Tag: new jersey sports betting

New Jersey Adds Additional 1.25% Tax on Sports Betting Revenue

Posted on | by Jill Dorson

Less than five months after New Jersey won the Supreme Court battle that allowed its casinos to offer sports betting, taxes are going up. According to the Press of Atlantic City, Governor Phil Murphy signed off on a 1.25 percent sports betting tax increase last week to benefit the state’s ailing Casino Reinvestment Development Agency. That brings the tax on net sports betting revenue to 9.75 percent at brick-and-mortar sports books and 13 percent on mobile and online sports betting.

For comparison, Nevada taxes its sports betting revenue at 6.75 percent, West Virginia at 10 percent and Mississippi at 12 percent. Sportsbooks haven’t opened in Pennsylvania yet, but the rate there will be 36 percent, while Delaware and Rhode Island (which expects to open for sports betting next month) effectively pay more a more than 50 percent tax rate under partnership programs with their state governments.

The CRDA will earmark the funds for “marketing and promotion.” According to the Press of Atlantic City, the additional tax from casino sportsbooks will be used to market Atlantic City specifically while the additional tax revenue generated from Monmouth Park and the Meadowlands Racetrack will be funneled directly to the towns in which the tracks are located.

Read more New Jersey Adds Additional 1.25% Tax on Sports Betting Revenue on SportsHandle.

Top New Jersey Regulator Calls Out Pro Leagues ‘Fear Mongering’ on Sports Betting

Posted on | by Brett Smiley

New Jersey Division of Gaming Enforcement Director (DGE) David Rebuck on Tuesday offered his blunt assessment of the NFL’s characterization of the state of sports betting in the U.S.: “Nonsense.”

The NFL’s stance, voiced again at House of Representatives hearing on Sept. 27, was that states legalizing sports wagering are now engaging in a “regulatory race to the bottom,” which Rebuck called “fear mongering” and “nonsense.”

Rebuck’s remarks came during a Global Gaming Expo (G2E) panel in Las Vegas alongside Pennsylvania’s Susan Hensel, Director of Licensing for the state’s gaming control board, and Matthew Morgan, Director of Gaming Affairs for the Chickasaw Nation. Rebuck’s criticism focused in part on the “integrity fee” as well as Major League Baseball and NBA’s efforts at compelling lawmakers to require state-licensed sportsbooks to use “official league data” for grading wagers, which he framed as fundamentally anti-business, and a mandate that New Jersey unequivocally will not implement.

 

Read more Top New Jersey Regulator Calls Out Pro Leagues ‘Fear Mongering’ on Sports Betting  on SportsHandle.

FanDuel to Pay Out on Erroneous Tickets

FanDuel to Pay Out on Erroneous Tickets

Posted on | by Jill Dorson

According to an Associated Press report, FanDuel will pay out more than $82,000 on an erroneous sports betting ticket. New Jersey’s Anthony Prince on Tuesday shared his story with local media, saying he placed an in-game wager on the Denver Broncos to beat the Oakland Raiders when the Broncos were down with 1 minute, 10 seconds to play. He placed his bet at the FanDuel Sportsbook at the Meadowlands, and the printed ticket showed +75000, when it should have showed -600. The cashier did not catch the error and after the Broncos won by a point on a last-second field goal, Prince tried to collect.

Initially, FanDuel declined to pay Prince, but after investigating, on Thursday announced that it would make good on not only Prince’s bet, but on several others made during the same time span.

The company reportedly decided to pay because it said “sports betting is supposed to be fun.”

According to FanDuel, the ticket that should have been generated would have shown that Prince had to bet $600 to win $100. Instead, his $110 bet is now good for a total payout of $82,610. On Sunday, when FanDuel declined to pay on the ticket, it reportedly offered Prince $500 and tickets to several NFL New York Giants games, but he declined. The company then opened an investigation, though its rules clearly state that erroneous tickets will be paid out at the “correct odds.”

Read more FanDuel to Pay Out on Erroneous Tickets on SportsHandle.

