Connect with us

Gambling in the USA

New Jersey Sports Books Leap 135 Percent In August As Online Sports Betting Hits The Market

George Miller

Published

on

New Jersey Sports Books Leap 135 Percent In August As Online Sports Betting Hits The Market
Photo Credits: gettyimages
Reading Time: 2 minutes

 

New Jersey’s sportsbooks — with the addition of the state’s first online sportsbooks — saw a 135 percent increase in wagers and 139 percent increase in gross revenue in August and set the stage for another jump in September.

“We could see sports betting grow by more than 300 percent in September as NFL and college football ramp up and the number of options for online sports wagering in New Jersey continues to grow,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com.

New Jersey’s sportsbooks generated $9.1 million in gross revenue on $95.6 million in wagers, or handle, in August, according official reporting released Wednesday.

“Once mature, we expect New Jersey to be a much larger market than Nevada,” Gouker said. “We do not believe that it will take long before New Jersey is the largest legal sports betting market in the U.S. It could be within the coming year.”

DraftKings Sportsbook became New Jersey’s first online sports betting site on Aug. 6 and generated $2.97 million in gross revenue. DraftKings was followed on Aug. 22 by playMGM, generating $49,626 in gross revenue, and on Aug. 23 by SugarHouse sportsbook, generating $103,324 in gross revenue.

“We saw a race to the online market ahead of the NFL season, and the strong August handle shows why,” Gouker said. “Online sports betting will be an important vehicle for the industry.”

FanDuel Sportsbook at The Meadowlands led retail sportsbooks with $3.1 million in August gross revenue.

For the month, online sportsbooks generated a handle of $21.7 million in August, compared with $73.9 million at land-based sportsbooks.

In August, the state’s online casinos generated $24.8 million in gross revenue, down 4.2 percent from the record $25.9 million in July. August’s total was up 16.6 percent from August 2017.

“Even with just a handful of operators, online sports betting added to the momentum that legal online gambling has maintained in New Jersey,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com.

 

About The PlayUSA Network:
The PlayUSA Network and its state-focused branches (including PlayNJ.com, PlayNY.com, PlayPennsylvania.com, and PlayCA.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

 

 

Source: PlayNJ.com

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Continue Reading
Advertisement
Comments

Gambling in the USA

ATG partners with USA’s biggest TV network for horse racing

George Miller

Published

on

Photo Source: ATG/swedishhorseracing.com
Reading Time: 2 minutes

ATG has come to a partner agreement with TVG, the largest TV network for horse racing in USA.

 

Starting September 17, 45 million American households has will be given the possibility to bet on ATG‘s products.

“This is a unique possibility for ATG to reach out to horse racing bettors in USA and will also be a great way of showcasing the great sport we have here in Sweden” says Lars Nemeth, head of international sales at ATG.

TVG is a Los Angeles based company, founded in 1987. TVG has today two TV channels and broadcast up to 15 hours of horse racing daily to 45 million American cable and satellite households. Since 2009 TVG is a part of the Irish Paddy Power Betfair betting concern.

“TVG is a strong trademark on the American market and they broadcast around 50,000 races a year from around the world. The main intention with this cooperation agreement is of course to create revenue for both parts but like I said, I also see it as a unique possibility to showcase Swedish horse racing” says Lars Nemeth.

The TVG customers will be able to bet Win, Place, Show, Exacta, Trifecta and Daily Double right in to ATG’s Swedish pool.

“Swedish Trotting, Swedish Gallop and ATG will be able to deliver world class products, therefor it’s fantastic to be able to offer our viewers both broadcasts and betting from Sweden. Business wise and also editorial we’re emphasising on the best races Wednesday through Sunday. In our regular broadcasts we will have lots of live updates and latest news about the races and in cooperation with Kanal 75 show stories about both the sport of trotting and gallop in Sweden” says Stephen Kennelly, Vice President of Product and Exchange, TVG FanDuel Group US.

On the international betting market so called rakebacks, where bettors will receive discounts based on how much they bet, very common. However, in all of ATG’s partner agreements no rakebacks are allowed, also in this deal wth TVG.

“Both us and ATG are interested in creating a sustainable long term deal. TVG has basically the same broad spectrum of customers as ATG, we focus on incentivizing and gaining new and existing business by providing access to high quality content and service, not through high volume rebates to a limited audience.” says Stephen Kennelly.

