Thanksgiving Sports Betting Surge: NFL Dominates Holiday Action

The Thanksgiving holiday in the United States is not only a time for family gatherings and feasting but also a significant occasion for sports betting. This year, the week surrounding Thanksgiving is expected to generate substantial betting activity, largely driven by a packed schedule of sporting events, particularly from the NFL.

The NFL has traditionally dominated Thanksgiving, with games scheduled throughout the day. In 2024, the league accounted for a remarkable 79% of the betting handle during the Thanksgiving week, according to data from BetMGM. College basketball and college football followed, contributing 13% and 5% respectively. Joey Feazel, head of football at Caesars Sportsbook, emphasized the significance of this week, stating that it rivals other major betting events such as the opening rounds of March Madness and the NFL Wild Card Weekend.

The Thanksgiving slate features three NFL games, all of which are anticipated to draw considerable betting interest. Christian Cipollini, senior trading manager at BetMGM, indicated that these games are among the most wagered contests of the regular season. Betting patterns often reflect a combination of factors, including the quality of the matchups and the availability of bettors during the holiday.

In 2024, the prime-time matchup will see the Baltimore Ravens facing the Cincinnati Bengals, with the Ravens initially favored by a spread of 7 points. This figure dropped from an initial 10.5 points as quarterback Joe Burrow is anticipated to return from injury. The afternoon game between the Kansas City Chiefs and the Dallas Cowboys is also expected to attract significant betting action, while the early NFC North clash features the Green Bay Packers against the Detroit Lions, with the Lions slightly favored by 2.5 points.

The excitement extends into Black Friday, where the Chicago Bears will visit the Philadelphia Eagles. This matchup features the tightest spread in the three-year history of the Black Friday NFL game, with the Eagles favored by 7 points. Sports analysts predict that the combination of playoff implications and the proximity to Thanksgiving will drive substantial betting activity.

Beyond the NFL, Thanksgiving week hosts a variety of sporting events, including college football rivalry games and college basketball tournaments. The college football landscape features significant matchups, such as the highly anticipated clash between Ohio State and Michigan, with the Buckeyes favored by between 9.5 to 10 points depending on the sportsbook. Additionally, college basketball fans can expect a busy schedule as many top teams engage in early-season matchups, making it one of the largest betting weeks outside of March Madness.

The diverse schedule during Thanksgiving week also benefits sportsbooks, as both the NFL and college sports play at unconventional times, attracting bettors who are off work. Feazel pointed out that the change in game timings creates a unique betting environment, providing opportunities for continuous engagement throughout the holiday.

Furthermore, the NHL and NBA will both feature a robust lineup of games during this period, adding to the excitement. The NHL will see all 30 teams in action on Wednesday and Friday, while the NBA will host several marquee matchups, including the Minnesota Timberwolves against the Oklahoma City Thunder and the Dallas Mavericks facing the Los Angeles Lakers.

As Thanksgiving approaches, sports betting is set to become a key feature of the holiday, with sportsbooks anticipating one of their busiest weeks of the year. The combination of family gatherings, a packed sports calendar, and the thrill of betting creates a unique atmosphere that sports fans and bettors alike eagerly await. According to Johnny Avello, director of DraftKings Sportsbook, the general public’s enthusiasm for quality football boosts betting activity, ensuring that this Thanksgiving will be memorable for sports fans and bettors.