Examining The FanDuel Sportsbook Ticketing Snafu Through The Eyes of Nevada

Posted on | by Brett Smiley

The post Examining The FanDuel Sportsbook Ticketing Snafu Through The Eyes of Nevada appeared first on SportsHandle.

Sports bettors in emerging markets are continuing to discover some of the vagaries of sporting wagering. Among them are situations when an “accepted” bet may not always be a bet, and what happens to a “wins/losses” totals bet if a team ends up with a postponed game that’s not rescheduled.

FanDuel Sportsbook, operating at The Meadowlands Racetrack, has refused to honor a $110 live betting ticket on the Broncos to defeat the Raiders on Sunday — a wager that would have paid more than $82,000. The company says the extremely large odds on the bet were caused by an error in the oddsmaking process. “The wager in question involved an obvious pricing error inadvertently generated by our in-game pricing system,” a FanDuel spokesperson said in a statement. 

The bettor, who identified himself to News 12 New Jersey as Anthony Prince, made his wager over the counter at the sportsbook at the Meadowlands with Denver trailing the Raiders 19-17 late in the fourth quarter. The Broncos then arrived comfortably in field goal range, especially given the high altitude in Denver, when Broncos QB Case Keenum completed a pass down to Oakland 18-yard line. However, as FanDuel updated the live betting odds to reflect Denver as a -600 favorite the company says an error in the live-odds feed caused the Broncos to be posted as 750-1 (+75,000) underdogs to win the game. 

 

Read more Examining The FanDuel Sportsbook Ticketing Snafu Through The Eyes of Nevada on SportsHandle.

NJ Man Says FanDuel Won’t Pay; Company Investigating

Posted on | by Jill Dorson

The post NJ Man Says FanDuel Won’t Pay; Company Investigating appeared first on SportsHandle.

A New Jersey man says he made a wager on Sunday at the FanDuel SportsBook at the Meadowlands Racetrack and that FanDuel won’t pay up. The bet, an in-game wager, would have paid $82,610 on a $110 wager and was made with 1 minute, 10 seconds remaining in the Denver Broncos-Oakland Raiders contest.

According to a report from News12 in New Jersey, FanDuel says the ticket was a glitch and is looking into the matter. But the bettor, Anthony Prince, is all but demanding FanDuel pay out immediately.

“They said their system had a glitch in it and they’re not obligated to pay for glitches,” Prince told News12. “The other guy said, ‘You should take what we give you because we don’t have to give you [anything] at all.’ I said, ‘Wow, for real?’”

 

Read more NJ Man Says FanDuel Won’t Pay; Company Investigating on SportsHandle.

New Jersey Sports Betting Generates $9.2M Revenue on $95.6 Handle In August

Posted on | by Brett Smiley

The post New Jersey Sports Betting Generates $9.2M Revenue on $95.6 Handle In August appeared first on SportsHandle.

The New Jersey Division of Gaming Enforcement on Wednesday released its monthly revenue figures, reporting a total handle of $95.6 million and gross revenue of $9.18 million for the sportsbooks across the seven licensed NJ sportsbooks that reported on the month’s operations.  

That’s a hold or win percentage of 9.6. The August report includes for the first time dollars connected to online sports betting, which produced a total of $2.97 million on a $21.7 million handle, or an online hold (win percentage) of roughly 15 percent. The vast majority of both figures are attributable to the DraftKings Sportsbook — meaning DraftKings alone accounted for almost exactly one-third of the monthly revenue.

 

Read more of New Jersey Sports Betting Generates $9.2M Revenue on $95.6 Handle In August on SportsHandle.

New Jersey Gets Seventh Mobile Betting Option With 888sport’s Launch

Posted on | by Brett Smiley

The post New Jersey Gets Seventh Mobile Betting Option With 888sport’s Launch appeared first on SportsHandle.

Add the European-based 888 brand to the red hot sports and online gambling market in New Jersey in a move further integrating sports betting with online casino gaming.

888 Holdings is based in Gibraltar and listed on the London Stock Exchange. The company announced today (Monday) that it has set up its first 888 sport brand in the New Jersey, clearing the way for growth in other U.S. markets as they become legal.

Continue reading New Jersey Gets Seventh Mobile Betting Option With 888sport’s Launch on SportsHandle.

