[bigboydan]

BetonSports sounds alarm on NFL results

As predicted by eGaming Review on 16 December (“Bad run of results expose US sportsbooks”), US-facing sportsbook BetonSports issued a warning after suffering from a poor recent run of NFL football results.

In the company statement released on 28 December, David Carruthers, chief executive of BetonSports, explained: “The NFL sports-betting margins in the US have been adversely affected recently as a result of a large number of favourites winning”.

The statement continues: “However, the company expects these margins will follow the trend of earlier years and return to normal levels during the balance of the financial year, in which case the results will be in line with expectations. However, if margins do not follow the trend of previous years then the outcome will be below those expectations”.

The warning is in line with the recent trend of winning favourites in the NFL regular season reducing the margins for bookmakers. Similarly tough results for the bookies in November 2004 prompted commentators to talk of a new template for US-facing sportsbooks, as they are required to adjust their models to take into account of what was previously considered a “once in a decade event”.

In the same statement, BetonSports has confirmed the acquisition of online sportsbooks and casinos MVPSportsbook, Player Super Book and V-Wager, for a maximum consideration of US$37m. The businesses will be integrated into the existing infrastructure in Costa Rica and Antigua.

Carruthers said: “The acquisition extends our cross selling opportunities and further strengthens our management team with US facing sports betting expertise. This transaction demonstrates the company’s commitment to consolidation within the industry and shows our continued confidence in growth opportunities if the US market.”

It also said Craig Lapsley had stepped down from the BetonSports board, but will continue in his role as company secretary and Richard Creed will step in as interim finance director until a full time replacement is found.

[pags11]

translation: slow pays and no pays...

[SBR_John]

Here's another hot news flash! : The world is round.

Seriously everyone has been talking about the poor NFL season since mid October. They happen and some bookmakers go broke. The year following these rare negative years have been record positive years so it all equals out over the long term.

[Chuck Sims]

The recent takeunder of those other low tier books does not help BetonSports bottom line. Its too bad so few people know about these forums. If ESB can still be in busines after years of no pays, BOS has nothing to worry about.

[bigboydan]

this has been the worst NFL season i've seen in like 7 years from a book standpoint.
i started noticed signs in week 2 and 3, where it might have been a rough year for books, and from the looks of it i was right.

[Santo]

I don't think its's neccesarily a precursor of anything, it looks to me more like a stock exchange statement that they're required to make. It's like a shop chain saying profits will come in below target because of a slow christmas season.

[LGBoots]

I don't think its's neccesarily a precursor of anything, it looks to me more like a stock exchange statement that they're required to make. It's like a shop chain saying profits will come in below target because of a slow christmas season.

That's correct. Paddy Power issued a similar profit warning a few weeks back when they were 'hit' by a few weeks of an abnormal number of Favourites winning at UK Horse racing tracks.

Nothing to worry about at BOS (IMO)

[pags11]

I'm not so sure here...new management doesn't mean new pocketbook...I'd be a little concerned if I was playing with them...

[Chuck Sims]

this has been the worst NFL season i've seen in like 7 years from a book standpoint.
i started noticed signs in week 2 and 3, where it might have been a rough year for books, and from the looks of it i was right.

Las Vegas sportsbooks report a $55,000,000 profit for football only in the first two months of the season. Some people have said November was a bad month for the books.

[Illusion]

this has been the worst NFL season i've seen in like 7 years from a book standpoint.
i started noticed signs in week 2 and 3, where it might have been a rough year for books, and from the looks of it i was right.

A few of my friends who are completely clueless about how the game works have made more money than me this year in foots. It has been a very bad year.