Beat the Streets New York raised more than $1.3 million with its 13th Annual Benefit on Saturday at Prudential Center. BTSNY also set an attendance record for its Annual Benefit and Final X with more than 8,000 fans.
For a second straight year, Final X served as BTSNY’s benefit with 29 athletes claiming a spot on Team USA for the 2023 Senior World Championships in Belgrade, Serbia, Sept. 16-24.
Among the men’s freestyle winners were 2016 Olympic champion Kyle Snyder (97 kg), and 2020 Olympic champions Gable Steveson (125 kg) and David Taylor (86 kg), and 2020 Olympic bronze medalist and four-time World champion Kyle Dake (74 kg). Two notable upsets occurred as Zane Richards (57 kg) topped 2021 World champion and 2020 Olympic bronze medalist Thomas Gilman, and Chance Marsteller (79 kg) dethroned 2016 Olympic champion and six-time World champion Jordan Burroughs.
In women’s freestyle, 2020 Olympic silver medalist and six-time World champion Adeline Gray (76 kg) won just 10 months after giving birth to twins. World champions Jacarra Winchester (55 kg), Dominique Parrish (53 kg) and Amit Elor (72 kg) also claimed victories.
Two 2020 Olympians led the 10 Greco-Roman winners, as Ildar Hafizov (60 kg) and Alejandro Sancho (67 kg) emerged victorious.
“Moving our benefit to Prudential Center was a big factor in making this our largest event, with $1.3 million raised,” said Brendan Buckley, Executive Director of Beat the Streets New York. “The funds raised during this event enable our programs to operate year-round and continue to make a lifelong impact through wrestling on New York City student-athletes.”
It is the second time the benefit has been held in New Jersey after a virtual event in 2020 in Hoboken. BTSNY held its Annual Benefit at the Theater at Madison Square Garden in 2019 and 2022, and previously at other historic New York locations. The benefit events help BTSNY raise at least $1 million each year to support youth wrestling programs that empower young people in New York City. To provide contributions to BTSNY, visit btsny.org/donate.
For full match results, visit https://www.teamusa.org/USA-Wrestling/Features/2023/June/10/Final-X-results.
FanDuel Group is expanding its FanDuel Casino offerings in New Jersey and Michigan. FanDuel Group announced today the official launch of its FanDuel branded, standalone FanDuel Casino product in New Jersey on iOS, Android and desktop. In Michigan, FanDuel Casino customers can now enjoy live dealer games from Evolution.
FanDuel Casino was initially offered exclusively within the FanDuel Sportsbook app in New Jersey. With the addition of the standalone FanDuel Casino product, customers living in, or visiting, New Jersey now have a dedicated online casino experience that is secure, legal and fully regulated. The standalone FanDuel Casino app will feature casino game staples like blackjack, roulette, video poker and a multitude of recognizable slots and fan-favorite games from the casino floor. Players will receive the same customer support, convenience, safety and security that customers have come to expect from FanDuel, while making it secure and simple for customers to cash out winnings. FanDuel Casino will still be available within the FanDuel Sportsbook app, and new casino players can either signup for a Casino account or use their existing FanDuel Fantasy or Sportsbook account to log in and play. New FanDuel Casino players can play their first day risk-free up to $1,000.
FanDuel Casino is also expanding in Michigan. FanDuel Casino has added live dealer blackjack, roulette and baccarat games for customers living in, and visiting, the state of Michigan. The live casino games launched this past Thursday, July 22, after approval from the Michigan Gaming Control Board. Live dealer casino games give players the social interaction of a casino with the convenience of playing from home.
FanDuel Casino is available today on iOS, Android and desktop in New Jersey, Pennsylvania, Michigan and West Virginia.
New Jersey’s online sportsbooks more than doubled the state’s combined handle in May, but still fell short of an ordinary May by nearly $400 million, according to PlayNJ estimates. This while online casinos and poker rooms continue to boom, buoying the Garden State’s gaming industry.
