FanDuel has launched a new feature that allows bettors to insure player prop wagers against in-game injuries, known as Bet Protect+. This involves users paying a small additional charge at 3% of the total stake (a $3 fee on a $100 wager) to safeguard their bets if a player exits a game early due to injury. When the protection is applied, affected single bets are reimbursed as cash instead of bonus bets, while parlays are adjusted by removing the impacted leg and recalculating the payout.
With player prop betting becoming extremely popular, users are always engaged in what’s happening with individual performances within sporting events. The majority of bettors like to choose “over” on over/under prop bets, which puts them at risk if a player departs early due to injury.
Whenever this happens, bettors have rushed to social media to voice their displeasure, messaging sportsbook accounts to demand that their bets be voided.
While sportsbooks have often voided bets, it’s been inconsistent. With some players, particularly marquee names, the bets have been refunded. But it’s not always the same.
By introducing a formal procedure to counteract early exits due to injury with Bet Protect+, FanDuel is not only innovating against the competition, but also clearly defining how you can have your bet voided.
FanDuel has begun introducing Bet Protect+ for NBA player props, covering both pre-game and live betting markets, with intentions to expand it to other sports in the future. The offering is currently accessible in most jurisdictions where FanDuel operates, though a handful of states have yet to approve the enhanced version. This includes Connecticut, Massachusetts, New Jersey, North Carolina, Pennsylvania, and Tennessee.
According to FanDuel, Bet Protect+ was developed after evaluating customer feedback around frustrations due to betting losses from injuries.
FanDuel’s goal with Bet Protect+ is to address a common issue for bettors while preserving the overall betting experience rather than limiting existing options.
If you’re wagering on NBA, the best way to use Bet Protect+ is to take a strategic approach with the offering. Don’t just pay the extra 3% on every wager you make. Be selective with when to use it.
For example, if you’re taking the over on a player returning from injury, it’s a good idea to add Bet Protect+, since there’s a greater risk that they’ll depart early. The same goes for a player who was a game-time decision and decided to suit up.
While a 3% fee may not seem like much, if you’re a regular bettor, it can add up over time, so picking your spots is the prudent move.
