This week sportsbetting group FanDuel announced that they're going to honor most futures bets related to the Alliance of American Football, which ceased operations mid-season amid financial distress.
The group will pay out bets related to the league, including those that predicted the league champion. In this case, FanDuel paid out for the Orlando Apollos as champs, which held a 7-1 record when the league folded last week. It's expected that the operator will end up paying out around $10,000 to settle those bets. The AAF was seen as a way to bring professional football to a rabid American fanbase in the traditional offseason for the NFL and college versions of the game. Unfortunately, the league was a flop, as financial ruin caused the league to fold with two games left in the regular season and three playoff games yet to be played.
A press release on the matter from FanDuel read: "Since the league was unfortunately unable to crown a champion, FanDuel Sportsbook will do so. Today, FanDuel Sportsbook Risk and Trading Team has declared the Orlando Apollos the AAF Champions and will pay out all straight futures bets as winners (with site credit). We want to congratulate the Orlando players, staff and especially head coach Steve Spurrier for an impressive season. If we had the official power, FanDuel would also name Spurrier - AAF Coach of the Year."