“May’s increase is a positive sign, but until major professional sports resume and Atlantic City casinos reopen, the gaming industry will look nowhere near normal,” said Dustin Gouker, lead analyst for PlayNJ.com. “But optimism can be found with DraftKings, which has become a darling of Wall Street since it became a publicly traded company. That shows just how much confidence investors have in the future of sports betting.”
New Jersey’s online sportsbooks managed to boost the state’s monthly handle to $117.8 million, up 115.8% from $54.6 million in April, according to official reporting released Friday. But May’s handle is down 63.1% from $318.9 million in May 2019 and still well short of the more than $500 million in bets that would have been made in an ordinary May, according to PlayNJ estimates.
May’s bets produced a surprising $9.9 million in gross revenue — more than tripling the $2.6 million in April 2020 — yielding $1.3 million in state taxes.
Sports categorized as “other” than football, basketball, and baseball generated $95.4 million in bets in May, up from $88 million in May 2019.
“The bottom-line sports betting numbers aren’t pretty, but there is a silver lining in how online sportsbooks have managed to survive these shutdowns,” said Eric Ramsey, an analyst for PlayNJ.com. “New Jersey’s operators have been creative in keeping bettors engaged and sportsbooks generating revenue, even when fringe sports are the only real attraction. Thanks to some imagination, it appears online sportsbooks will help the industry get through this.”
Without retail sportsbooks, online sportsbooks were the only revenue generator for the state. FanDuel Sportsbook/PointsBet led the market with $4.3 million in gross revenue.
“We are just starting to see the light at the end of the tunnel,” Gouker said. “Retail sports betting will take time to return to something resembling normal. But the path to recovery for online sportsbooks is simple: Sports need to come back. That is finally starting to happen.”
Meanwhile, online casinos and poker rooms rose to a new monthly record in May with a combined $85.9 million, up 7.5% from the record $79.96 million in April and up 134.7% from $36.6 million in May 2019.
Online casinos and poker generated a record $2.8 million per day during the 31 days in May, up from $2.7 million per day in April. That revenue yielded $12.9 million in state taxes. The Golden Nugget’s dominance of the market continued with $29.1 million in revenue, up from $27.6 million in April.
“Land-based gambling revenue almost certainly won’t return in June, and it will take some time to recover even when it does come back while Atlantic City casinos presumably navigate reduced capacity and relatively weak tourism demand,” Ramsey said. “Because of that, online casinos will be relied upon to bridge the revenue gap, even once land-based casinos reopen. Even if that online revenue can’t replace what has been lost from the shutdown, the overall gaming industry would be in much worse shape without it.”
The following is an interview with Senator Lesniak, from BonusSeeker.com.
The entire sports landscape has been flipped on its head for an undetermined amount of time due to the COVID-19 outbreak across the United States and as a result, the pandemic’s impact can be felt everywhere including the betting industry.
In the college basketball world, March Madness and the 2020 NCAA Tournament are no more, and flying away with them is the opportunity to shine a light on a seldom discussed issue with sports betting in New Jersey.
From the time it was signed into law in June 2018, legal sports betting in the Garden State has been a massive benefit for all parties. The huge population of fans gets the chance to wager on sports using regulated sites, the operators generate huge amounts of revenue, and in turn, plenty of tax dollars go to the state.
New Jersey features a wide range of sportsbooks to choose from, many with a seemingly never-ending catalog of betting markets that span a huge number of sports. All of this is why it has become the blueprint for every other state entering the market over the past year-and-a-half.
But there is one thing you won’t find at any sportsbook in New Jersey: the ability to wager on collegiate teams located in the state.
This topic finally had a shot to come into full view with both of the state’s prominent Division I athletic programs, Seton Hall and Rutgers, headed to the 2020 NCAA Tournament this year. The unfortunate cancelation of this year’s event means the Garden State’s only blemish when it comes to online sports betting wouldn’t have the chance to reach the forefront of our collective consciousness unless somebody put it there.
Why Would This Matter During March Madness?
Under New Jersey law, sportsbooks aren’t legally allowed to offer lines on college games that involve schools located inside the state. Collegiate events being played inside Garden State borders, even if none of the teams involved are from Jersey, are also off-limits.
