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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK ANALYSIS: Elizabeth Warren’s big ideas on Big TechThe debate about how to regulate the tech sector is eerily reminiscent of the debate over financial regulation in the early 2000s. Fortunately, one US politician has mustered the courage to call for a total rethink of America’s exceptionally permissive merger and acquisition policy over the past four decades.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Big pick-up in the carry tradeHallelujah! The carry trade is back. Huge excitement. Small problem — nobody really knows where it is or how big it is. What we do know is that it’s definitely a good thing, and we should be very happy. Possibly.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Rico: Cartoon FridaySo no hope for assisting the SA Electricity Grid then?
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: One month before 2019 election, SA economy takes three hits in quick successionThey say that the hits that don’t break your back make you stronger. In fact, it’s more likely that the hits that don’t break your back will, in fact, make you weaker. The news is not entirely as gloomy as it seems, but coming just before the election, one thing is for sure: the incumbent government will not be propelled into the election on a wave of a strong economy. Not only hits, those are big hits, as well tim_cohen. I can't help wondering what S&P are smoking to get all that Ramaphoria....🙄 We're we really expecting a different outcome? Government is in tatters, Cyril house is still not finished, everyones rioting, burning books, throwing chairs, it's a baby written soap opera, Days in S. A.........
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Ramaphoria has taken hold of the otherwise serially depressive S&P Global RatingsIn more than a year South Africa has gone from Ramaphoria, the burst of optimism about South Africa that was unleashed after the election of President Cyril Ramaphosa, to a sobering reality of political and economic crises. However, credit rating agency S&P Global Ratings is on a Ramaphoria high, expecting South Africa’s economy to grow by 1.6% in 2019. Meanwhile, economists expect growth of less than 1%.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Zimbabwe, Russia Sign $4 Billion Platinum Mine DealZimbabwe has signed an agreement with Russia to build a new platinum mine in the southern African country, finalizing a deal that’s stalled since 2014.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Newmont Bondholder Revolt May Put Barrick on Hook for DebtBarrick Gold Corp. could find itself partially liable for $600 million in additional debt if some Newmont Mining Corp. bondholders have their way.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Friday, April 11: Five Things You Need to Know to Start Your DayBrexit gets a deadline extension, Australia’s election date is announced and the Fed shows some rate flexibility. Here are some of the things people in markets are talking about.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Africa’s Amazon Set for New York IPO as Online Retail Takes OffJumia, Africa's largest online retailer, continues to build its profile in the run-up to its New York Stock Exchange listing. The company has now release its customer numbers for 2018, which jumped 48% to just over four million. Its planning to sell 13.5 million American Depository Shares at $13 to $16, raising as much as $216 million.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: The balance in SA’s bloody strike at Sibanye-Stillwater’s mines tips slightlyThe strike at Sibanye-Stillwater’s three critical gold mines is a classic power battle between NUM and Amcu, overlaid on top of another classic power battle between Amcu and the company whose CEO Neal Froneman is one of the shrewder operators that Amcu boss Joseph Mathunjwa has had to deal with for some time. The balance has tipped slightly in the company’s favour, but the outcome is still far from certain.
Source: dailymaverick - 🏆 3. / 84 Read more »