For novice sports bettors who want to dip their toes in the gaming pool, but don’t have a good understanding of odds, moneylines or spreads, DraftKings has a new product that essentially dumbs down sports betting to the office-pool level.
The Boston-based company rolled out the new product on Thursday, the company’s “DraftKings Sportsbook Pools,” a simplified way to bet that mimics those NCAA office pools that blanket the nation in March. The product was made available to New Jersey bettors this morning. According to a company press release, the Sportsbook Pools games will allow less experienced bettors an opportunity to play without having to understand the intricacies of sports betting.
“Millions of Americans have been playing in sports pools for years with their friends and coworkers, and now one of the most popular ways that fans can get ‘skin in the game’ is live on DraftKings Sportsbook,” said Matt Kalish, Chief Revenue Officer and co-founder of DraftKings. “DraftKings Sportsbook Pools features simple predictions, such as picking the winner of each NFL game weekly, combined with the potential to win jackpot-style prizes.”
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.
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.”
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.
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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