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00:00And a report here from BetMGM, Sam, it should be no surprise to people who pay attention
00:05to sports betting, watch our network throughout, that this year, unlike other years in the
00:10National Football League, the favorites won and covered quite a bit, especially the big
00:15favorites in the NFL, 6.5, 7, 8, 10.
00:18I mean, that's sort of unprecedented in this world of sports betting.
00:22Usually it's the dogs that covering and then they build another hotel in Las Vegas, as
00:25I like to say.
00:26But this year, not the case.
00:27The books took a little bit of a hit.
00:28What's this report from BetMGM, does it change anything for any of these sports books taking
00:32the hit this year?
00:33Yeah, it's really interesting.
00:36Like you say, we usually don't have this kind of thing happen.
00:38But I think one thing that I think everyone is learning from this mass legal expansion
00:43of sports betting with everything going digital online is we really have no idea what to expect
00:48now.
00:49You know, we have an unprecedented run of favorites winning in the NFL.
00:52In the past, you might think that, OK, yeah, the public is going to bet heavy favorites.
00:56So that means that the sports books are really hurting.
00:59We even saw this on the Super Bowl last year where the public won pretty much every big
01:02bet on the spread, the total.
01:04But then the books actually ended up cleaning up because of player props and same game parlays.
01:09But not all sports books are created equal.
01:12BetMGM, they came out and said, you know, despite this crazy run that's impacting other
01:17companies like FanDuel, you know, a company we talk about is like pretty much the leader
01:20in the space.
01:22It's impacting them pretty hard.
01:23So BetMGM came out and said, we're not really expecting to be hit that much from these results.
01:29And it's a pretty interesting reason why it's not why you would think because they're pushing
01:33more same game parlays because they're pushing player props better while they are pushing
01:37all of that stuff.
01:38They spent most of this last year and a half really doing a lot of investing and building
01:44new products, trying to make those parlay products that compete with those big dogs
01:48that have already kind of done their investments that are are really not trying to push those
01:52on people.
01:53So what that meant that MGM couldn't do was really go out and be aggressive.
01:58You don't see as many commercials.
01:59You don't see as many promotions.
02:00So they're kind of saying because we were investing and didn't push the product out
02:05so much, we weren't pushing out a product that was so customer friendly.
02:08We had, you know, less we lost less money on that end.
02:11So it's kind of an interesting financial way that they ended up benefiting from what was
02:16pretty much not a plan for them.
02:18They didn't they didn't want to make this another year of investing.
02:20They wanted to go out and compete with the other sports books.
02:23They've been third place for a long time.
02:24But, you know, in this crazy world of gambling and this crazy world of finance, this is how
02:29the stuff works sometimes where maybe a mistake ends up kind of benefiting you in the back
02:33end.
02:35So we'll see.
02:36You know, the football season is not over yet.
02:37I'm sure the books will be really hoping to figure it out, you know, come as we talk about
02:42the playoffs coming up and or the additional rounds and then the Super Bowl eventually.
02:46It's interesting to see different companies kind of maneuvering or navigating the space
02:50in a different way.
02:51And, you know, that energy, I'm not a company we talk about in terms of being at the top.
02:55So a good a good article for them right here.