Were you lucky enough to get your bets in? Many weren’t as mobile sportsbooks struggled to handle the volume of Big Game activity.
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Matthew Emmons-USA TODAY Sports
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The Tampa Bay Buccaneers won big on Sunday, but gamblers hoping to back them — and cash out — faced widespread frustration.
Users of multiple popular sports betting apps were unable to place wagers as kickoff for Super Bowl 55 approached Sunday.
While FanDuel had outages in Michigan and Illinois, DraftKings, Penn National Gaming’s Barstool Sportsbook and BetRivers suffered widespread issues that continued well into the Big Game.
“It appears this outage was caused by a surge in traffic that caused problems for our backend provider,” a DraftKings spokesperson told Front Office Sports.
A person with knowledge of the situation told Front Office Sports that international betting technology firm Kambi had technical difficulties Sunday. Kambi counts DraftKings, Penn National and BetRivers as clients, according to its website.
Casual bettors should’ve taken a page out of Mattress Mack’s book and placed wagers ahead of Sunday. The notorious Houston gambler placed the biggest bet on the game — $3.46 million on Tampa +3.5 — when he landed in Colorado on Wednesday, where betting is legal.
Here are the other five biggest bets on Super Bowl 55, all million-plus-dollar tickets:
- $2.5M on Chiefs ML (-165) at BetMGM
- $2.3M on Bucs + 3.5 (-115) at BetMGM
- $1.16M on Chiefs ML (-155) at William Hill
- $1M on Bucs ML (+135) at BetMGM
- $1M teaser on Bucs +9 and Over 50
By kickoff, 59% of all betting tickets sided with Kansas City -3, and 60% backed the Chiefs moneyline.
Betting is legal in 21 U.S. jurisdictions (including Washington, D.C.), seven more than at the time of last year’s Super Bowl. An American Gaming Association survey estimated a record 7.6 million bets would be placed on the Super Bowl at online sportsbooks, 63% more than 2020.
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Last April, Disney told investors that it expected Disney+ to have 60 to 90 million subscribers by 2024.
As of December, the streaming service had already amassed 87 million subscribers. Much of that growth is thanks to cricket.
When Disney acquired 21st Century Fox for $71 billion in 2019, it absorbed Fox-owned TV network Star India. In 2015, Star India paid $2.55 billion for digital broadcast rights to the Indian Premier League from 2018 to 2022.
Star India’s video-on-demand app Hotstar also fell under Disney’s control after the Fox acquisition. In April 2020, the service was rebranded as Disney+ Hotstar.
- It was the only service in India streaming matches of last year’s IPL season.
- Disney+ added 8 million Hotstar subscribers at the time of the rebrand, and had another 10 million Disney+ Hotstar sign-ups in the following six months.
- By the end of 2020, Disney+ Hotstar subscribers reached 26 million — 30% of Disney+ customers worldwide.
“If you were going to name a [league] that Disney will be extremely keen to keep, I’d say it’s the IPL,” Vivek Couto, director of consultancy Media Partners Asia, told Fortune.
Where Disney is finding success, other companies are close behind.
- In November, Amazon won rights to broadcast New Zealand Cricket in India through the 2025-26 season.
- After an unsuccessful attempt to purchase IPL rights for $600 million in 2017, Facebook bought digital content rights for the International Cricket Council in 2019.
Disney now projects its streaming service will have 260 million subscribers by 2024, with Disney+ Hotstar viewers accounting for 40% of that number.
“India is a cricket-crazy country, and it’s always been part of our strategy,” Disney+ Hotstar President Sunil Rayan said.
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Handout Photo-USA TODAY Sports
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Say what you want about influencers-turned-boxers, one of the greatest fighters ever is a fan.
“Jake Paul and his brother, they are God-gifted YouTube boxers. Boxing should give them a belt, because these guys brought boxing back to life,” said Mike Tyson.
