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#pounditSaturday, July 13, 2024

1 wild NFL parlay cost FanDuel $20 million in Week 2

A look inside a Las Vegas Sportsbook

A look inside the sportsbook at the Wynn in Las Vegas on September 23, 2017. Photo Credit: Larry Brown Sports

Not all bets are created equal. Some have long-shot odds that will never pay out. And some will cost a sports betting giant like FanDuel a cool $20 million.

FanDuel promoted a +20000 field goal parlay last weekend. For the 200-to-1 parlay to pay out, all 24 teams playing on Sunday afternoon of Week 2 had to convert on at least one field goal. Perhaps as a collective yet unintentional thank you to their fan bases, every single team that was part of the wager kicked one through the uprights.

FanDuel posted on X that they had to pay out over $20 million to those who capitalized on the long-shot ticket paying off.

In the least surprising move following the payouts, FanDuel has since lowered the odds to less than half of its previous value as of Friday night.

NFL teams usually convert at least one field goal during a game. Over the past 10 seasons, they’ve done so nearly 82% of the time. While that’s a high probability for one team to score a field goal or even two in the same game, 24 teams is a different story. ESPN Stats and Information listed the likelihood at a minuscule 0.84%.

FanDuel’s betting odds offered a payout better than the actual probability, but it was still a complete long shot to hit.

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