We finally had our first full weekend of gridiron action as week 2 on the college scene flew by while the NFL had its official week 1 kickoff when the Eagles narrowly defeated the Falcons in an otherwise ugly game. Major League baseball is now under 20 games before reaching the postseason and the words magic number are being tossed around often. And the wave that is legalized sports betting in the United States continues to become widely accepted as it seems everywhere I look someone is covering or talking about sports betting. Let's dive right in for a quick look around the industry in this week's Gambler's Report.
Show Me The Money
Early reports show West Virginia netted approximately $320,000 during its first weekend with legal sports betting. The Hollywood Casino at Charles Town Races was the first to begin taking bets. West Virginia Gaming and Racing Association President John Cavacini has indicated that additional venues are set to follow suit shortly.
And in a long going matter, the state of Pennsylvania still has yet to legalize despite having laws on the books since October. The Pennsylvania Gaming Control Board currently has two applications pending but does not intend to review and vote until at least October. Too many politicians and hands involved and I can only imagine what goes on behind closed doors. The beginning of football season is huge for books and this state is really dropping the ball on this endeavor here.
Show Me More Money
A recent Nielsen report projects the NFL could make over $2 Billion dollars annually from a fully mature US gambling market. Yes, that is billion with a B. Take it for what it is worth as the report was commissioned by the American Gaming Association, the trade group that represents the gambling business. These numbers were arrived at primarily by a survey of fans and assuming increased media deals with increased interest, sponsorships, and purchases of official data.
The report does not factor in "integrity fees". Sara Slane, the Senior VP of public affairs for the AGA states "So much time has been spent on talk over integrity fees. We think these numbers are conservative and show that the league is frankly tripping over dollars to pick up pennies." It's a valid point and hopefully, the leagues will see that and drop the integrity fee.
A quick look around a few industry payout reports shows everything going as planned generally within stated time frames. Large shops and smaller bonus shops appear to be firing on all cylinders as the start of football is generally a very deposit heavy time of year for them. Bitcoin remains the fastest method for both deposits and payouts with most being quoted within hours instead of days or weeks.
Still, plenty of bonus dollars out there for grabs as books are still vying for that football deposit money. Make sure you check around to get the best bang for your buck if you are going to be depositing anyway. And as always, when looking to deposit, please make sure you do your homework on any terms that may be attached to a bonus and the book itself. You want to sweat your bets not whether you will get paid your winnings.
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