In November, Paul knocked out former NBA player Nate Robinson in the undercard for Tyson and Roy Jones Jr.’s comeback bout. The event sold over 1.6 million pay-per-views and generated more than $80 million in revenue.
Less than a week later, Triller and Snoop Dogg, whose commentary on the Jake Paul and Tyson fights was well received, launched a boxing league called “The Fight Club.”
Several others are capitalizing on the trend:
- Jose Canseco made $1 million for his bout with a Barstool Sports intern on Friday night. The disgraced ex-MLB star fell to canvas 12 seconds into the $20 PPV match, but received a share of the revenue.
- In April, Jake Paul will fight retired UFC star Ben Askren.
- In June, Celebrity Boxing will host a fight between retired NBA champion Lamar Odom and singer Aaron Carter.
- Logan Paul, Jake’s older brother, is set to fight Floyd Mayweather in an upcoming exhibition match.
Mayweather is also interested in fighting his friend-turned-nemesis 50 Cent, and said he’ll take on Jake if he beats Askren.
One can’t deny the allure of legends like Tyson and Mayweather, nor the vast social followings of the Paul brothers, but there’s been a surprising embrace of boxing events involving YouTubers and retired athletes that would have been inconceivable just a few years ago.
“My ego said so many things, but my reality is: they help boxing so much,” Tyson said. “They owe these YouTube boxers some kind of respect.”
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Jerome Miron-USA TODAY Sports
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Private equity’s foothold in the world of sports is strengthening as teams and leagues look for new sources of cash amid the pandemic.
The NBA now permits investment firms to purchase limited stakes in teams, opening up the pool of potential owners as team valuations skyrocket.
Among opportunities on the table: a 5% stake in the Golden State Warriors for $200 million, which would give the team a $5 billion valuation. Also, CVC Capital Partners is seeking a 15% percent stake in the San Antonio Spurs at a $1.3 billion valuation.
“Part of it is financial,” NBA commissioner Adam Silver said, “but part of it is the amenities, and the cachet, and the desire to be directly involved with these leagues.” The NBA developments come as other sports, particularly soccer, experience an uptick in private investment.
- Italian soccer league Serie A created a new company to handle its media rights and sold 10% to CVC and Advent International, along with Italy’s FSI Fund, for over $2 billion.
- Bundesliga, Germany’s top league, recently offered a minority stake in its new digital media company for $362.7 million, attracting multiple private equity firms.
- In December, U.S. investment group ALK Capital purchased an 84% stake in English Premier League team Burnley in a deal believed to have cost ALK up to $270 million.
- Iowa-based Krause Group acquired 90% of Italy’s Parma Calcio 1913 in a deal reportedly valuing the team at more than $100 million.
Beyond the NBA and Serie A, CVC recently inked a reported $300 million investment deal with International Volleyball Federation and paid $415 million for a 14.3% stake in Europe’s biggest national rugby tournament, the Six Nations.
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- Tom Brady won his seventh ring and fifth Super Bowl MVP, reigniting debates about who deserves the title of “greatest athlete of all time.” Brady said he plans to return next season.
- Naomi Osaka and Serena Williams highlight the Americans who advanced to the second round of the 2021 Australian Open. Osaka won the tournament two years ago, and Williams is attempting to tie Margaret Court’s single’s record with her 24th title.
- In a five-second Super Bowl ad, Reddit showed support for the r/wallstreetbets subreddit, which fueled the January “meme stocks” saga. Broker Robinhood, which drew criticism for its handling of the situation, also aired an ad.
- The NWHL season was suspended last Wednesday, the day before playoffs were set to begin. The 2021 Isobel Cup was set to include the first nationally televised professional women’s hockey games. Read more about this and other sports stories by subscribing to The GIST – a free newsletter that is led and written by women three times a week.
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Did you watch the Super Bowl?
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Friday’s Answer
Last Friday, subscribers shared their favorite Super Bowl commercials of all time.
We’ll share the top responses this Friday in a post on frontofficesports-com.go-vip.net.
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