The Gambler's Report: The New Jersey Billion

Christmas is under a week away and time continues to fly on the final few weeks of 2018. Shoppers around the US are scrambling to grab the perfect last-minute gift for loved ones. And while shopping may be near the top of many peoples list there is plenty to check out happening in the sports gambling world. The College Bowl season has officially kicked off as we make our way toward the playoff semifinal matchups.  The NFL has only two weeks remaining before playoff season begins. The NBA and NHL are pushing along thru there grinding regular seasons.  And New Jersey has is approaching a revenue milestone in their brief sports bookmaking history. We've all got a few last minute gifts to buy so let's dive right in and take a quick look around the industry in this week's Gambler's Report.

New Jersey Revenue

Despite only being open less than 6 months, the state of New Jersey is quickly approaching $1 billion dollars in sports betting action. Figures from last week show New Jersey's casino and racetrack-based sports books took in over $330 million worth of bets in November. The states overall number is $928 million since beginning in mid-June and has a chance to eclipse $1 billion before the New Year. 

The market is hot and only expected to grow as technology makes the process easier and more efficient.  Casinos and racebooks are packed on gamedays and crowds are only expected to grow as we approach the betting mecca known as the Super Bowl.  

Pennsylvania's Push

Two more casinos have started the test periods for sports betting hoping to get in on the action. The Rivers Casino in Pittsburgh and SugarHouse (great name) in Philadelphia started their test periods last week.  Hollywood Casino at Penn National Race in Dauphin County opened for sports betting last month, making Pennsylvania the 7th state to allow legal sports wagering.  

 

Intertops is the World's first online sportsbook. It's been around since the early 1980s and prides itself on being the first sportsbook to take wagers online. They have odds for nearly every sport imaginable including NFL, College Football, NBA, College Basketball, MLB, NHL, Golf, MMA and more! Check out Intertops review and find out more...

 

NBA Out Front

The NBA announced a multiyear partnership with international gaming operator The Stars Group (they run BetStars online sportsbook out of New Jersey and are hoping to get into Pennsylvania shortly). The Stars Group will have the right to use official NBA betting data, league marks, and logos across digital betting offerings. The partnership is the NBA's second with a gaming operator in the US market following this summers MGM Resorts deal that made them the official gaming partner of the NBA and WNBA. The NBA logo now hangs in the sportsbook at the Borgata in Atlantic City, New Jersey. 

Offshore Report

A quick look around the offshore industry show payout reports looking good.  Payouts are generally going out within stated timeframes.
 
One issue I did come across, was a player having a check bounce and the book giving him a hassle about reissuing said payout check. Paper checks are generally fine to withdraw with the exception that occasionally they have issues and are normally a time-consuming hassle to fix.  Want to avoid problems with other withdrawal options?  Then use BTC, while the currency itself is a little volatile for some it is still the cheapest and most efficient method of both withdrawing and depositing funds. 

That's all for this week and hope you have a wonderful holiday season filled with friends, family, and maybe a few winners.

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