New Jersey Sports Betting Handle Surges to $261M, Revenue ‘Just’ $11M As Bettors Exact Revenge

The good news for the New Jersey sportsbooks in the newly released revenue report for October is a large jump in handle from $186 million in September to $261 in October. The downside is that the bettors took a bigger bite of the books this month than usual, cutting revenue by more than half month-over-month from $24 million in September to “just” $11.7 million in October.

Overall that spells a 4.4 percent hold, down from 13 percent in Sept., which may be partly attributable to baseball (more on this below) and perhaps moreso a lot of “public” teams covering the spread in October NFL contests. The rise in betting handle is almost entirely attributable to the mobile/one sector, which grew from $105 million in September to $174 million in October. On-site sports betting inched up from $79 million in the prior month to $86 million.

Resorts Digital continues to lead the way by a lap on the revenue front, reporting $5.1 million in October, which is nearly half of the entire haul across all sportsbooks for the month. An arm of Resorts Casino, Resorts Digital figures represent DraftKings Sportsbook as well as BetStarsNJ.com.  We can no longer parse out which side is driving what, but based on prior figures we can safely say that DraftKings is responsible for the lion’s as well as the cub’s share. Let’s dig in a litter deeper now.

 

October Brick-and-Mortar Sportsbook Revenue:

  • Bally’s: $303K
  • Borgata: $120K
  • Golden Nugget: $46K
  • Harrah’s: $104K
  • Meadowlands (FanDuel Sportsbook): $1.1 million
  • Monmouth Park: $606K
  • Ocean Resort: $438K
  • Resorts: $97K
  • Tropicana: $15K

A spokesperson for FanDuel Sportsboook said: “Demand for the FanDuel Sportsbook continues to outpace our expectations with online handle 2.5 times higher than September and continued double digit growth in retail handle. It was an exciting month for bettors who won at a high rate on football and benefitted from our industry-leading pricing and odds boosts.”

October Online Sportsbook Revenue:

  • Bally’s (combination of CaesarsCasino & 888sport): $108K
  • Borgata (PlayMGM): $67K
  • FanDuel Sportsbook (Meadowlands): $2.43 million
  • Golden Nugget (PlaySugarHouse): $151K
  • Monmouth Park (William Hill and PlaySugarHouse): $609K
  • Ocean Resort (William Hill): $385K
  • Resorts Digital (combination of DK Sportsbook and BetStarsNJ.com):  $5.1 million
 

Read more New Jersey Sports Betting Handle Surges to $261M, Revenue ‘Just’ $11M As Bettors Exact Revenge on SportsHandle.

‘Pro Football Handle’: NFL Week 11 Breakdown: Chiefs-Rams Back in The U.S.A. and the Highest NFL Total Ever

On The Pro Football Handle, brought to you by PropSwap.com, Las Vegas-based sports talk voice Matt Perrault and veteran bookmaker Robert Walker of USBookmaking dive into select NFL games, line movements and bookmaker liabilities, plus greater sports betting topics and stories that may have nothing to do with football. Walker has seen it all behind the counter and Perrault the same from behind the microphone, so they’ll have you prepared for anything.

Week 11 is here and what a week it is. There are some truly bad games like Bucs vs. Giants, but there’s also a possible Super Bowl preview with Chiefs vs. Rams and the highest regular season total ever. The Steelers are also officially Le’Veon Bell-less (and may be better of for it) and the Bears defense is looking fierce. 

Spotify fans go here to listen. Download the PropSwap app for iOS systems here and Android here. Time codes for the episode follow below.


1:40 — From Mexico City to LA — what does a venue change mean for bettors on the Week 11 marquee matchup?

10:31 — PropSwap.com Futures Focus  —  More than just a futures marketplace, check out PropSwap for favorable real-time betting opportunities and get 10% off your first purchase by visiting PropSwap.com/Handle.

15:41 — Green Bay Packers +3 at Seattle Seahawks  — Perrault doesn’t usually play Thursday night games, but he just may need to get some action on this week’s match up.

19:09 — Dallas Cowboys +3 at Atlanta Falcons — After the ‘boys primetime win in Week 10, will the public fall back in love with America’s Team this week?

26:06 — Carolina Panthers -4 at Detroit Lions — Could this be ugliest game of the week? No one wants to take a chance on Detroit.

28:27 — Cincinnati Bengals +4.5 at  Baltimore Ravens — This game’s off the board in most spots. Does anyone even care? .

30:30 — Philadelphia Eagles +8.5 at New Orleans Saints — Contrarian pick of the week!

35:49 — Tennessee Titans +2 at Indianapolis  Colts —  Only one way to bet this game: take the dog.

39:11 — Houston Texans -3 at Washington Redskins — Will this be the worst game ever between two 6-3 teams?

