FanDuel Group, which ran a refund promotion tied to its fantasy product, said it lost $2 million when Woods secured his first major victory in more than a decade. The Westgate Las Vegas SuperBook lost nearly $100,000, its worst result ever for the Masters, and William Hill U.S. lost “seven figures.”
Sunday’s losses, though bad for many, likely won’t come close to offsetting the profits amassed during Woods’s down years. Despite a decade of struggles both on and off the course, Woods remained a favorite among the golf-betting public. It was common for Woods to be the most popular golfer at a tournament, regardless of how long the odds.
At FanDuel’s sports book, 21 percent of the futures bets placed on the Masters were on Woods to win it all, a slanted total that resulted in a net loss of more than $1 million. The company also ran a promotion for its biggest Masters fantasy contest, where it promised to refund all entries if Woods won the tournament. That resulted in another $1 million paid back to FanDuel customers.William Hill found itself in a similar spot.
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