February 6, 2023

Posted on: Jan 25, 2023 06:17 am.

Last updated on: January 25, 2023 06:29.

Betfred placed a big bet to start in Ohio and now the sportsbook appears to be doubling down.

Betfred
Betfred founder Fred Done announced on Wednesday that the UK-based sportsbook will pay out all Super Bowl futures bets placed on the Cincinnati Bengals. And that’s despite the fact that the Super Bowl doesn’t take place until February 12th. Betfred is the official sports betting partner of the Bengals. (Image: Betfred)

On Wednesday, the UK-based company announced that it would pay out all Super Bowl futures bets on the Cincinnati Bengals. And that’s despite the fact that the Bengals need one more win to even get into the game.

The NFL team, Betfred’s Ohio affiliate, plays the Chiefs in Sunday’s AFC Championship in Kansas City. If the Bengals win, they would face either the Philadelphia Eagles or the San Francisco 49ers in the big game on February 12.

I’m so proud to be a sponsor. I’m so pleased and so confident that I’ve decided to pay out to the Bengals to win the Pro Football Championship,” said Betfred founder Fred Done. “Yes, you heard me right.”

Betfred paid out on all Bengals Super Bowl bets placed up until 10:00 on Wednesday.

The sportsbook continues to take bets on the Super Bowl. It has also increased the odds on Bengals to +300 from +250 before Sunday’s game, with payouts capped at $10,000 at the increased odds. Betfred has the Eagles as favorites at +240, the Chiefs at +275 and the 49ers at +325.

While the company is better known in its native UK, Betfred is expanding its presence in the US. In addition to Ohio, it currently operates in Arizona, Colorado, Iowa, Louisiana, Maryland, Pennsylvania and Washington. It is also seeking a Nevada sports betting license.

Bengals Bettors Blitzing Ohio Books

Sports betting was introduced in Ohio on January 1st, and it coincided with the Bengals becoming one of the hottest teams in the NFL. The defending AFC champions won their last eight regular-season games and have won their first two playoff games since then.

Naturally, that led to the Bengals becoming a popular choice. Not only at Betfred but also at some other Ohio licensed sportsbooks.

Hard Rock Sportsbook saw most of its action with the Bengals ahead of last Sunday’s divisional playoff game in Buffalo. Jon Chapper, senior director of communications at Hard Rock Digital, said Casino.org 88% of pregame moneyline bets in playoff games were on the Bengals, who were an underdog to the Bills. In pre-game spread betting, 79% was won by the Bengals, who scored up to 5.5 points before the contest.

Those numbers included bets made on Hard Rock’s app and the sportsbook at Hard Rock Casino Cincinnati.

The numbers were similar at Betfred for the Bengals-Bills game and Betfred COO Bryan Bennett said Casino.org that they “definitely took a hit in this market.” However, given the relationship between Betfred and the team, it also gives them another week of high brand exposure.

Betfred is looking long term in Ohio

Betfred is trying to capitalize on its relationship with the Bengals, a team that has struggled in recent years and for most of history but last year reached the Super Bowl for the first time in 33 years. With Ohio being one of the largest states offering online sports betting, Betfred is focused on becoming the leader in the Cincinnati market.

They hope steps like the ones they took Wednesday will help them keep their current customers in Ohio and attract new ones.

“We’re good with the Bengals to keep winning,” said Bennett Casino.org at Tuesday evening. “I can’t buy the publicity that comes with being able to foster our relationship with them two weeks before a Super Bowl.”

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