Why Your Bet Is Still Open After The Game Has Ended
As an experienced bettor and longtime fan of sports wagering, I‘ve encountered the situation many times. You place a bet, watch the game unfold, and have a good idea of whether you won or lost. But long after the final whistle, your bet remains frustratingly open without settlement.
The main reason bets stay open is sportsbooks must officially confirm and verify all results and statistics before conclusively settling wagers. This crucial process guarantees accuracy and integrity in bet grading for both bookmakers and bettors.
While delays can be annoying, most bets settle within 24 hours oncesportsbooks get the official data they require. Specific postponements happen due to…
Delays Receiving Official Scoring, Stats, and Data
Sportsbooks grade wagers accurately by confirming official statistics and data directly from sports leagues and data providers. For example, Steph Curry‘s incredible shooting displays means accurate three-pointer tallies get double and triple checked.
With certain niche statistics like blocks or steals, it‘s also common for numbers to change between players as data is compiled after games before becoming truly official.
For live, in-game bets, ongoing game action itself can impact settling. If you bet on "Will there be overtime?" in a tight NBA game, overtime itself determines your bet‘s outcome. So booking closing out open tickets happens after the final whistle.
"We only consider data official and bets settleable once we‘ve received verified outcomes from our league partners," said John Sheeran, spokesman for leading sportsbook FanDuel.
Massive Betting Volume Causes Slower Settling Times
Make no mistake, sports betting is big business. And for monumental sporting events like March Madness or the Super Bowl, sportsbooks deal with literally millions of placed wagers.
A staggering $180 million was bet (legally) on the 2022 Super Bowl across a few individual states. The 2022 March Madness tournament drew total handles of $3.1 billion according to the American Gaming Association.
With such incredible betting volume on these ultra high-profile games, naturally there are going to be longer wait times for sportsbooks to officially settle all wagers. But rest assured, if you win big on say Chiefs star Patrick Mahomes throwing OVER 2.5 TD passes in the Super Bowl, your payout is coming!
"Our risk management team works around the clock to confirm results on every single bet for major events." said Sheeran. "Settling quickly and accurately is critical for our players."
| Sport | Avg. Time To Settle Bets |
|---|---|
| Football | 12-24 hours |
| Basketball | 12-18 hours |
| Baseball | 18-24 hours |
| Hockey | 12-18 hours |
The Bet Settling Processes Leading Sportsbooks Undertake
We examine what goes on behind the scenes as sportsbooks verify results to settle open wagers:
1. Compile Official Box Scores and Statistics
Bookmakers gather certified final numbers and outcomes from league partners and data providers immediately after ended games.
2. Confirm Scoring, Stats, and Game Data
Sportsbook data scientists analyze box scores, double checking accuracy of scoring statistics versus initial live data.
3. Cross-check Game Outcomes
Risk management executives determine winners and losers of bets based on confirmed statistics.
4. Grade and Settle All Bets
Once all data checks pass, open wagers get graded and settled simultaneously.
5. Issue Winnings Payouts
Winnings get credited to player accounts shortly after bets get graded and closed. Players get notifications their payouts are coming!
Why Accurate and Swift Bet Settling Matters
Settling open wagers fairly and swiftly matters greatly for upholding integrity across the regulated sports betting industry. Players trusting bookmakers depends deeply on accurately and quickly getting paid wins. And wrongly settled bets erode that trust rapidly.
Most regulated bookmakers like FanDuel and DraftKings indeed aim to get betting outcomes confirmed speedily after events finish to maintain transparency with patrons. State gaming commissions even monitor to ensure proper oversight.
Considering the meteoric explosion of in-game live betting, settling all bets accurately poses more challenges than ever for bookies. But it‘s a balancing act they continue working tirelessly behind the scenes to perfect.
So while stuck with that frustratingly still open bet, understand settlement delays usually get explained by sportsbooks working diligently so you receive rightful payouts!
