The FanDuel Sportsbook made a historic pay-out last week. They became the first legal sports betting operator in the United States to pay out future bets on the College Football National Championship.
Yes, that’s over a month before the final game kicks off.
FanDuel said they were so sure the Alabama juggernaut would be invincible this season they have already paid out all future bets on Alabama being triumphant.
“It has been a dominant season for the Crimson Tide and our traders have seen enough. It is time to reward our loyal customers in advance of the SEC Championship game this Saturday, Mike Raffensperger, CMO of FanDuel Group said when the New Jersey sportsbook operator announced its historic pay-out decision.
“With Alabama currently a -280 shot to win the National Championship, the FanDuel Sportsbook has decided to settle all futures wagers on Alabama as winners, regardless of what happens for the remainder of the season,”
The fact that FanDuel’s traders this week have Alabama as a 13-point favorite on the spread market against the fifth best College team in the nation right now strongly underlines Alabama’s massive superiority at the present time.
“Alabama’s historic and seemingly inevitable march to Levi’s Stadium deserved a history-making gesture to our customers.” “While the college football season has not had too many surprises. We wanted to surprise our customers, thank them for their loyalty, and prove there are more ways to win on FanDuel.”
How Much?
When taking into account Alabama championship futures that are involved in parlays, the early payout could well be as much as $400k.
Retail customers with a physical bet slip dated before November 30th can redeem it for the full amount starting this afternoon at any FanDuel brick and mortar sportsbook location. But future wagers placed on Alabama after 5 PM ET on November 30th will not qualify for an early payout, Raffensperger,” said.
“FanDuel is a customer-first company. Innovations like an early payout for a major sporting event are exemplary of what can be done in a legal and regulated sports betting market. All to benefit the consumer,” the boss man of the New Jersey sportsbook continued.
“Even if Alabama loses its next game or doesn’t win the national title. This historic pay-out is something that we want to do to celebrate our customers and show why we are the most innovative and fun sportsbook in the United States.”
For customers who missed out on the early payout, FanDuel has come up with another way for them to benefit from Alabama’s dominance this season.
Starting from the beginning of December, FanDuel Sportsbook has boosted the odds on Alabama to cover the spread (-13) in this weekend’s SEC Championship match from -110 to +150 (max bet $25).
“Additionally, we have set up a special early betting line for the National Championship game featuring Alabama v Clemson. The special early market has Alabama -8 against the #2 ranked team in the country. If the matchup doesn’t occur, all bets void and money returns to the customers.
“If our traders are incorrect about the superiority of Alabama and they fail to win the championship, FanDuel will payout all wagers on the winning team as per usual.”