43:15 — Tampa Bay Buccaneers +1.5 at N.Y. Giants — This is a hard game to handicap. They may have to book it, but you don’t have to play it.

45:35 — Oakland Raiders +5.5 at Arizona Cardinals –– Oakland looks like they are playing for lottery picks.

48:21– Pittsburgh Steelers -5.5 at Jacksonville Jaguars — Where is the Jaguars of the beginning of season? Another contrarian option

50:11 — Minnesota Vikings +2.5 at Chicago Bears — The Vikings should be taken seriously in the NFC, but the Bears defense is scary good.

52:51 — Kansas City +3.5 at L.A. Rams — Hyper emotional game for L.A., but KC is the right pick. And with the highest regular season game total ever at 63.5 (and rising), the under could be a smart play.


Have a profitable Week 10, folks. Thanks for listening and see you back next week, tell a friend, sign up for our newsletter and also check out the Cover City Podcast, featuring sports bettor Eric Rosenthal.

Follow Perrault on Twitter @sportstalkmatt and Walker @robertusfsports.

 

 

Listen to more ‘Pro Football Handle’: NFL Week 11 Breakdown: Chiefs-Rams Back in The U.S.A. and the Highest NFL Total Ever  on SportsHandle.

Physical DraftKings Sportsbook Set to Open At Resorts In Atlantic City

For the second time this week, DraftKings has announced the forthcoming opening of a physical sportsbook — this time where the post-PASPA U.S. sports betting expansion started, in New Jersey*.

“Construction is near completion on the DraftKings Sportsbook at Resorts, slated to open by late November 2018,” pending approval from the state’s Division of Gaming Enforcement. The Associated Press reports a more specific date — Tuesday, Nov. 20.  According to the AP, the sportsbook will be situated in an area where patrons can access it via an entrance off the Atlantic City boardwalk.

But wait, didn’t Resorts already open a sportsbook over the summer, branded Resorts, in conjunction with SB Tech? Indeed it did, but apparently there’s room for more than one operation to co-exist under the same roof, same as the digital arms for each property, which can implement up to three “skins” online.

 

Read more Physical DraftKings Sportsbook Set to Open At Resorts In Atlantic City on SportsHandle.

Here’s Why Rhode Island Sports Betting’s Launch Is Delayed

Rhode Island lawmakers were counting on an immediate windfall of revenue from sports betting when they legalized sports wagering in June. But five months later, neither of the state’s two commercial casinos have opened their sportsbooks, and the projected opening date of Oct. 1 has come and gone.

Why? Testing of software is still ongoing, and negotiations between the state’s two casinos and William Hill and IGT, who will operate the sportsbooks, is taking longer than expected, according to Rhode Island Department of Revenue chief of information and public relations Paul Grimaldi.

“Our expectation is for sports betting to begin around Thanksgiving. I cannot give you a specific date today as it is dependent on the completion of testing of the IGT/William Hill sports betting software,” Grimaldi told Sports Handle in an e-mail Tuesday. “They released the software to the Division of Lottery on Nov. 5  We expect two weeks +/- for completion of the testing. The sportsbook will start taking bets once the software is certified.”

 
 

Read more Here’s Why Rhode Island Sports Betting’s Launch Is Delayed on SportsHandle.

NFL Injuries and Sports Betting: Audibles at the Sight of Line Moves

Handicapping football injuries in the NFL, although similar to parsing less abundant injury information in the college game, requires a unique skill set and approach. It’s also an absolute imperative for any serious bettor as NFL lines have become sharper and less elastic in the information age.

Andy Iskoe of the Logical Approach, a handicapping and sports research service, has analyzed such injury information and contextualized it as long as he’s been in the business. The longtime Las Vegas professional handicapper, podcaster and featured columnist for numerous sports betting publications including Gaming Today, examined this topic for Sports Handle recently.

Iskoe says experienced handicappers and bookmakers sometimes assign a point value to each position if a starter is injured, but that in the pro game, as one would expect, most adjustment in terms of the point spread revolve around the quarterback.

 

Read more NFL Injuries and Sports Betting: Audibles at the Sight of Line Moves on SportsHandle.

DraftKings Set to Open Retail Sportsbook In Mississippi This Week

The post DraftKings Set to Open Retail Sportsbook In Mississippi This Week appeared first on SportsHandle.

DraftKings and the Scarlet Pearl Casino Resort in D’Iberville, Miss. announced a partnership on Monday that will put DraftKings in charge of the casino’s retail sportsbook.

Once live, this will mark two firsts for the Boston-headquartered company: its first retail sportsbook and its official foray into a second state after New Jersey, where DraftKings operates under a license with Resorts Casino and so far has led the competition among NJ online sportsbooks — by a couple laps — in terms of handle and gross revenue.

“Opening Nov. 16, 2018, the sportsbook will transform Scarlet Pearl’s existing PRL Bar into a multi-screen betting and social destination for sports lovers,” reads Monday’s joint news release.

