August 13, 2020

Covers Predicts That Sports Betting Won’t Go Bust If College Football Is Canceled

LAS VEGAS, Aug. 13, 2020 /PRNewswire/ — As COVID-19 continues to reshape upcoming seasons for professional and collegiate sports, Covers asks…

LAS VEGAS, Aug. 13, 2020 /PRNewswire/ — As COVID-19 continues to reshape upcoming seasons for professional and collegiate sports, Covers asks the burning question, what will the impact be on sports betting if the 2020 college football season is canceled?

Covers’ Senior Writer Patrick Everson spoke with Executive Vice President of Race and Sports at the Superbook at Westgate, Jay Kornegay, the American Gaming Association’s Casey Clark, and gambling industry strategist Chris Grove, about the potential effects of a canceled or delayed college football season on sportsbooks across the country.

“I’m not sure any of us really knows how that will impact us,” Kornegay said, speaking to the sportsbook industry as a whole. “If it’s completely canceled, it’s certainly going to be a punch to the gut. However, it’s not as bad as some might think, as long as we still have the NFL. Last year, 65 percent of our total football handle was NFL.”

Some NCAA football betting statistics include:

  • Although sportsbooks don’t separate NFL versus NCAA football in terms of total handle (bets placed) on football, estimates are approximately 35% of total handle in Nevada came from NCAAF football in 2019.
  • Based on total handle on football in Nevada sportsbooks in 2019, approximately $650 million was bet on NCAAF football.
  • New Jersey took in $939 million in football handle in 2019 and given that same 35% estimate for college football action, over $328 million was bet on NCAA football in 2019 in New Jersey.
  • The best NCAAF football bets in 2019 were Kentucky and Navy, both went 10-3 Against the Spread.

Could the college football season be postponed to the spring? Many in the media and the sports betting space are speculating that a spring college football season would provide a huge boost on the wagering front. Among the main reasons for such speculation is that NCAA football wouldn’t be competing with the NFL every week.

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About Covers Media Group:

Covers Media Group is an online publisher, providing sports gaming enthusiasts with valuable news, editorial and analysis as well as accurate and up-to-date scores, odds, matchups and statistics information. The Covers.com property was originally launched in 1995 and continues to be recognized as an industry leader, reaching several million passionate and engaged worldwide users every month. Find Covers on Facebook, Twitter, Instagram and YouTube.

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Media Contact:

Patrick Everson

Senior Writer

Covers Media Group

+1-702-858-2117

peverson@covers.com 

Twitter: @Covers_Vegas

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