Facts, TVG
• USA’s largest TV network for trot and gallop horse racing – reaches 45 million households.
• Owned by the betting concern Paddy Power Betfair, Irland.
• 320 employees, most of them at their TV head quarter in Los Angeles, California.
• Broadcasts around 50 000 races each year from around the world through their TV channels TVG (seven days a week) and TVG2 (five days). the channels are also available online (www.tvg.com) and through Apple TV, Chromecast, Amazon and Roku.
• Will be able to bet Win, Place, Show, Exacta, Trifecta and Daily Double starting September 17, 2018
• TV and marketing support in TVG1 and TVG2 from September 23.

Source: ATG

Continue Reading

Gambling in the USA

Vegas Golden Knights signs deal with William Hill

Niji Ng

Published

on

By

Vegas Golden Knights signs deal with William Hill
Photo Source: ingingitinmotown.com - Photo by Ethan Miller/Getty Images
Reading Time: 2 minutes

 

World’s leading betting company William Hill and the Las Vegas-based National Hockey League (NHL) franchisee Golden Knights have signed a multiyear partnership. The deal will include in-arena signage and updated league-wide odds displayed on the video board during intermissions at T-Mobile Arena in Las Vegas.

This partnership is the first of its kind in North America between a bookmaker and an NHL franchise.

Terms of the agreement were not disclosed.

“We are always looking for innovative ways to engage different segments of our fan base and provide a unique fan experience,” Golden Knights president Kerry Bubolz said in a release announcing the deal. “This partnership between a major professional team and a sports book operator is a historic, landmark agreement and we are delighted to be leading the way with William Hill in this space.”

The partnership between sports franchises and bookmakers could be the first of many as more states elect to offer legal sports betting. The NBA recently completed a deal with MGM Resorts, making the company the “official gaming partner of the NBA.”

“We could not be more excited to partner with the Golden Knights,” William Hill CEO Joe Asher said in the release. “William Hill is the leader in the U.S sports betting market and we are proud of the fact that this is the first sponsorship agreement between a sports book and an NHL team in the country.”

Asher said at a recent gaming conference that the U.S. branch of William Hill has been fielding frequent requests from sports franchises asking about partnerships.

The NHL, along with other major U.S. professional leagues, has been an ardent opponent of sports betting, with commissioner Gary Bettman often expressing concerns about how legalised betting would impact the atmosphere in the arenas.

 

Source: ESPN

Continue Reading

Gambling in the USA

Court cancels Pennsylvania’s ban on gambling donations

Niji Ng

Published

on

By

Court cancels Pennsylvania’s ban on gambling donations
Photo Credit: AP
Reading Time: 2 minutes

 

A federal judge has annulled legislation in Pennsylvania law that banned casino owners and persons who owns stakes in the gambling industry from contributing to political campaigns in the state. The court observed that the legislation is unconstitutional.

In her 31-page opinion, U.S. District Judge Sylvia Rambo said the provision violates constitutional protections over political association. However, Rambo did not close the door on lawmakers reviving a similar ban that is narrower in scope and tailored to the purpose of fighting corruption.

“The court holds only that the ban in its current form goes much further than necessary to achieve its stated purpose of eliminating corruption and the appearance of corruption,” Rambo wrote.

The U.S. Supreme Court, Rambo wrote, has ruled that preventing corruption, or the appearance of corruption, is the only sufficient reason to justify restrictions on political contributions.

So the Legislature, she wrote, could more strictly define who is subject to the ban by limiting its reach to those with close connections to a casino or imposing a limit on the amount of cash contributions. Right now, law acts as a wholesale ban on contributions of any amount, even $1, by people with “even an attenuated connection” to the gambling industry, far exceeding the necessary scope of such a prohibition, Rambo wrote.

The ban applied to people who own a stake in a casino, a slot-machine manufacturer or a casino vendor, as well as non-owner executives and important employees.

The prohibition has largely stood in Pennsylvania since the state legalised commercial casinos in 2004, touted as a major bulwark against gambling industry influence. A spokesman for the state attorney general’s office directed questions to the Pennsylvania Gaming Control Board. A spokesman at the board did not respond to a request for comment.

The lawsuit was filed last year by Pasquale Deon, who owns a 2.5 per cent stake in Sands Casino in Bethlehem, according to gaming board records, and Maggie Hardy Magerko, whose family owns the Nemacolin Woodlands Resort in southwestern Pennsylvania that is home to Lady Luck Casino.

With 12 casinos operating and a 13th under construction, Pennsylvania is the nation’s No. 2 state for commercial casino gross revenue, second to Nevada. At $1.4 billion in the most recent fiscal year, Pennsylvania rakes in more tax revenue from casino gambling than any other state, according to the American Gaming Association’s figures.

 

Source: AP

Continue Reading
Advertisement
NSoft
Advertisement
BetConstruct

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.