 

Read more DraftKings Set to Open Retail Sportsbook In Mississippi This Week on SportsHandle.

TN Lawmaker Files Sports Betting Bill Ahead of 2019 Session

One day after the mid-term elections, Tennessee state Representative Rick Staples (D-District 15)  filed the state’s first piece of sports betting legislation ahead of the 2019 session, which begins Jan. 8.  The bill, HB 0001, while an initial effort, covers many of the key points needed for meaningful legislation.

The “Tennessee Sports Gaming Act,” filed on Nov. 7,  calls for legal sports betting “only in jurisdictions that approve sports betting by local option election.” This language seems to infer that legal sports betting would be brought to Tennessee voters and could potentially be approved on a county-by-county basis. In a similar situation in Louisiana, voters in some parishes approved daily fantasy sports, while voters in other did not.

The Tennessee bill calls for a 10 percent tax on a licensee’s adjusted gross income. Nevada’s 6.75 tax on gross sports betting revenue is the lowest of all states with legal sports betting while new sports betting jurisdictions in Pennsylvania and Rhode Island impose rates of 34 percent or higher. The bill would set the licensing fee at $7,500. 

 

Read more TN Lawmaker Files Sports Betting Bill Ahead of 2019 Session on SportsHandle.

Updated KY Sports Betting Bill: 25 Percent Tax, Creation of Kentucky Gaming Commission, No Integrity Fee

Kentucky Senator Julian Carroll (D-District 7) refiled an updated version of his sports betting bill on Friday. The bill, which would create the independent Kentucky Gaming Commission, calls for a 25 percent tax on net sports betting revenue as well as allowing the Kentucky Lottery Association and existing horse racing associations to be granted licenses. Any other interested venues may also apply.

The tax rate applies to commercial sportsbooks and vendors, but not the Lottery Association’s license. And the bill would give all the regulatory power, including, it appears, determining what types of events could be bet on and whether mobile/online wagering is permitted, to the new Kentucky Gaming Commission. Unsurprisingly, there is no mention of any sort of fee or royalty benefiting professional sports leagues.

Kentucky lawmakers and stakeholders have had a busy few months studying sports betting, and it’s likely the state will be among the first to seriously consider legalizing sports betting in 2019. Carroll’s bill is likely just one of several that will be filed and considered when the state legislature goes back into session. Carroll, a former Kentucky governor, is a member of the state’s “working group” on sports betting.

 
 

Read more Updated KY Sports Betting Bill: 25 Percent Tax, Creation of Kentucky Gaming Commission, No Integrity Fee  on SportsHandle.

How November Elections And A Court Ruling Will Impact Legal New York Sports Betting

Tuesday’s election results and a recent New York State Supreme Court ruling are both likely to impact the ability of state residents to soon enter a full-fledged, regulated sports wagering market, according to a New York legislator and a prominent local gaming attorney. 

New Yorkers have a “better than 50 percent chance” to be able to legally bet on sports in 2019, Democratic Assemblyman Member J. Gary Pretlow (89th District), told Sports Handle this week, despite the recent court decision that ruled part of the legislation legalizing Daily Fantasy Sports (DFS) was unconstitutional and would require voter approval in a statewide referendum.

Pretlow is the state lawmaker sponsoring a bill to legalize sports betting in the Empire State, and plans to bring it up again in the state’s next legislative session in January.

 

Read more How November Elections And A Court Ruling Will Impact Legal New York Sports Betting  on SportsHandle.

Key Sports Betting Lawmakers: Who Survived the Election, and Who’s Out

The post Key Sports Betting Lawmakers: Who Survived the Election, and Who’s Out appeared first on SportsHandle.

Besides the 36 gubernatorial races decided on Tuesday, the Nov. 6 elections will have an impact on the future of sports betting in some states. Several key lawmakers in states actively considering legalizing sports betting lost their seats or were term-limited out, while others retained their posts and may see their influence elevate.

In Indiana, two key legislators, Ben Smaltz, whose Public Policy Committee held an intensive hearing on sports betting last month, hasn’t filed legislation, but could be a key drive. So could Ron Alting, Smaltz’s Senate counterpart. Both held off Democratic challengers to retain their seats.

In Kentucky, Adam Koenig, who retained his seat with 55 percent of the vote, hasn’t filed a bill yet, but hosted a comprehensive hearinghttps://sportshandle.com/ky-lawmakers-closing-in-on-sports-betting-bill-to-pass-in-19-hone-in-on-final-key-issues/ in October and appears to have taken the point on sports betting in the Bluegrass State. And in Massachusetts, chairman of the Committee on Economic Development and Emerging Technologies Joe Wagner, who ran unopposed, is carrying the torch.

 

 
 

Read more Key Sports Betting Lawmakers: Who Survived the Election, and Who’s Out on SportsHandle.