• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Uncertain Futures: Sportsbooks And Bettors Playing Wait And See With Wagers

Hold on to your futures tickets while the leagues do their part to limit the spread of coronavirus

Eric Raskin by Eric Raskin
March 13, 2020
in Sports
Share on FacebookShare on Twitter

The sports leagues have stopped. In an effort to limit the spread of the COVID-19 coronavirus and protect players, administrators, and fans, every major American sports league — and many overseas leagues as well — decided this week to halt play indefinitely.

The first major domino to fall was the NBA on Wednesday night, following Utah Jazz center Rudy Gobert testing positive for the virus. Before long, the NHL, NCAA, MLB, and MLS all followed.

The NBA has suspended play for 30 days and will reevaluate at that time. It’s possible that the season will resume and some or all games will be made up. It’s possible that the season will start back up again in May or June and the league will go straight into the playoffs using the current standings. It’s also possible that there will be no continuation or conclusion to this season and that it will end, like the 1994 MLB season, without a champion crowned.

There will obviously be very little for sports betting enthusiasts to wager on in the weeks ahead. But what about the bets they’ve already made?

A futures ticket always means a lengthy sweat, but under these unprecedented circumstances, the sweat is being extended, as there’s not much sportsbooks can do but wait for the leagues to take next steps.

Books assure their bettors

Wednesday evening, DraftKings Sportsbook, FanDuel Sportsbook, Caesars, and others stopped taking NBA futures bets. That measure prevented additional aggravation for bettors. But there’s still the matter of what becomes of existing futures bets.

Online sportsbook Unibet sent an email to its customers Thursday explaining, as best it could, the situation and approach moving forward:

  • Any future bets that were placed on the outcome of a league will stand.
  • Examples of future bets include, but are not limited to, the MVP race, Rookie of the Year, 2020 Champions, etc.
  • Future bets will be settled when there is an official result from the league. In the event of a season or event cancellation, affected bets will be voided.

DraftKings also sent its customers an email, with a statement from President Matt Kalish:

“We understand that where you have outstanding sportsbook wagers, there may be questions on how these markets will be settled,” Kalish wrote. “We are working diligently through all potentially impacted markets to provide clear answers. In addition to consulting the upcoming status page, you can continue to reach out to our customer experience team with any questions in the meantime.”

A FanDuel Sportsbook customer tweeted a question about refunds for NBA season win totals, and the company’s customer support account replied, “We will be awaiting confirmation from the NBA as to how the season will proceed before those markets can be determined.”

Refunds, resolutions, and possible freerolls

Whether a futures bet will be resolved or refunded depends greatly on the league and the type of bet.

NCAA futures bets either have been or soon will be refunded. Conference basketball tournaments were aborted midway through and will not be concluded. The March Madness championship tournament is off and will not be rescheduled.

For the NBA, NHL, and other leagues that could conceivably resume at a later date, everything must wait.

Bets on championships, or conference championships, are fairly straightforward to consider: Either the leagues will eventually crown champions or they won’t, and in the case of the latter, wagers will be refunded.

Bets on regular-season division titles will be a bit more complicated if no more games are played. Logic suggests that bets will ultimately be graded based on current standings, but sportsbooks might choose to void them and issue refunds.

Individual awards, one assumes, will proceed even if there isn’t another game played this year. It might be a while, but MVPs, Rookies of the Year, and so forth will probably be named. If there are no more regular season games in the NBA, chances are the late pushes of LeBron James for MVP and Zion Williamson for ROY will come up short and bets on the current respective favorites — Giannis Antetokounmpo and Ja Morant — will be winners.

Season-long win total bets are perhaps the most complicated. A handful of teams already clinched their over or under, and those wagers were graded once the outcome was locked in.

But if the leagues don’t play their complete regular-season schedules, all other over/under bets should, according to the rules, be voided.

That said, it wouldn’t be a surprise to see some sportsbooks settle such a bet that was en route to a likely win — for example, an over bet on the Milwaukee Bucks, who presently stand at 53-12 and on pace for 67 wins after preseason lines between 55.5 and 57.5 — as a win as a goodwill gesture to the customer.

Sportsbooks are all going to take a massive hit to profits in the weeks ahead. Those with deep enough pockets will likely be willing to increase that hit to satisfy customers and keep them coming back when the sports world is able to return to normalcy.

Photo by Alonzo Adams / USA Today Sports

ShareTweetShare
Eric Raskin

Eric Raskin

Eric is a veteran writer, editor, and podcaster in the sports and gaming industries. He was the editor-in-chief of the poker magazine All In for nearly a decade, is the author of the book The Moneymaker Effect, and has contributed to such outlets as ESPN.com, Grantland.com, and Playboy. Contact Eric at eraskin@usbets.com.

Related Posts

Photo by Bob Levey/Getty Images
Promotions

FanDuel Promo Code: $3,000 No Sweat First Bet for No. 3 Houston at Temple

February 5, 2023
Credit to Tim Nwachukwu/Getty Images
Promotions

BetMGM Bonus Code: HANDLETOP for $1K First Bet Offer for 76ers at Knicks

February 5, 2023
Load More

Top Stories

fanduel-retail-sportsbook-front

Requiem For The So-Called ‘Risk-Free Bet’

February 2, 2023
garnett mgm springfield

Sports Betting Launches In Massachusetts, Giving Three Retail Books A Head Start

January 31, 2023
fanatics-grand-opening

Fanatics Sportsbook At FedEx Field Offers Unique Retail Option In Maryland

January 23, 2023
Shutterstock

Missouri Legislators Lament Exodus Of Bettors To Neighboring States

January 27, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
February 2, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
February 3, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
October 20, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location