The measure seemingly hasn’t mattered much to this point, mainly serving as evidence of a legislative concession made before the original bill was passed in 2012. But the truth remains that the ban on local teams negatively impacts sports betting in New Jersey from both a financial and a customer-experience point of view.
Part of the reason why this precondition has been largely ignored is that there haven’t been many high-quality athletic programs inside the state that bettors wanted to put their money on in any serious way.
As the 2019-20 season played out, that was no longer the case. Seton Hall earned a top-10 ranking this season for the first time in two decades while Rutgers was going to the NCAA Tournament for the first time since 1991. The Pirates and Scarlet Knights were each having huge seasons which included bids to the Big Dance and fans of both programs wanted to wager on their favorite teams during March Madness, but couldn’t.
For a minute, let’s imagine a utopia where the 2020 NCAA Tournament was still played as it was intended just a couple of weeks ago. As a result of the current law, New Jersey could be missing out on a chance to make even more in tax dollars, which can directly benefit people in the state via the government programs that this money goes toward.
If there is any flaw in the sports betting law in the Garden State, this is it.
Collegiate Sports Betting Ban Was Practical, Not Preferred
The current policy wasn’t the original intention of New Jersey lawmakers but as former Senator Raymond Lesniak put it, “it was a matter of practicality that it turned out that way.”
To understand how this compromise wound up in place, context is important. Luckily I had a chance to speak with Lesniak, who authored and introduced the pioneering bill that would not only bring sports betting to his state, but play a huge role in the fight that eventually led to the federal repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018.
Lesniak’s book, Beating The Odds: The Epic Battle That Brought Legal Sports Betting Across America, chronicles in great detail the years-long fight against the hypocrisy of both the federal government and professional sports leagues. Lesniak will enter the Sports Betting Hall of Fame this year to cement a well-earned legacy as someone who helped regulate the industry and laid the groundwork for it to flourish as it is today.
For now, let’s go back to 2011. After drafting his legislation, Lesniak’s top priority was making sure that regulated sports betting in New Jersey could make its way into law while opponents such as basketball Hall of Famer and former Senator Bill Bradley were actively trying to derail its passage.
“It was a political choice I made to make sure that we got the referendum through the legislature and passed by the voters,” Lesniak explained to Brian Sausa of BonusSeeker. “We weren’t clear that we would be able to get the votes in the legislature to put the referendum on the ballot.”
In order to quiet the noise and avoid the type of blowback that could kill the legislation, Lesniak decided losing a battle was worth winning the war. As it turns out, throwing Bradley (who led the charge to pass PASPA in the first place) and other opponents a bone in order to make sure the bill reached the voters was the right move.
Lesniak’s legislative efforts led directly to the passing of the Sports Wagering Act on two separate occasions (2012 and 2014), the latter of which granted casinos and racetracks the right to offer sports betting without licensing and regulation from the state.
In the wake of the repeal of PASPA (which had been in place since 1992) in June 2018, the legalization of sports betting in New Jersey has brought exactly the type of financial windfall that Lesniak expected it would several years before it came to fruition.
The first full year of regulated betting in New Jersey was 2019 and it saw the state take in over $4.5 billion in wagers, which produced around $300 million in revenue. After inserting a 9.75 percent tax rate for in-person bets and a 13 percent rate for mobile wagers, that means that over $36 million went right to state and local governments in taxes.
Once you lay out the numbers from all the sports combined, it’s easy to see why Lesniak and other sports betting proponents were ultimately fine with acquiescing to cut this tiny group of New Jersey teams from the equation.
But just because this was an understandable deal to make doesn’t mean that even Lesniak believes everything about the way betting laws are written in New Jersey is perfect.
Former NJ Senator: Betting Doesn’t Hurt Integrity Of Sports
Those against the passage of sports betting legislation cited integrity as a concern and wanted contests featuring in-state teams left off the board entirely. The weather on the moral high ground might be nice but this is not the hill to die on, metaphorically speaking.
On the surface it seems like a legitimate worry, especially considering the point-shaving scandals that have marred the image of the NCAA for decades since the 1950s. But in reality, the argument holds little water. And if you don’t believe me, take it from the man who wrote the bill.