FanDuel Sportsbook And William Hill Mobile Apps Soft Launch in NJ

Posted on | by Brett Smiley

Both FanDuel and William Hill debuted their online sportsbooks this past weekend in soft launch phases as the NFL regular season kickoff nears on Thursday, Sept. 6. These trial launches came after the companies received authorization to run a five-day testing period by the New Jersey Division of Gaming Enforcement, according to the Associated Press.

During the trial phase, Sports Handle was able to deposit and observe the FanDuel Sportsbook web platform, but was unable to download the mobile app. The William Hill mobile/online sportsbook is currently operating only on Android for now and was not available for download during a period of “restricted opening hours.”

The post FanDuel Sportsbook And William Hill Mobile Apps Soft Launch in NJ appeared first on SportsHandle.

PlaySugarHouse.com Launches N.J. Online Sports Betting Platform

Posted on | by Jill Dorson

The post PlaySugarHouse.com Launches N.J. Online Sports Betting Platform appeared first on SportsHandle.

PlaySugarHouse.com has now launched an online sports betting platform for New Jersey sports bettors  significant in that it integrates the new sports wagering opportunity for state residents with its already operating online casino. This also makes the mobile/online sports betting platform the third available in New Jersey, on the heels of MGM’s Wednesday release of the Android version of its playMGM NJ Sports app through the MGM-owned Borgata in Atlantic City.

New Jersey gambling regulators had approved the site to go live Thursday morning and the company said it was taking sports wagers as of 6 a.m. 

The SugarHouse Online Sportsbook & Casino is the first online sports betting site operated under the aegis of the Golden Nugget Atlantic City, which has an online and fully licensed affiliation with Philadelphia’s SugarHouse Casino. The site is operated by Rush Street Interactive (RSI), the SugarHouse parent company.  RSI is also partnered with the Malta-headquartered sports betting supplier Kambi, which previously helped launch the DraftKings Sportsbook, which on Aug. 6 was the first online sportsbook to go live in New Jersey.

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MGM Drops Mobile Sportsbook In New Jersey With Borgata’s PlayMGM App

Posted on | by Brett Smiley

On Wednesday after two-plus weeks of waiting, the MGM-owned Borgata’s playMGM app will give company to the DraftKings Sportsbook, which had fully launched on August 6 and remained the only online sports betting app available in New Jersey.

But wait no more: the playMGM app is available now to New Jersey-based Android users. “The playMGM NJ Sports app is being initially soft-launched on the Android platform, with an iOS version due to launch imminently,” said MGM Resorts International in a statement coinciding with the app’s release. “Through our partnership with GVC Holdings, our mobile betting operations in New Jersey will be delivered on a best-in-class mobile platform that positions us as a leader in technology, accessibility and sports betting expertise” added Scott Butera, MGM Resorts International President of Interactive Gaming.

After zipping around the platform a bit from here in New Jersey, what follows is some initial impressions, notes on what you can bet and some odds and ends.

MGM’s New Jersey Online Sportsbook Available Through Borgata’s and playMGM App Ahead of Football Season

mgm online betting app nj legal sportsbooks

So what can patrons wager on? A lot.

There’s straight bets, futures, props, and parlays all available. The professional (NFL) and college football menus are queued up with a wide variety of different player and team props, futures and totals, such as:

  • Most regular season losses by any NFL team: o/u 13 (-110)
  • Deshaun Watson regular season touchdown passes o/u 26.5 (-110)
  • Kareem Hunt regular season rushing yards o/u 1099.5 (-110)
  • Regular season points by Philadelphia Eagles o/u 404.5 (-110)
  • Will the Texans make the playoffs?  Yes -130, No +110
  • Which two teams will make the Super Bowl? For example, Steelers/Saints is 50-1
  • Will Grier (West Virginia) regular season passing touchdowns: o/u 35.5 (-110)
  • Regular season wins by Nebraska 6.5 (o/EV, u -120)

What can’t folks wager on for now?  So far I did not find live or in-play wagering options on playMGM. It’s possible I’m missing them or they simply may not have been introduced yet. 

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