Brett Smiley from SportsHandle brings SBC Americas another round-up of the week’s big developments in US sports betting.
New Jersey Sports Betting Handle Skyrockets To $330M In November
The growing New Jersey sports betting market reached a new betting handle high in November — surging to $330.7 million, up from the previous high of $260.7 million in October, the New Jersey Division of Gaming Enforcement reported on Wednesday.
Online/mobile sports betting is driving the growth as November’s online handle reached $238.6 million, an increase of $64.2 million from October’s $174.4 million. But the sports bettors had their say in November, limiting revenue to $21.2 million on a 6.4 percent hold. New Jersey sportsbooks saw their best revenue month in September when they collected $24 million on a $184 million handle, for a hold of 13 percent.
Full story here.
Q&A: Why I’m Sticking With My ‘Local Bookie’
For some people located in states home to new legal sports betting markets, the post-PASPA era of wagering means business as usual.
One person located in Northern New Jersey, who spoke on the condition of anonymity to talk candidly, now has new legal sportsbooks in the palm of his hand, but is sticking with his guy for a variety of reasons.
Some factors that keep this 39-year-old man (we’ll call him “Jeff Bettor”) in the black market, such as a credit line, regulated markets will never be able to match. However there are other reasons that legal sportsbooks can consider as they collectively seek to migrate as much as the estimated $150 billion (some believe as much as $400 billion) wagered annually by U.S.-based bettors to legal markets in their respective jurisdictions.
Full story here.
Minnesota Lawmaker Planning To Introduce Sports Betting Legislation
Lawmakers from at least three states have filed sports betting legislation ahead of their 2019 sessions. A Minnesota state senator could well make it four.
According to the MinnPost, Senate Taxes Committee chairman Roger Chamberlain (R-District 38) said he has a rough draft of a sports betting bill that he’ll share around the state house in the hopes of crafting passable legislation.
Full story here.
NFL Draft Headed To Las Vegas, And League Wants A Gaming Partner
Four years after taking its premiere off-season event on the road, the NFL made its splashiest announcement about the draft yet. In 2020, the NFL Draft, which had been held in New York City from 1965-2014, will be in Las Vegas. After decades of shunning America’s gambling capital, the decision is the NFL’s second in two years to embrace Las Vegas. In 2017, the league voted to move the Raiders from Oakland to Las Vegas.
Full story here.