“I would have preferred to have included college sports teams [in New Jersey],” Senator Lesniak admitted. “I don’t believe it’s a threat to the integrity of the sport, that’s why I sponsored it in the first place.”
What Lesniak and others fought for is completely lawful betting regulated by the state government. Previous attempts to compromise the integrity of college athletics were largely undertaken by organized crime syndicates gaining access to players as part of an unregulated underworld of illegal activity. The two really aren’t comparable, though Bradley may disagree.
To be very fair, it wasn’t only one person clinging to this perspective, as Lesniak had other opposition to worry about as well. “We thought it would be a focal point for the NFL and the NCAA to wage a campaign against it,” the Senator said in reference to allowing wagering on New Jersey schools.
If you’re wondering just how bad the threat posed to NCAA athletics by sports betting is, let us help you. There is so little credence given to the integrity argument that after operations in New Jersey launched, almost every other state passed sports betting legislation while allowing wagers on in-state collegiate teams.
So when push comes to shove, integrity never was and still isn’t an issue when it comes to regulated gaming. Unfortunately, Lesniak doesn’t see a scenario in which this law is amended to include wagering on programs that play in New Jersey.
“I do not believe we’re going to move to change it because it would isolate that issue before the voters and I think it’s a tough issue to argue isolated from the rest. So we’re going to let Pennsylvania get the benefit of betting on Rutgers to win the Big Ten Tournament,” quipped Lesniak, a Rutgers graduate and longtime supporter prior to March Madness being shut down.
Would NJ Have Missed Out On Sports Betting Revenue During March Madness?
We know that comparatively, the money made from just a few local schools would be a drop in the bucket next to the full-on tsunami of dollars rolling in from all of the other betting options that are offered in the state. With that said, the fact remains New Jersey would still be leaving money on the table.
So yes, it would have missed out on revenue even though March Madness is a cash cow as-is, it’s just a question of whether or not it would have been enough for anyone to notice.
One question worth asking might be: with part of sports betting tax money going toward social services, education, and other government programs, is there really any amount of money too insignificant?
Perhaps 30 regular-season games plus conference tournaments aren’t enough to turn any heads. But what if Rutgers, a team which excelled in the country’s best conference, made it deep into the NCAA Tournament this year?
What if Seton Hall, a likely top-three seed capable of a run to the Final Four, had made it all the way to Atlanta? Suddenly, it would have been a much larger faction of the betting population that is turned away as opposed to just fans of those two programs.
Perhaps what nobody wants to say out loud is that there simply isn’t enough of a financial impact made by the inclusion of just a few schools, even if the majority of their fans are residents of the state.
There isn’t really a way to quantify the amount necessary to ignite the questions needed to amend the law but one can’t help but feel as though if there was enough money to be made off allowing bettors to wager on New Jersey teams, the powers that be may start to see things differently.
We should also remember that since its foray into the gaming world, no arena in New Jersey has been chosen as a host site for any NCAA Tournament games, another thing that could also produce a significant amount of money for the state.
With an amendment to the law, however, the Garden State could have its cake and eat it too. It could host a series of March Madness events to a sold-out arena while making those games available for betting, both of which the state and its resident sports fans would benefit from.
How About Improving Customer Experience In New Jersey?
While the industry is currently in a standstill, betting in the Garden State has been unmistakably prosperous. And quite simply, the only reason New Jersey has experienced such a financial boon in such a short time is because of the bettors.
If people didn’t download the app to wager or show up to the window at one of the state’s casinos, there would be no revenue or taxes to be collected. Feels like a pretty simple concept, no?
Even though there are tons of betting options, college sports are hugely popular and the law doesn’t do everything it can to help the experience of the people that essentially raised $36 million in new tax dollars in 2019. As one New Jersey resident and Seton Hall fan told us, some don’t quite understand the game of geographical gymnastics that they’ve been forced into.
“I don’t feel like I should have to drive an hour, or 90 minutes, or two hours to place a bet when I only live a couple miles from the arena where they play all the games,” Brian Flynn explained. “So I don’t really get why it’s like this, why wouldn’t you want people to bet more?” he asked.
