Circa Sports is facing a potential $7.5 million overlay in its Circa Survivor contest as entries remain below the number needed to meet its $15 million guaranteed prize pool.
With less than two weeks left before the September 6 registration deadline, the contest has 10,223 entries, short of the 15,000 required, the Las Vegas Review-Journal reported.
Entry fees are $1,000, and sign-ups have been trending 40% higher than last year’s pace, for a projected prize pool of about $20 million. But that projection has since been revised.
“Here’s where it’s going to be tough to keep pacing around that 40 percent because this is where the numbers really started picking up last year as well,” said Mike Palm, vice president of operations for Circa, D Las Vegas, and Golden Gate. “The same time last year we had 7,400 (entries), so we’re up a little over 2,800, which represents 38 percent. If you extrapolate that out, that’s about $19.6 million for the prize pool.”
The Survivor contest runs across 20 legs — NFL Weeks 1 through 18, plus Thanksgiving/Black Friday and Christmas — with contestants selecting one straight-up NFL winner per leg without a point spread. Each team can be picked only once.
Circa’s Million VII contest, where entrants make five weekly NFL picks against the spread, currently has 3,235 entries. The contest requires 6,000 entries to meet its $6 million guarantee.
“If you extrapolate it out, we come in at 5,970. We’re going to be real close,” Palm said. “I think we’re going to come in right at that $6 million.”
Circa has paid roughly $4 million in overlays over the past four years, including $183,000 last year to meet the Million guarantee.
The new Grandissimo contest, featuring a $100,000 entry fee, has already surpassed its $1.5 million guarantee with 22 entries. Palm said additional registrations are pending, and total entries could reach 35 to 40.
“There are a couple more that have wired their money to the cage but haven’t gotten here to sign up yet,” Palm said.
Some entries are shared by groups, but others have been purchased by individuals.
“I’m just surprised at the number of people we didn’t know before that hadn’t been customers of Circa in any way that have come out to participate in Grandissimo,” Palm said.
The Westgate SuperBook's new $500-entry SuperContest College had 745 entries as of Monday, generating a prize pool of $372,500. Registration closes at 3 p.m. Friday, and Week 1 picks are due by 5 p.m. Friday. The 14-week contest requires seven weekly college football picks against the spread.
“We are hoping for a late push this week to get us in around 900 or so entries in the college contest,” said John Murray, vice president of race and sports at Westgate.
Other Westgate contests include: