Super Bowl buzz: Sportsbooks eye Taylor Swift Effect; BetMGM’s deal with Elon Musk’s X

Super Bowl buzz: Sportsbooks eye Taylor Swift Effect; BetMGM’s deal with Elon Musk’s X

PATRICK T. FALLON/AFP via Getty Images

Ahead of the biggest event of the year for the sports betting sector, Morgan Stanley reminded that the Super Bowl remains one of the key periods outside the beginning of the NFL season to acquire customers and more casual bettors. Analyst Stephen Grambling thinks this year could be a boom year, with the Taylor Swift Effect estimated to drive viewership up about 10% and expand sports engagement and/or betting audience as evident already in unique bets outside the U.S. and with the jump in prop bets volume this year. Based on the expectation for an explosion of sports betting, sportbooks have been offering competitive odds this year on the Super Bowl based on the “overrounds” or the difference in the implied hold rates to prior years or other major events. In particular, BetRivers (RSI) and Wynn Bet (WYNN) have been aggressive with overrounds on the moneyline bet closer to 100% (break-even for the sportsbooks). Meanwhile, DraftKings (NASDAQ:DKNG) and FanDuel (FLUT) were slightly more customer-friendly than peers on the point spread.

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