FanDuel ends up paying off Alabama and Clemson bettors
Monday was a rough night for FanDuel.
The online sports book ended up paying out extra after Clemson trounced Alabama in the national championship game.
FanDuel paid Alabama bettors in November
In November, FanDuel announced that it was declaring Alabama the national champion and paying off futures bets made on the heavily favored Crimson Tide. Alabama was listed as a -280 favorite at the time, meaning gamblers would have to risk $280 to win $100 on a bet on the Crimson Tide.
“It’s a way to reward our customers for betting on Alabama when the odds were really hard to make any money doing it,” spokesman Kevin Hennessy said at the time.
Now FanDuel owes Clemson bettors
Now Clemson is the national champion. And FanDuel has no choice but to pay off Clemson bettors, meaning the sports book paid off bettors of both teams.
What’s the strategy here?
It’s not the soundest business strategy for the house. But maybe it all came out of the marketing budget. It is a fantastic way to build goodwill.
Given the choice, most bettors are going run with the book that pays off winners and the occasional loser as well. Though we’re not holding our breath on FanDuel paying losers moving forward.
Payouts not provided
FanDuel acknowledged Clemson’s championship in a statement Monday night, jumping on the chance to promote the book’s “bold moves.”
“We made history in November when we paid out customers early on Alabama winning the national championship. Even though Alabama didn’t win, we have no regrets and are excited to make similar bold moves to prove there are more ways to win on the FanDuel Sportsbook. Congratulations to Clemson and to our customers who got paid out early … you’re the real winners today.”
FanDuel declined to provide the numbers related to the payouts.
More CFP title game coverage from Yahoo Sports:
• Clemson trounces Alabama to win national championship
• Thamel: Trevor Lawrence’s ascendance complete with title showcase
• Imagine Dragons gets roasted after halftime show
• Biggest plays in Clemson’s national championship win over Alabama
