“Microbetting” on the action during football games like the Super Bowl is surging, along with stringing together multiple bets in tandem. Are the payoffs worth the gamble?
Sunday’s Super Bowl is likely to generate more legal bets than any sports contest in American history. “You can guarantee it,” said Jason Scott, who oversees oddsmaking at BetMGM. Sportsbooks are bullish about the big game, in part because some of the trendiest ways to wager stack the odds against customers even more than usual.The Kansas City Chiefs and Philadelphia Eagles are playing in Glendale, Ariz., making this the first Super Bowl in a state with regulated sports betting.
The house edge that bookmakers bake into the odds, the “vigorish,” is slightly higher for in-game bets than for those placed pregame. The difference might seem trivial, but by betting incessantly throughout a game, the vigorish “is going to eat your bankroll away,” said Matt Buchalter, an actuary in the Toronto area who teaches courses on sports betting through a program called Analytics.Bet. The rush of live betting “is like playing a slot machine,” he said.
In some states, bettors can wager on hundreds of possible outcomes, including the color of the Gatorade dumped on the victorious head coach, like Los Angeles Rams coach Sean McVay endured in last year’s Super Bowl. .Sportsbooks have an added advantage because in-game odds are updated using a data feed that is only about a second behind the on-field action.
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