It’s a great question. The word ‘fan’ is short for fanatic, so it makes sense that people love to wager on the teams they root for. It’s part of human nature to feel like your favorite school is going to win and for many casual bettors, wagering on your own team enhances the game-watching experience. And when a fan’s team is achieving success, many fans will continue betting on that team regularly.
But without the option, New Jersey is watching other states walk off with money from its residents, just as offshore sportsbooks were doing not so long ago.
Is It Time To Consider Amending Sports Betting Law?
As a frequent sports bettor who places his wagers legally in New Jersey, the prohibition on local teams is something that has never sat well with me.
So when I spotted a high-ranking official from the New Jersey Department of Gaming Enforcement leaving the 2019 Sports Betting USA Conference in Manhattan, I opted to approach him and his colleague, another important DGE employee.
I lightheartedly remarked that the state may have to take a look at some of its rules if an in-state school like Seton Hall or Rutgers made a postseason run in basketball or football postseason due to the money that could potentially be made or lost.
Both men grinned and chuckled momentarily but didn’t seem to make much of the thought, probably imagining the farfetched likelihood Rutgers’ bottom-of-the-barrel football program going to the College Football Playoff. That remains unlikely, and it’s not as though the Scarlet Knights or Seton Hall has been historically considered a basketball powerhouse of any kind, either.
A few short months later, however, and there’s little to laugh about. This precondition was necessary at the time and sports betting in New Jersey may not exist without it, but now it’s 2020 and New Jersey’s teams were about to play a significant role in March Madness. So you’d have to excuse fans and bettors in the state for not getting the joke.
New Jersey would be missing out on opportunities to pull in more tax dollars while providing a service many residents desire because of an antiquated compromise that doesn’t even protect the integrity of the sport. The entire exchange reminded me of an excerpt from Lesniak’s book, where he references DGE director David Rebuck proclaiming his goal was to make New Jersey the top market for sports betting in the country.
The Garden State has gone a long way toward achieving this goal, passing incumbent Nevada in monthly handle and revenue in May 2019 for the first time, just a year after betting was launched. In fact, in the 13 months from June 2018 to September 2019, New Jersey pulled in nearly $9 million more than Nevada in tax revenue.
Things are indeed going very well as a whole, but wouldn’t it be wise to tap all available resources and exhaust all revenue-generating options? Perhaps then, it would be just a little bit easier to attain the ultimate goal of staying on the industry mountain top.
Once things make dollars, they seem to make sense, and this has been the case with sports betting all along. For the very first time, it’s possible that allowing betting on collegiate teams and sporting events in the state could help generate revenue for New Jersey. And it’s time everyone starts paying attention.
Diehard sports fans may not have action on the tube to check out, but they can still show off their expertise thanks to BetMGM. Its all new Free to Play Quiz is live for BetMGM NJ and BetMGM Indiana users. Players can compete for daily prizes up to $500 by answering sports and pop culture questions correctly. We’re working closely with state regulators in West Virginia and are hoping to be live in the state in the coming days.
How it works: Every day BetMGM will feature a new category consisting of 10 questions, with a 10 second clock. As long as they answer the question right, users will be able to keep playing for the day. One incorrect answer and your game ends. Answer every question correct and compete for a daily prize of up to $500 (prize to be split amongst all trivia winners). The quiz is available daily between 9am and 11:59pm ET. Players can only participate once per day, with the quiz leaderboard changing each week. Your total amount of correct questions answered throughout the week (Monday to Sunday) will automatically qualify you for the weekly leaderboard. Earn 1 point for every question you’ve answered correctly. The Top five (5) each week will receive an additional cash prize.
· One week leaderboard (Monday-Sunday)
· Players receive one leaderboard point per question they answer correctly
· Leaderboard Prize Payout (split amongst all top scoring users)
New Jersey’s sportsbooks and online casinos performed in December in much the same way they spent the rest of 2019: With new records and more growth. Retail and online sportsbooks combined with online casinos and poker to generate nearly $800 million in revenue in 2019, sending New Jersey into 2020 with plenty of momentum, according to PlayNJ.com analysts.
