The college football season is gradually fading. This week saw the Big Ten, Pac 12, and UNLV’s Mountain West conferences defer their respective football seasons.
Postponing the seasons until spring could disappoint sports fans, bettors, and sportsbooks. Nevertheless, all three will manage to cope with the shifting of the season.
Another story for all involved would be the cancellation of the 2020-2021 college season.
Should these and other college football conferences decide to entirely cancel their football seasons, it could deeply disappoint fans and bettors. Concurrently, the cancellation of the college football season could cause significant harm to Nevada’s struggling sportsbooks.
No college football could be big loss for Nevada sportsbooks
Nevada sportsbooks generate the most revenue from football, according to UNLV Gaming Research. Since 1984, and possibly even before, football has consistently been the sport with the highest annual wagered amount in Nevada, surpassing all other sports for over 35 years.
In 2019, professional and college football saw over $1.8 billion in bets. It is generally believed that about 40% of this total amount was bet on college football.
Sportsbooks in Nevada won 6.55% of the football bets made last year, resulting in a total win of over $120 million from football wagers. From college football wagers alone, these sportsbooks won an estimated $48.9 million.
Sportsbooks in Nevada claimed a higher percentage of wins from football bets compared to basketball or baseball. Although parlays are not categorized by sport, football constitutes a significant proportion of such bets.
Bettors can construct a parlay with most sports, however, football is the most favored, offering several parlay card options every week throughout the seasons.
In the previous year, sportsbooks in Nevada gained 29.84% of the parlay bets exceeding $50 million. The total earnings from parlays placed last year for sportsbooks were slightly above $14.9 million. However, if college football does not recommence play early in 2021, a significant portion of this money will likely be lost.
Earlier this week, John Murray, the Director of Westgate Sportsbook, explained the difference:
The crucial query here is whether the event is being postponed or canceled. If it’s merely postponed to spring, I don’t believe the impact on us would be significant. As long as we have college football in the spring, we should theoretically regain our standing then. This wouldn’t be catastrophic.
However, if it’s completely cancelled like March Madness, it would be extremely detrimental. Losing the NCAA Tournament and never recovering it was truly a hit to us.”
This is logical. Currently, we can observe the shift in the timing of bets placed on games. This August could potentially be the busiest period ever for Nevada sportsbooks and sports betting apps.
Unique August gambling opportunities
Nevada sportsbooks often experience the peak of the summer dog days in August. This month is commonly in the midst of the baseball season, offering limited other betting options.
Typically, sportsbooks host a handful of individuals enjoying the air conditioning while watching daytime baseball and soccer games. The atmosphere often becomes more lively after 4 p.m. when additional MLB games commence.
The sportsbook is usually a haven of relaxation in the summer due to the absence of many games, resulting in fewer people occupying the seats in the renowned sportsbooks of the Silver State. However, this year seems to deviate from the norm due to the relentless spread of the coronavirus.
After halting in March, both the NBA and NHL have restarted their respective seasons. Live games from both leagues are now being played, beginning in the morning and continuing all day.
MLB is adhering to its usual schedule, with a handful of day games interspersed among the predominantly night games.
This August presents a haven for gamblers, with various live games taking place throughout the day and night. With the combination of pre-game and in-play betting, the opportunities for wagering are more plentiful than usual.
When the Nevada Gaming Control Board releases a revenue report for August, sportsbooks are expected to exhibit a very active month.
Bigger and better March Madness 2021?
The pace of sports betting will soon decrease as the NBA and NHL Playoffs draw to a close in the coming months. Despite several coronavirus outbreaks just a few weeks into the season, MLB will strive to finish its season.
Despite the possibility of professional and select college football teams playing, there will not be as many games as usual to entertain sports bettors this winter.
The upcoming spring could present another distinct and thrilling opportunity for sports betting. Here are a few potential scenarios for an unpredictable March Madness next year:
- If the pandemic slows down to a point where playing games is safe again, college football could decide to play this spring.
- If the NFL season is interrupted due to a coronavirus outbreak, it could potentially extend into the spring. While this is an unwelcome scenario, it remains a possibility.
- The 2020-2021 seasons for NBA and NHL are anticipated to kick off around Christmas or at the start of next year. The seasons are expected to extend into March and possibly later.
- The NCAA is planning to conduct the upcoming basketball season. Alternatively, colleges could participate in a mega-Madness tournament, potentially within a secure bubble environment, throughout March and April.
Predicting the events of the next seven days is an impossible task, not to mention the next seven months. The potential for another “Return to Sports” in the spring could be splendid news for sports enthusiasts, gamblers, and sportsbooks.
