Super Bowl LVI between the Los Angeles Rams and the Cincinnati Bengals is right around the corner, and the money has started rolling in as sports bettors place bets on the big game.
FanDuel CEO Amy Howe told FOX Business on Friday that the company expects about 7 million Super Bowl bets to be placed on its platform.
“This Super Bowl is going to be the biggest sports betting event in history,” Howe said. “If you look at our platform, we’re projecting somewhere around 7 million bets – 50% of those likely to come from player props. It’s not just about who wins or loses, it’s for every taste.
“As the number one sportsbook in America, we have over 550 different betting markets for the Super Bowl alone. You can (bet) on the final score, who’s going to score the first touchdown and parlays on the day, which have been extremely popular with us and have become an integral part of the enjoyment and enhancement of this sporting experience.
One of FanDuel’s biggest prop bets is on the final score. Punters placing bets on the Bengals beating the Rams 34-31 arrived in full force and apparently inspired by a photoshopped social media meme depicting an episode of “The Simpsons”.
“We’ll see how it plays out,” Howe said. “But it’s amazing how these things take root.”
The Super Bowl is back in Los Angeles for the first time in nearly three decades. Howe told FOX Business it was “exciting” to see the city transform as the big game came to town.
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“The buzz and energy in Los Angeles this week has been phenomenal,” Howe said. “Think about it. Last year obviously we weren’t back to normal on events and parties, and just the energy that the Super Bowl brings with it is back even though we still have to be careful with COVID. I think everyone is so happy to be in this beautiful stadium. SoFi is absolutely beautiful, and LA brought the weather for this week.”
Howe was named CEO of FanDuel in October after initially joining the Flutter Entertainment property as president last February and eventually serving as interim general manager.
“It’s been a phenomenal run. I came from Live Nation Entertainment and helped deal with the pandemic,” Howe said. “So to be able to step into an industry that just has huge momentum, the #1 American sports betting leader and in a leadership position is a pretty fantastic position.
“We still have a lot of regulatory momentum. We currently have 14 states where online sports betting is legal. That’s up from 10 at the time of last year’s Super Bowl, and there’s still a lot will open next year. Just to be able to meet that demand as quickly as possible.”
Increase women’s participation in sports betting
howe said Fortune Magazine in December, she wanted to see more women participating in sports betting.
She shared with FOX Business how FanDuel is stepping up to bring female sports fans into the ever-evolving sports experience.
“If you look at the data, 50% of sports fans are women. If you look at the betting population, it’s closer to 10-20%, so you know there’s an underserved segment there- historically it was primarily a young male audience and target audience of 21-52 year olds,” Howe said.
“There are several things we do. One is to make sure that we start by supporting the female athlete. We were the first to partner with the WNBA. We have a very good relationship with the Women’s Tennis Association , and we were the first to take bets on Women’s March Madness, so it’s important to start with this female athlete and support her on that front.
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“Then as we look at targeting the female consumer, you look at the data, a key idea is that women can be intimidated by sports betting. When you think about targeting that audience – how do you achieve that, how do you educate, and how do you present the content in a more consumable way?” Howe added.
“We’ve done things like partnering with The Gist, and we’ve run a fantasy sports competition for women only and we’ve also just found the right channels. We’re now working with our media partners to really understand instead of just buying for men aged 21 to 54, how to reach this female audience in a very credible and authentic way.”