00:00I'm going to guess that the books are having a better season than they had last year, but still overall another shockingly losing season for them.
00:11At least from what I see in the results, that's my assessment.
00:13I still think it's not going well for them because, again, the favorites are winning, but I think we have seen a little bit more deviation.
00:21Last year was just across the board, like out of 18 weeks, 17 weeks, you had favorites winning 15 of the 17.
00:27Yeah, well, you're spot on with that assessment, Craig.
00:31When you talk about how how historically bad last year was, you cannot, you know, over explain how bad it was.
00:38You cannot overstate how bad last year was. In turn, this year has been better, but it's still not great.
00:43You had favorites of a touchdown or more. They went 16, two and one straight up in the month of September, which was their best start in nearly 50 years.
00:53And obviously we know the public likes to back favorites, especially when you have these money line parlays where you're able to put a bunch of different favorites for a lower price and a return for a bigger bet.
01:03And that's really been hurting sports books, at least Caesars, which came out this week and said that their sports betting profits from online were down about 50 percent from a year ago in the third quarter.
01:15That's because, you know, September is that one month of NFL. It's fit in. You had favorites win at that historic rate.
01:21Yet again, you had 60 percent of primetime games going over. We know the public obviously loves to bet on overs.
01:28And you had some really high profile games like the Monday night football game between the Bills and the Ravens that went into overtime.
01:34That was the worst single game result in DraftKings history. They came out and said that last month.
01:40So it's no surprise that the results so far financially are hurting a little bit.
01:46But analysts and the stock market so far is bullish on it returning to normal.
01:52Eventually, we've seen it kind of move back more towards where it should be.
01:55They want to see that momentum going. In the meantime, betting handle is up.
01:59So people are betting more. The market is getting bigger.
02:02The sports books are now saying it's just a matter of time before we come out on the right side of the bets.
02:06And again, that's why they're the sports books. That's why they're the house.
02:09They can weather this kind of thing. In theory, we'll see how it goes in October.
02:13Obviously, when we get those results and then eventually November, we'll be hoping for a turnaround.
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