Not wanting to be left out of the highly popular same-game parlay market offerings in sports betting, Kambi announced Wednesday that it had launched “Game Parlays” ahead of Thursday’s NFL season opener between the reigning Super Bowl champion Tampa Bay Buccaneers and Dallas Cowboys.
Game Parlays will allow bettors utilizing sportsbooks on the Kambi platform — BetRivers, Barstool Sportsbook, Unibet, and Parx in Pennsylvania — the opportunity to combine main and player prop bets across a single game or multiple games. FanDuel was the first to offer single-game parlays, with other sportsbooks following suit and the gamesmanship accelerating since the NFL publicly embraced sports betting in April via partnerships with FanDuel, DraftKings, and Caesars.
“Game Parlays is an exciting product not just for Kambi, but for our partners and their players alike who increasingly want to create their own bets through a combination of outcomes not only within the same game, but also across multiple games and sports,” Kambi Senior Vice President of Trading Simon Noy said in a statement. “We are delighted to provide players with our enhanced American football product ahead of the upcoming season which we’ll continue to strengthen as the season progresses, as well as expanding into other leagues and sports in the future.”
High win rate on parlays for sportsbooks
The Pennsylvania Gaming Control Board does not break out handle and revenue by sport or category, but noted that operators collected nearly $9.4 million in revenue from $53.6 million worth of wagers on the Super Bowl in February. Sportsbooks in the Keystone State have accepted more than $3.3 billion in total bets this year and should exceed the more than $2 billion wagered in the final four months of 2020, given what is expected to be an advertising onslaught during televised NFL games.
Though not all states report parlay wagering handle and revenue, its popularity has been a key component in the rapid growth across the United States. In the seven states where such reporting is available, including neighboring Delaware and New Jersey, more than $2.1 billion has been bet on parlays this year — approximately 8% of the $26.6 billion wagered overall nationally.
The Garden State alone accounts for more than half that total, with sportsbooks reaping $226.3 million in revenue from more than $1.2 billion in such wagers. The 18.5% win rate for the house there is more than double the current 7.9% nationwide win rate on gross gaming revenue in 2021.
Photo by Sinisa Botas via Shutterstock