“Online sports betting and casino gambling should continue on or near its current growth trajectory in 2020,” said Dustin Gouker, lead analyst for PlayNJ.com. “Online growth will continue to be a net win for New Jersey’s gaming industry.”
New Jersey’s online and retail sportsbooks collected $557.8 million in bets in December, short of the record $562.2 million handle set in November, according to official reporting. December 2019’s handle was up 74.7% from $319.2 million in December 2018.
Revenue from sportsbooks reached $29.4 million, down from $32.9 million in November and up 41.4% from $20.8 million won in December 2018. December’s revenue yielded $3.7 million in tax revenue for the state.
For 2019, New Jersey’s sportsbooks combined to generate:
$4.6 billion in bets. Of that $3.8 billion, or 83.7%, was generated online.
Revenue of $299.4 million, including $244.5 million online.
State tax revenue of $36.5 million.
New Jersey will fall short of Nevada, which has generated $4.7 billion in bets through November, in the race to be the country’s largest legal sports betting jurisdiction.
“2019 could very well go down as the last year that New Jersey was eclipsed by Nevada,” said Eric Ramsey, analyst for PlayNJ.com said. “From its proximity to the New York market to its pioneering online sports betting infrastructure, New Jersey’s positives as a sports betting market will continue to fuel its growth.”
In December, online betting generated $488.9 million, or 87.6% of the state’s handle, up from 86.5% in November. FanDuel Sportsbook/PointsBet continues to pace the online market, tallying $12.1 million in gross revenue, down from $12.2 million in November.
FanDuel Sportsbook at The Meadowlands lead the retail market with $2.4 million in November gross revenue.
“In addition to constant growth, one of the constants in New Jersey’s sports betting market has been FanDuel’s dominance,” Gouker said. “The brands under Resorts Digital have made it a relatively close second in the online market, but it has proven difficult to overcome FanDuel’s advantages, despite the brand recognition that comes from DraftKings and Fox Bet.”
GAN plc, an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announces that GAN and Greenwood Gaming & Entertainment, Inc. trading as ‘Parx Casino’ (“Parx Casino”) have launched Internet gaming in the State of New Jersey now available online 24/7 since Friday October 4, following a three-day soft launch period.
Parx Casino patrons can also link their Reward Card online to their counterpart Internet gambling account, enabled by GAN’s U.S. patented integration framework. This represents the second U.S. State that GAN has launched Parx Casino in, following the launch of Internet sports betting and Internet casino gaming in Pennsylvania on June 24 and July 15, respectively.
Parx owns and operates the #1 land-based casino property in Pennsylvania located a short distance from Philadelphia, Pennsylvania’s largest City. In the most recent fiscal year ended June 30, 2018 Parx Casino generated $570m from slot machines and table games on-property representing a 18% share of the Pennsylvania’s $3.2bn gaming market.
GAN’s US-patented technology enables Parx Casino patrons enrolled in the on-property loyalty program, to sign up online and instantly link their reward cards to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming and/or sports betting, to be subsequently redeemed on-property.
Dermot Smurfit, Chief Executive Officer of GAN commented:
“Launching the largest casino in Pennsylvania online has now logically extended across the border into New Jersey, extending their reach into New Jersey’s fast-growing and established Internet gambling market. This represents an incremental revenue opportunity for GAN and is a logical extension of our technology infrastructure to serve Parx Casino patrons who routinely cross the invisible border between these two populous States.”
John Dixon, Chief Operating Officer of Greenwood Gaming & Entertainment, Inc commented:
“GAN has now ably demonstrated it abilities to serve our business needs in multiple States which aligns with the cross-border nature of our existing retail gaming customer base. GAN’s launch in New Jersey was a case study in on-time delivery and professional excellence and will enable our patrons to gamble online in either Pennsylvania or New Jersey, as they wish.”
-theScore, Inc. (TSX Venture: SCR) (“theScore” or “the Company”) today announced that the New Jersey Division of Gaming Enforcement (DGE) has granted an initial approval authorizing the Company’s subsidiary, Score Digital Sports Ventures Inc. to engage in Internet and mobile sports wagering activities in the state. In accordance with the DGE’s procedures, theScore will undertake a soft-launch phase of its sportsbook app with a select group of sports bettors in the state in the coming days, ahead of its anticipated state-wide launch in advance of football season.
