New Jersey’s online casinos set a new monthly revenue record for the second consecutive month in February, with Golden Nugget once again leading the charge.
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All signs point to sports betting coming to New Jersey casinos and racetracks in the very near future.
The state has been trying since 2011 to make it happen. That’s when lawmakers passed a bill seeking to legalize sports betting at racetracks and casinos for the first time. Of course, professional and amateur sports leagues took the state to court and were successful in having the law struck down. But that didn’t stop the state from trying again in 2014.
Lawmakers passed a second bill aimed at legalizing sports betting. The leagues filed another lawsuit, and the courts struck down the NJ sports betting law for the second time. However, after a series of failed appeals, the state was successful in getting the Supreme Court of the United States to hear its case.
In December, New Jersey presented oral arguments against the Professional and Amateur Sports Protection Act (PASPA). PASPA is the federal law that makes sports betting illegal everywhere except Nevada. Of course, parlay bets in Delaware and game square wagering in Montana are also exempt. However, it’s PASPA that’s still standing in the way of legal and regulated NJ sports betting.
The thing is, the state presented some pretty strong arguments against what a lot of people believe is an unconstitutional ban on sports betting in the US. As a result, many believe that when the Supreme Court releases its decision sometime this spring or early summer, it will come out on New Jersey’s side.
The road to legal and regulated sports betting in the Garden State will be paved. The question is, where exactly will gamblers be able to place their bets?
Back in 2014, a sportsbook-style lounge was built at Monmouth Park racetrack in Oceanport. It was supposed to be the first place in New Jersey to take bets. However, the state could never find a court to rule in its favor.
It’s running as a sports bar now. However, the sportsbook at Monmouth Park could very well end up being the first place to take a legal sports bet in the state — even if it’s just for old times’ sake.
In fact, Monmouth Park CEO Dennis Drazin told NJ.com this past November the sports betting lounge, originally set up as a $1 million partnership with the track and British bookmaker William Hill could start taking bets within weeks after the decision.
Plus, he said Monmouth Park has plans to expand the lounge into a full-fledged Las Vegas-style sportsbook before long.
Other horse racing facilities across the state have long sought other sources of revenue to help keep the struggling industry afloat.
The Meadowlands Racetrack in East Rutherford backed a plan by Hard Rock International to build a $1 billion, 650,000-square-foot casino with 200 table games and 5,000 slot machines adjacent to the track in 2015. New Jersey voters said no to expanding casino gaming outside of Atlantic City in a 2016 referendum, killing the casino idea.
However, there’s clearly an interest in increasing gambling revenues at The Big M, and sports betting could be a good start for the facility.
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Visit Golden NuggetThere are currently seven casinos open and operating in Atlantic City. However, two more closed properties are expected to reopen this summer — Hard Rock AC and Ocean Resort Casino. It wouldn’t be a surprise to see each and every one start taking sports bets as soon as they can.
MGM announced last November it would be building a $7 million sportsbook at Borgata Hotel Casino & Spa.
Colorado developer Bruce Deifik is part of the group that is turning the former Revel property into the new Ocean Resort Casino. He announced in January they are making $175 million in improvements before opening in the summer of 2018. Part of that is the construction of a state-of-the-art sportsbook.
Once NJ sports betting actually becomes legal, other casinos are sure to follow.
Plus, gamblers may be able to place sports bets from just about anywhere they are inside the state using a smartphone, computer, or tablet connected to the internet.
Sports betting and online gambling laws may have to be tweaked to allow it. However, at least one software provider is anticipating that will be just a formality.
GAN powers the Betfair online casino in New Jersey. It is also getting ready to help launch Ocean Resort Casino’s NJ online casino. Plus, it recently inked a deal with SBTECH to introduce its sports betting technology to GAN’s online gambling platform.
Both sides have indicated they will be ready to take the first legal online sports bets once the market opens.
The Supreme Court has yet to rule in New Jersey’s favor. However, most stakeholders appear to be treating NJ sports betting like a foregone conclusion. The question of where has now been answered. The only question remaining seems to be when exactly the legal and regulated sports betting market will actually open.
