Weak NBA Finals Ratings Could Dent Sportsbook Operator Earnings
Posted on: June 23, 2025, 01:38h.
Last updated on: June 23, 2025, 01:45h.
- 2025 Finals were among lowest-rated for the NBA in recent memory
- Series between two small city teams could be drag on sportsbook operator earnings
The 2025 edition of the NBA Finals was exciting with the series going the maximum seven games while featuring plenty of drama, including a devastating injury suffered by Indiana Pacers star Tyrese Haliburton in the final contest on Sunday.
That still wasn’t enough to lift television ratings and sportsboook operators, such as Flutter Entertainment (NYSE: FLUT) could pay a price in the form of weaker second-quarter earnings, according to Benchmark analyst Mike Hickey.
It is no secret that the Pacers-Thunder NBA Finals has been something less than a ratings bonanza. The first five games averaged 9.18 million viewers, the worst five-game average for the Finals in the Nielsen people meter era (1988-present), save for Lakers-Heat in the fall 2020 ‘bubble,’” reports Jon Lewis for Sports Media Watch.
Historical data indicate there are often significant jumps in viewership starting with game five in the seven-game format, but that didn’t occur in the Oklahoma City Thunder/Pacers matchup — a surprising reversal in trend, particularly when considering the teams were tied 2-2 entering the fifth game. With that bump not occurring, sportsbook operators could experience a second-quarter earnings drag.
Small Market Matchup Likely Hampered Ratings, Sportsbook Earnings
One of fans’ favorite, long-running NBA conspiracy theories is that the league wants or even attempts to orchestrate a finals matchup involving at least one team from a large media market such as Boston, Los Angeles, or New York. That scenario didn’t play out this year.
Conspiracy theories aside, there are links between the rise of sports wagering leading to increased viewership for some leagues, including the NFL. However, lower viewership for the 2025 NBA Finals likely dampened activity among recreational bettors — a cohort that contributes mightily to sportsbook operators’ earnings and revenue — according to Hickey.
That implies that casual fans and bettors need to find a playoff matchup compelling to turn on their televisions and place wagers. A tilt involving teams from Indiana and Oklahoma lacked the requisite pizazz and that could result in a lid placed on second-quarter earnings.
Hickey notes that FanDuel parent Flutter’s results for the April through June period may not be damaged too much by low NBA Finals ratings because the New York Knicks reached the Eastern Conference finals, contributing to upside for the operator in New York and a 5.4% quarter-to-date handle increase.
Other NBA Finals Odds and Ends
While the Pacers/Thunder series wasn’t a ratings hit, league-altering drama materialized over the weekend. That includes the aforementioned injury to Haliburton, which could keep him out all of next season, and the trade of 15-time all-star Kevin Durant to the Houston Rockets from the Phoenix Suns.
Those two events coupled with the major injury suffered by Boston Celtics star Jayson Tatum earlier in the postseason confirms the NBA’s balance of power will remain in the West while the Eastern Conference will be wide open next season.
And for those keeping score at home, entertainment mogul and rapper Jay-Z lost his $1 million bet, placed with Fanatics, on Oklahoma City winning in five games.
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