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By its very definition, the impact of a pandemic is extremely pervasive.
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Naturally, the most critical area it touches is individual health. But there’s a virtually endless domino effect such a scenario has on countless aspects of everyday life. As we’ve seen over the last 24 hours, that certainly includes favorite pastimes. And the money some like to stake on them.
And while it’s rightfully considered trivial to those dealing with life/death circumstances, there are potentially deep financial ramifications in the sports betting world as a result of the increasing amount of cancellations/suspensions of regular-season and tournament play.
Futures bettors left in limbo
With the immediate future of no less than the NBA regular season in question due to the coronavirus outbreak – as well as that of multiple major college basketball tournaments, including March Madness, the pause on the NHL season and the reported imminent postponement of the start of MLB campaign – the many bettors holding futures tickets for these events certainly can’t help but wonder what happens to their open wagers.
TheLines.com reached out to several major sportsbooks Thursday regarding their plan of action for these contingencies. Unsurprisingly, on a day when the cavalcade of cancellations that began with the NBA’s Wednesday night announcement of its suspension of play is still in full force, sportsbooks are still evaluating how they’ll handle the situation.
Representatives from both FanDuel Sportsbook and PointsBet confirmed they were in wait-and-see mode and wouldn’t yet speculate on what they consider truly unprecedented territory.
DraftKings Sportsbook was also contacted for comment, which was pending at the time of this writing.
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No direct precedent for coronavirus-related disruption
The most recent and perhaps closest comparative situation – albeit on a considerably smaller scale –could be last year’s Alliance of American Football’s (AAF) truncated inaugural season.
The AAF famously and abruptly suspended operations after eight weeks last season when majority owner Tom Dundon pulled the plug. Both FanDuel and PointsBet paid out any AAF Championship futures bets that had been placed on the Orlando Apollos, since Steve Spurrier’s team had the league’s best record at the time. Tickets on all other teams were refunded.
Needless to say, AAF handle is dwarfed by that regularly seen on the games run by leagues and conferences that have paused/canceled events over the last 24 hours. Therefore, such a solution is fiscally impossible.
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Sportsbooks do have general guidelines for handling what could be considered a case of “force majeure”, defined, in part, as “natural and unavoidable catastrophes that interrupt the expected course of events and restrict participants from fulfilling obligations.”
Sportsbooks could take a number of different routes
Typically, in the cases of cancellations of individual sporting events – or even a block of games such as those of the canceled NCAA tournaments – tickets, be they single-game or futures, are typically refunded since the event never transpires. The potential wiping out of a season also impacts futures bets, however, and doesn’t necessarily offer as clear of a solution.
Take the case of over/under bets on regular-season win totals for paused leagues.
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Over wagers on teams that already are locked into falling short of the projected win total even if a league resumed a full schedule of play could potentially be graded as losers immediately. However, given that futures wagers are typically contingent on a full league schedule being played, sportsbooks may simply have to wait to see what transpires, as a matter of following their own terms and conditions.
And, even in the unlikely event the NBA and NHL actually complete their entire regular-season schedules in delayed fashion, operators could still opt to refund what would have been losing tickets in a nod to customer goodwill.
Naturally, the same contingency could be in play for over/under futures tickets that are technically still “alive”. While a truncated schedule would technically free sportsbooks from the obligation of paying out on an Under win total bet that hits in a shortened regular season, they may make the decision to deem such tickets winners.
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It’s also important to keep in mind that bettors may not necessarily see a uniform, across-the-board response from the increasing number of regulated sportsbooks. Each operator will undoubtedly utilize individual discretion on certain decisions, depending on how circumstances with each league/event plays out.
As the rapidly unfolding chain of events stemming from the COVID-19 outbreak show, measures and solutions at the local, state and federal levels are being arrived upon in spontaneous and continuously evolving fashion.
Sportsbooks are no different when dealing with the impact on their industry, but bettors should progressively gain additional clarity on their open tickets as sports leagues eventually announce their plans of action.
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Point Spread Basics
If there is a plus next to the team you selected - add those points to the final score for your team.
If there is a minus next to the team you selected - subtract those points from the final score for your team.
ASK for a QUICK PICK
Not sure what selections to play? Just ask your Retailer for a full or partial quick pick. Quick pick is available for all selections or for teams only. The Lottery will generate a ticket with random selections.
FOR ALL PARLAY CARD CHANGES/UPDATES, PLEASE VISIT A SPORTS RETAILER OR CASINO SPORTSBOOK.