The post Where Will You Be Able To Bet On Sports In New Jersey Once It’s Legal? appeared first on NJ Online Casino.
The NCAA college basketball tournament is buzzing along and generating a huge volume of wagers at Nevada’s regulated sports books. However, the casino industry as a whole is far more …
Prognosticating a Supreme Court decision? Many would term it a fool’s errand. Or perhaps “sucker’s bet” would be the more proper term in this particular case.
Yet an ever-increasing number of states apparently envision a trip to the pay window when the dust settles in Murphy vs. NCAA (formerly Christie vs. NCAA). The landmark Supreme Court case could culminate in the Professional and Amateur Sports Protection Act (PASPA) of 1992 being struck down.
Such a decision would allow states outside of Nevada to at least consider the implementation of legalized sports betting. For states that have already passed legislation, it would enable them to act on it as soon as they deemed fit
West Virginia became the sixth state overall to successfully pass a sports betting bill when S 415, which had been sitting on Gov. Jim Justice’s desk for five days, automatically became law on March 9.
The development is the culmination of a years-long history of the state’s support of both legalized sports betting and New Jersey in its ongoing case. West Virginia filed amicus briefs with the Third Circuit Court and State Supreme Court in 2013 supporting the Garden State’s position in its initial legal quest. It did the same with the U.S. Supreme Court in 2016 in the current case.
Some of the principal provisions of the West Virginia Sports Lottery Wagering Act are the following:
Unsurprisingly, the absence of an integrity fee is a point of contention for the sports leagues. Such a fee has been defined by the leagues as one percent of sports betting handle to fund an ongoing system that ostensibly ensures the sport’s games are not compromised by wagering. It’s been further labeled as a royalty for the value that the leagues’ games provide.
Major League Baseball commissioner Rob Manfred levied an array of criticisms at the bill pre-passage. Among them was that the legislation was one-sided. He expressed that it only took the gaming industry’s interest into account, as opposed to that of “all parties”.
Manfred served as the voice of opposition on the sports league’s side of the equation in the case of West Virginia. He actively lobbied through the local media for the inclusion of the integrity fee. He did the same with Gov. Justice, albeit without success.
However, his efforts may ultimately not have been for naught. This, despite the bill already becoming law. Gov. Justice issued a press release last Friday evening in which he clearly extended an olive branch to the major professional sports leagues by coming out in favor of further dialogue regarding the Mountain State working “in partnership” with them.
“After the U.S. Supreme Court issues its decision on sports wagering, to address any provisions of the legislation that might be in conflict, I will ask the Legislature to look at the advantages of partnering with the major sports leagues,” Gov. Justice said. “I believe there could be real value to this partnership. I expect the Supreme Court to rule on this issue in the next few months.
“This approach will allow us to develop a relationship with all the major sports leagues so that it is beneficial to everyone.”
Looking through a lens slightly less biased than Manfred’s, the West Virginia Sports Lottery Wagering Act seems level-headed in its pertinent aspects. Its aforementioned 10 percent tax on gross revenue certainly compares favorably to Pennsylvania’s 36 percent. Its $100,000 licensing fee is also dwarfed by the Keystone State’s $10 million point of entry.
The West Virginia Sports Lottery Wagering Act’s seemingly solid foundation and relative ease of passage through both chambers aren’t accidents. In fact, it seems largely a byproduct of the state’s years-long engagement with the subject of legalized sports betting. Moreover, it’s worth noting that the state took an extra – and pertinent – step in its due diligence.
Lottery Commission Director Alan Larrick commissioned renowned industry research firm Eilers and Krejick Gaming last September for a $160,000 study on the potential economic impact of legalized sports betting. That study revealed an eventual $34-$78 million potential windfall from sports betting tax revenues.
Notably, first-year estimates have placed the number at a much more conservative $5 million. The consensus seems to be that the 10 percent tax rate that would yield that figure is equitable. However, the math for gaming operators would change dramatically were the law eventually amended to require an additional payout to the sports leagues.
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The feds allege that a high-stakes poker player funded trips to the Aria and Bellagio casinos on the Las Vegas Strip through a ticket scam. A news release Thursday from …
Massachusetts is undertaking a first-of-its-kind multi-year gambling research project, and so far the results have been very interesting.
