00:00Let's get to the results of college and pro football in the month of September, but I want to throw a little caveat out here, Sam, because we're going to talk about the fact that September looked a lot like last season in the NFL and a little bit like college football.
00:16But Sam, as you know, if you've been following, I'm sure you have in the month of October, sportsbooks are going to do very, very well this month.
00:24The results have been completely upside down in the National Football League.
00:29And by the way, especially in these primetime games, a lot of the underdogs winning outright.
00:36Yeah, you're spot on, Craig. October is off to a much, much better start than September was for the sportsbooks.
00:41I think you had three underdogs of a touchdown or more, one outright last week, which was like the first time that's happened in the past decade, something like that.
00:51So it's obviously always good for the sportsbooks when underdogs win, because what that does is it knocks out a lot of the money they have tied up on these, you know, favorite money line parlays where most casual bettors are just, you know, picking the big favorites to win and trying to tease them down to get a better price.
01:08So that helps there. But that comes after it was, you know, a really bad start to the football season for them.
01:13I think teams favored by a touchdown or more were 16-2-1 straight up through September.
01:22So getting to what you're talking about, a bad start to the month for them, which continued a streak of last year when those teams actually have won 90% of their games since week 13 last year.
01:32And obviously we know just how bad last NFL season was for the sportsbooks. It was really unprecedented.
01:38They've told investors, no, this is kind of a crazy thing that just happened.
01:43Things happen sometimes. And this was the first time this has ever happened to us.
01:46But the fact that it was continuing to start in September was definitely not a narrative the sportsbooks wanted to keep going.
01:52It's going to actually impact the companies, though, because they have their third quarter earnings coming up next.
01:57You've got one Wall Street analyst estimating that the bad results in September cost Caesars about $39 million more than they normally would on sports,
02:08cutting their profits in half for the third quarter.
02:12So they're still feeling it, but eventually, you know, they're sportsbooks.
02:16They're the house for the reason. They're going to stay in the game.
02:19They're going to hope their luck turns around, which obviously so far it seems like it is in October.
02:23You know, you had the Giants, you know, win outright last night against the Eagles as big underdogs as well.
02:30So you are starting to see that trend normalize a bit, but you never know in the NFL.
02:34It's week to week. Anything could change.
02:36But yeah, so far the sportsbooks enjoying a much better start to October than September,
02:41which was kind of just a continuance of a terrible last season.
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