues and great public relations stories
Last week, an unnamed bettor on the FanDuel online sportsbook hit a remarkable series of bets that produced a life-changing win of $178,221.65.
In New Jersey, FanDuel is partnered with the Meadowlands Racetrack where it provides both live and online sports betting. Since launching in August last year, the online operator has propelled the property to number two in the New Jersey market by revenues.
The next revenue report will be down by $178k after accounting for the big payout, but the marketing value of reporting the win should more than make up.
$20 into $178,000 was a very, very long shot
The bet was an incredible 15-leg parlay. To win the bettor hit eight spreads, four underdog moneylines, and three first-half moneylines across 15 different basketball games. The odds of making the bet were an insane 16,500 to 1.
The original bet was obviously made just for fun. A little
risk with a potentially huge payoff with the added benefit of a lot of sweats
along the way. That’s precisely the marketing message FanDuel wants to send.
The Millennial demographic is noted for its focus on value for money. They don’t want simple bets on the outcome of a game. They want their bets to increase the entertainment value of watching a game.
This extended parlay bet is exactly the type of product which appeals to this market. The new in-game betting options extend the possibilities for maximizing entertainment value even further.
Sports betting is paying off for casinos as well as customers
New Jersey’s casinos almost all have live and online sports betting products up and running. Yesterday’s revenue reports from the Division of Gaming Enforcement (DGE) showed just how much money the new activity is generating.
Total handle for January was $385 million and it is growing at double digit pace.
Casinos in states where sports betting is not yet legal are keen to get a piece of this action. In New York they are all set up and ready to go, but regulatory delays mean action won’t begin until later this year. With winning stories like this one, New York sports bettors must also be champing at the bit to get going.
The casino industry is going through an enormous makeover to accommodate newly legalized sports betting. Big slots wins have made great PR for years, but now the news is picking up some pretty impressive sports betting payouts.
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