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Though he has appeared neutral to online gaming, former Atlantic City casino boss Donald Trump, who is currently the 45th President of the U.S., apparently let a top aide leave …
Is online poker dying in the U.S.?
The revenue numbers in New Jersey certainly suggest it may very well be. Although, some operators are trying everything they can to dig up the body and revive it.
In February, the shortest month of the year, New Jersey online gambling sites pulled in a record $21,992,124 in revenue. However, online poker represented just $1,772,988 of it.
Online gambling revenue numbers were up almost 18 percent over the same month last year. However, online poker numbers dropped more than 18 percent from February 2017.
The numbers were bad and the optics were worse. New Jersey online gambling continues to prove itself a great success. Online poker simply isn’t playing along.
PokerStars‘ NJ product continues to lead the sagging market. It pulled in just under $700,000 in revenue last month, representing an almost 40 percent market share. However, the numbers can’t be anywhere near what the world’s largest online poker site was expecting when it returned to the US market after a five-year hiatus in the Spring of 2016.
PokerStars has earned a worldwide reputation as the top site for online tournaments. It runs the biggest weekly tournaments and seasonal series in the industry. It regularly meets and exceeds even the loftiest guarantees. Except in New Jersey, where overlays have become a regular occurrence.
In fact, last month PokerStars NJ ran a 28-event Turbo Series online in the Garden State that failed to meet expectations and most of its guarantees.
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Visit WSOP NJThe $25,000 guaranteed Main Event drew 382 entries, creating a guarantee smashing $35,000 prize pool. However, close to half of the other events on the schedule failed to draw the number of players needed to meet guaranteed prize pool numbers.
The Winter Series PokerStars NJ rolled out a month earlier ran without overlays. So either the Turbo Series is just a blip on an otherwise rosy looking radar, or its a case of one step forward and two steps back.
Considering the direction overall numbers for online poker in New Jersey have been headed in lately, it’s more likely the latter. Unfortunately, that leaves PokerStars in the unenviable position of having to do something more than just than just lean on its worldwide reputation and roll out the standard tournament series its had success with elsewhere to help grow online poker in the Garden State.
However, with the two live events the company has run in Atlantic City since launch having both fallen flat, exactly what they can do to turn things around remains to be seen.
Caesars Entertainment‘s online poker network, including 888 Poker and its World Series of Poker-branded site, pulled in $546,736 in revenue in February. Borgata‘s poker sites, including Borgata Poker, partypoker NJ and the new playMGM Poker, pulled in $532,936.
However, WSOP.com will be attempting something new to try and spur growth in March.
The site will be hosting an online World Series of Poker Circuit gold ring event coinciding with the ongoing WSOP Circuit live event at Harrah’s Atlantic City.
The $365 buy-in tournament is set for March 18 and the hope is it will draw at least the kind of numbers a similar event just did in Nevada last month.
The first ever online World Series of Poker Circuit gold ring event drew 420 entries on WSOP.com Nevada in February, creating a $137,760 prize pool.
Interestingly, Anthony Spinella won it. The same Anthony Spinella who won the first ever online WSOP bracelet event in Nevada two years ago.
The WSOP’s online bracelet events have clearly proven to be some of the most successful tournaments in the history of legal and regulated online poker in the US.
The first $1,000 buy-in event in 2015 that Spinella won drew 905 players, creating an $859,750 prize pool. The next year it drew 1,247 entries and the prize pool cracked seven figures. In 2017, the $1,000 event drew 1,312 and the prize pool reached an even healthier $1,246,400.
Plus, WSOP.com ran two more bracelet events. It’s $333 buy-in event drew 2,509, creating a $752,700 prize pool. Plus, the $3,333 high roller drew 424 entries, creating a record-setting $1,335,600 prize pool.
These are the kind of numbers New Jersey operators would kill for.
Now the WSOP.com is preparing to run four bracelet events online during the WSOP this year. Plus, they’re getting ready to run this online WSOPC ring event in New Jersey this weekend. And the hope is, these are the kind of events that can start to breath some life back into online poker in the Garden State.
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