“This is a huge milestone and a result of the tireless hard work that has gone into getting our sportsbook ready for launch,” said John Levy, Founder and CEO of theScore. “We can’t wait to debut a best-in-class sports betting offering in New Jersey, delivering a truly unique and holistic sports media and wagering experience for fans.”
theScore became the first media company in North America to announce plans to operate a sports betting platform in December 2018 after finalizing an official licensing partnership for New Jersey market access with Darby Development LLC, the operator of Monmouth Park Racetrack, and the New Jersey Thoroughbred Horsemen’s Association.
Last month, theScore announced a major expansion to its U.S. mobile sports betting platform through a strategic multi-state market access framework agreement with Penn National Gaming Inc., North America’s largest regional gaming operator. The framework agreement provides theScore with the right to offer online and mobile sports betting and i-gaming applications in 11 states where Penn National operates casinos and racetracks, subject to applicable state gaming laws and regulations.
theScore’s sports media app for iOS and Android is one of the most popular sports apps in North America, with an audience of approximately four million monthly active users that span every U.S. state. theScore’s mobile sports betting applications will leverage proprietary sports betting platform technology by U.S. based i-gaming and sportsbook provider Bet.Works.
NJ online gambling operators generated a total of $52.09 million in online poker, casino, and sports betting gross revenue compared to a total of $53.08 million in the previous month. Sports betting revenues are still led by FanDuel Sportsbook (Sports betting revenue reports under Meadowlands,) and online casino revenues continue to be led by the group of sites under Golden Nugget Casino.
Online gaming revenue declined 1.8 percent in May compared to the prior month, according to figures released Wednesday by the New Jersey Division of Gaming Enforcement. New Jersey online gambling operators report revenues in three gaming categories;
$36.54 million in gross online casino gaming win
$13.75 million in gross online sports betting win
$1.79 million in gross online poker gaming win
New Jersey online gambling operators saw a slight dip in revenues in May as the sport season moved into one of the slowest periods of the year. However, despite dropping sports revenue, May marked the second largest online casino revenue month since market inception, generating $36.54 million.
Gross revenue growth on casino games was led by operators under the umbrellas of Golden Nugget Online Casino and Resorts Online Casino. Golden Nugget’s $14.07 million reporting includes gross casino game revenues from Golden Nugget Online Casino and SugarHouse Online Casino, to go along with both Betfair Online Casino and FanDuel’s online casino players. Resorts Online Casino’s $7.28 million gross casino games revenue comes from play at DraftKings, Mohegan Sun Online Casino, Resorts Online Casino, and PokerStars, which was a jump up from the previous month as they continue their growth into 2019.
“It’s encouraging to see sustained online casino growth in Q2 as we lead into the slow betting & online casino months of the year. This just proves the power of sports betting as a key factor in building up online casino play. The big story ahead will be with Pennsylvania, who launched online sports betting last week and should have online casino in market by the end of July. It will be a big year for the online gambling industry in America.” said BonusSeeker.com Managing Editor, Rich Migliorisi.
New Jersey Online Gambling Revenue by the Numbers – May 2019 (in $ millions)
New Jersey Governor Phil Murphy will share his vision for the future of sports betting in the state at next month’s Betting on Sports America conference, the biggest sports wagering trade event in the U.S.
Murphy, who will make a keynote address to the conference, being held across April 23-25, joins a stellar cast of thought leaders and innovators drawn from the global sports betting industry and U.S. political arena. The core of the event is being held at Meadowlands Exposition Center in New Jersey, with networking parties in both NJ and NYC.
SBC organizes the world’s biggest sports betting trade events in Europe and the United States via its event brand SBCEvents.com. SBC also manages a network of betting and gaming industry news portals including SBCAmericas.com, an online news and analysis resource dedicated to the developing sports betting industries in North and South Americas.
