Originally Posted by
mickeycrimm
@chinamaniac
-Operators offshore have made some adjustments to protect themselves
-Brick and Mortar establishments have made significant efforts to stop the blood shed that they were taking
I guess it depends on your measuring stick, but I don't detect operator bloodshed. The US operators (outside Nevada) have consistently generated big profit margins which are now bigger than ever. But technically in some cases the operators may not be "profitable" because of debt loads.
Good read from LSR:
https://www.legalsportsreport.com/11...ng-hold-trend/
I need to look into their podcast.
First graph in the article shows nationwide hold % rising from 6 toward 9% in the five-year span of legalized sports. As shown in the second graph, this is largely attributable to FanDuel which individually is now >11%. How do they get 11% when the standard -110 edge is 4.5? Likely suspects are live, in-game betting; and parlays. Margins on same-game parlays "anecdotally approach 20%."
Nevada is still down in the 5s (but with big margins on the dwindling parlay card action). Latest 12-month numbers:
NV mobile sports is only holding 4%. Another LSR article indicates 66% of NV's volume now originates online, although I'm not sure how that squares with those numbers. Nationwide, volume is overwhelmingly online. New Jersey now exceeds 96% online. Eyeballing the NJ data (on another site), hold % appears roughly the same online as retail (b&m).
Incidentally, below are the NV #s from 20 years ago when the only online options were offshore:
Those hold %s look roughly the same as today. Horse book win was in the 80s compared to only 30 million this year. Statistically it's not true that we're more obsessed with Race today.