As spring arrives, so does the excitement of Major League Baseball and the NCAA tournaments' Sweet 16. While this might not be the peak season for sports betting, the interest remains high, prompting sportsbooks to roll out new offerings.
In this latest edition of Gambling Insider's Bingos and Busts, we highlight some notable developments in the industry.
Bingo: Fanatics Innovates with Squad Bets
Reflecting on advice from my high school teacher about betting on parlays, it’s clear that while they can be risky, Fanatics has introduced a fresh take with its Squad Bets. This new wagering option allows bettors to select three to six players and a specific statistic to target. For instance, if you choose three hockey players to score a total of three goals, and one achieves a hat trick, you win. This format offers a better chance for bettors, even if one player's performance falters.
Bust: DraftKings Launches Historical Baseball Microbetting
On the other hand, DraftKings has introduced a controversial product called “DK Replay” in Oregon, which allows bettors to wager on historical baseball at-bats without knowing the players involved. This concept has drawn skepticism, as many see it as a way to exploit bettors by offering wagers on events that have already occurred. Critics argue that while it may not resemble traditional slot games, the fast-paced nature could attract players who enjoy that style, raising concerns about problem gambling.
Ultimately, while DraftKings faces backlash, the focus should also be on the regulatory framework in Oregon that permits such innovations.