The Governor’s inclusion at Betting on Sports America is entirely fitting given the vital role New Jersey played in getting legal sports betting on to the statute books. As a long standing supporter of sports betting, he not only championed its legalization, but was instrumental in ensuring that the regulation was workable in a real world sense and, above all else, fair.
Commenting on his forthcoming attendance at Betting on Sports America, Murphy said: “It is my pleasure to address delegates from the international sports betting industry who will join us here in New Jersey for the inaugural Betting on Sports America conference. We are immensely proud of the integral part that New Jersey played in taking down PASPA and in doing so laying the solid foundations for legal sports wagering to be enjoyed by Americans across the nation. New Jersey has been a sports betting success story and we hope that other states seeking to go legal will replicate that positive experience.”
SBC CEO and Founder Rasmus Sojmark heralded the Governor’s involvement in the discussions, saying: “We are delighted to have someone with the huge political standing and stature of Phil Murphy join us for what will be an unmissable event. The Governor will play a fundamental part in shaping and delivering legal sports wagering for New Jersey and we’re looking forward with high anticipation to his keynote address at Betting on Sports America.”
When Murphy signed New Jersey’s sports betting bill into law, he set in motion a new era for the Garden State’s casinos and racetracks, enabling them to attract new business and new fans, and giving a boost to their long-term financial prospects. Avid soccer fan Murphy also placed the historic first legal sports wager at Oceanport’s Monmouth Park racetrack with a $20 bet on Germany to win the 2018 FIFAWorld Cup and $20 on the New Jersey Devils to win Lord Stanley’s Cup.
New Jersey’s sportsbooks took in more than $320 million in February bets, generating strong monthly revenue despite a short month and a predictable post-Super Bowl lull. In all, New Jersey’s online and retail sportsbooks netted $12.7 million in revenue on $320.4 million in sports bets, down 16.8 percent from a record $385.3 million wagered in January.
The February handle works out to $46 per adult resident of New Jersey, significantly larger than any other legal sports jurisdiction, other than Nevada.
“Because of the strength of New Jersey’s online product, in-play betting during the Super Bowl was significantly stronger in New Jersey than in other legal markets,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “In addition, New Jersey’s sportsbooks saw significant action on other sports, particularly on college basketball and the NBA. It adds up to another very good month for New Jersey even after a somewhat disappointing Super Bowl handle.”
New Jersey’s online sportsbook brands accounted for $258.9 million, or 80.8 percent, of total bets in January, according to official reporting. The state’s retail sportsbooks made up the remaining 20.2 percent. That compares to 79.2 percent of total bets flowing through online sportsbooks in January.
“New Jersey’s sports betting market is less driven by major events than in Nevada, and February’s numbers bear that out,” Gouker said. “The market’s consistency will eventually help New Jerseyovertake Nevada as the largest legal sports betting market in the U.S., which is now more a question of when rather than if.”
FanDuel Sportsbook/Pointsbet overtook DraftKings Sportsbook as the state’s dominant online sportsbook with $6.6 million in February gross revenue, up from $5.9 million in January. DraftKings Sportsbook fueled Resorts’ $3.7 million in February online gross revenue, down 46 percent from $6.9 million in January.
FanDuel Sportsbook at The Meadowlands continues to dominate the retail market, posting $1.5 million in February gross revenue, up from $1.2 million in January. FanDuel was followed by Resorts AC’s $142,846.
“DraftKings and FanDuel show few signs of relinquishing their top spots,” Gouker said. “But with football now over, it will be interesting to see if a change in focus to college basketball and Major League Baseball alters the dynamic in the coming months.”
LEGAL ONLINE CASINOS
A month after crossing the $30 million threshold for monthly revenue for the first time, legal online gambling generated $31.8 million in February, up 44 percent from $21.99 million in February 2018. Though monthly revenue was down from a record $33.6 million in January, the industry generated $1.1 million per day in the 28 days of February, even with the 31 days in January.
“New Jersey’s online casinos are among the biggest beneficiaries of legalized sports betting,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “Online casino revenue has grown by at least 25 percent in seven of the eight months since online sportsbooks made their first appearance in the Garden State. It would not be surprising if the industry hits $40 million in monthly revenue at some point before 2019 has ended.”