Two mainstream sports media journalists with an interest in gambling turned a few heads recently by exploring the topic of the New Jersey mobile sports betting sites refunding losing bets.
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As the keynote speaker Wednesday at the American Gaming Association’s Sports Betting Executive Summit at MGM National Harbor, Christie was introduced by AGA CEO Bill Miller as “the reason why we are all in this room.”
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While the gambling action is usually cold in a typical Atlantic City February, this year’s profit surge was aided by online gambling and sports betting action.
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The first weekend of March Madness betting is in the books. There are still four rounds to go, including the Final Four in Minneapolis.But it’s clear, based on the early numbers, NJ bettors are liking what the mobile online sports betting platform offers.
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According to various sources, the consistency of the market will eventually help the state to surpass Nevada as the largest legal sports betting market in the United States.
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While many are flocking to lounges at racetracks and casinos, far more are not. In 2019, online betting has accounted for $4 out of every $5 bet in New Jersey.
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In a civil action order dated March 9th, the New Jersey Division of Gaming Enforcement imposed an $81k financial penalty on bwin.party entertainment (NJ) and its land-based partner, MGM Resorts’ Borgata Casino Hotel, for permitting individuals who’d self-excluded from the companies’ online gambling sites to gamble online.
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New Jersey’s sports betting law allows for mobile sports betting — there are now more than a dozen legal options in the state via a smartphone or computer — so any sports bar can be a fan’s virtual sportsbook. But how many will prefer to go to Monmouth Park, or the other brick-and-mortar options?
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Atlantic City showed continued growth last month, according to a Division of Gaming Enforcement report for February. Gains in casino, sports betting and internet gaming revenues have built upon last year’s gains in revenue, high employment numbers and increased tourism, the DGE report said.
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Nearly $2 billion has been wagered on sporting events in New Jersey in the nine months since such betting became legal last year.
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Although New Jersey has been liberal with its sports gambling regulations, it is still prohibited for sportsbooks to allow bets on college-level sporting events. Some operators have already gotten in trouble after they were found to have allowed wagers to be placed on several off-limits college games.
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Tropicana Atlantic City held the grand opening of its new permanent sports book Friday. A ceremony took place at 1 p.m. to announced the William Hill Sports Book, located on the North Tower casino floor adjacent to Chickie’s & Pete’s Crab House & Sports Bar.
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