Wagers
- Totals (Over/Under) Wager (Pro Only)
The Total is the combined amount of points scored by both teams during the game, including overtime.A player may wager Over or Under the total. In an Over wager, the player wagers that the total combined points scored by the two teams will be more than the total. In an Under wager, the player bets that the total points scored by the two teams will be less than the total. There will be no totals during the preseason. The Half-Point, Teaser and Super Teaser Parlay Cards will carry all totals. The $100,000 Parlay Card will have select totals on occasion. There is not a Totals-Only Card. - Early Bird Card (Pro Only)
To play Early Bird Cards, refer to the designated separate sheet for teams and point spreads. A new sheet is available each Monday and Tuesday. Download the most current sheet. - Half-Point Parlay Card
The Half-Point Parlay Card is the most popular type of card in Las Vegas and will offer payoffs ranging from 6.5 for 1 on a 3-selection parlay to 2,500 for 1 on a 12-selection parlay. All point spreads use half points, eliminating the possibility of a tie. - Teaser Card
On a Teaser Card, the point spreads differ from those on the Half-Point Card. The favored teams have to cover fewer points in order to be winning selections. The underdog teams receive more points. The payoffs on the Teaser Card are lower than they are on the Half-Point Card because of the advantage the player gets on the point spread. On a Teaser Card, players may parlay from 3 to 20 selections (since the point spreads have been adjusted, wagering is available on both sides of a game) and receive payoffs ranging from 12 for 5 to 1,000 for 1. All point spreads use half points, eliminating the possibility of a tie. - Super Teaser Card
On the Super Teaser card, the point spreads are adjusted even more than with the Teaser card. The favored teams must cover even fewer points in order to be winning selections. The underdog teams receive more points, The payoffs on the Super Teaser card are lower than they are on the Teaser cards because of the additional advantage the player gets on the point spread. On a Super Teaser card, players may parlay from 4 to 20 selections and receive payoffs ranging from 11 for 5 to 80 for 1. All point spreads use half points, eliminating the possibility of a tie. Players may bet on both sides. - Reverse Teaser Card (Pro Only)
On the Reverse Teaser card, the point spreads are adjusted so the favored teams must cover a larger point spread and underdog teams must cover a point spread that is smaller, and, in some cases, even minus points. In some cases, both teams in a game may be minus points and you may not bet both teams in that game. Because of these point-spread adjustments, the payoffs are much higher than those found on the other Teaser cards. On a Reverse Teaser card, players may parlay from 3 to 8 selections and receive payoffs ranging from 20 for 1 to 5,000 for 1. All point spreads use half points, eliminating the possibility of a tie. - $100,000 Parlay Card (Pro Only)
Players wager $5 and select 15 games against the point spread. If a player correctly picks 15 out of 15 games, he wins $100,000. If there is more than 1 winning ticket, the $100,000 prize is divided equally among the winning tickets. The $100,000 Parlay Card will have a few select Totals (Over/Under) Wagers upon occasion. Football Futures:
No card required. This wager is offered for the entire current season. To place a bet, the player simply selects a team. The odds fluctuate during the season, but are locked in at the time the wager is placed. Note: The Delaware Lottery reserves the right to refuse any wager/multiple cards or delete or limit any selection(s) prior to acceptance of any wager.
Additional wagers:
Off-the-Board Parlays
In Off-the-Board Parlays, the point spreads may fluctuate from the opening line. Players can parlay from three to eight teams and receive payoffs ranging from 11 to 2 to 160 to 1. There is a $5 minimum bet on Off-the-Board Parlays.Off-the-Board Teasers
The players can select 6, 6 1/2, 7, 10 and 14-point Teasers. A Teaser allows the player to add extra points to an underdog’s point spread or subtract points on a favored team.Halftime Wagers
A halftime wager, for betting purposes, resets the score of a game at 0-0 at halftime of a game. For example, if the Green Bay Packers lead the San Francisco 49ers at halftime by a score of 14-10 and you wager on the Packers -3 1⁄2 points in the second half, the Packers must win the game by eight points or more to cover the spread. Halftime wagers also include any overtime periods that are played.
- Off-the-Board Odds
Delaware Lottery Sportsbook and Sports Lottery Retailer Wagering Rules apply to parlay cards unless otherwise stipulated on the cards. The Delaware Lottery reserves the right to add, delete, or change its Wagering Rules and/or payoff odds at any time.
Note : Wagers are not available for Delaware based teams.
