Risk and reward: Sportsbooks cash in on rise of women’s sports betting, but at what cost?

September 4, 2024

The WNBA rookies rivaled each other at LSU and Iowa in a memorable championship game in the 2023 NCAA women’s basketball tournament, with a rematch the following April that drew a women’s college basketball record of 12.3 million viewers in the women’s Elite Eight. Clark and Reese’s high-profile matchups and competition have spiked growth in women’s basketball.

TV networks are not only experiencing the financial benefits of increased interest in women’s sports; sportsbooks are also feeling the impact. In April’s LSU-Iowa rematch in the NCAA Women’s Basketball Tournament, FanDuel received the most wagers all time for women’s sports. This season, Caesars Sportsbook saw a 516% increase in bet counts during the WNBA’s opening night, while BetMGM reported that the amount of money bet on WNBA futures, like predictions for the league’s championship team and MVPs, rose by 175%. CN