1. #1
    sweep
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    NJ Sports betting handle soars to $600 Million

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  2. #2
    jjgold
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    NJ way ahead of the curv, they out hustled Vegas and I love it

    Going to squash them

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  3. #3
    jjgold
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    So much for the new sports betting industry in New Jersey being a boon for everyone from the horse racing industry to the state's taxpayers.

    In October, local gamblers showed they're getting the hang of this whole sports wagering thing. Because while total handle for the state rose to a record $260.7 million during the second month of football season, up from $186 million in September, the gross revenue generated by the sports books made dropped precipitously.

    Despite that 41 percent increase in handle, sports books in the state generated revenues of just $11.7 million in October, down 51 percent from the $24 million generated in September.

    It's all because the win percentage for the sports books fell from 7.9 percent in September to 5.8 percent in October.

    And all this after revenues rose from $9.2 million in August up to $24 million in September.

    Much of the increase in the total handle in October stems from the expansion of online gaming platforms, with online wagering rising $174 million, up from $105 million a month earlier.

    The FanDuel Sportsbook at the New Meadowlands Racetrack saw revenues tumble to just $1.1 million, down from $4.37 million in September, while its online revenues fell from $2.8 million to $2.4 million in October.

    A statement released by FanDuel highlighted the growth of the market, rather than the dropoff in profits.

    ``October was a great month,'' the statement said. ``Demand for the FanDuel Sportsbook continues to outpace our expectations with online handle 2.5 times higher than September and continued double digit growth in retail handle. It was an exciting month for bettors who won at a high rate on football and benefitted from our industry-leading pricing and odds boosts. We will continue to offer New Jersey customers the best pricing and promotions in the industry and are looking forward to further growth in NJ and beyond.''


    At the Monmouth Park Sports Book by William Hill, revnues fell to just $606,981, after posting revenues of $2.1 million in September. Monmouth Park did experience a surge online, however, with those number rising from $70,785 last month to $608,611

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  4. #4
    sweep
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    Bookies all over the world got barbequed in October......all it took was one week off 10 nfl favorites covering ATS.


    Draftkings opening a 5k square foot sportsbook on the boardwalk at Resorts AC. Weird considering Resorts is Pokerstars land based casino rep for their poker platform. Betstars has no plans yet for land based brick & mortar book

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  5. #5
    jjgold
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    NJ moving so fast

    very smart

    everyone else dragging feet like PA

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  6. #6
    pavyracer
    What?
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    When favorites cover books are taken to the cleaners.
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  7. #7
    jjgold
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    Players buying cars like crazy in Nj

    It’s amzing

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  8. #8
    big joe 1212
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    NY missing lots of tax dollars this football season.

    fukking morons

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  9. #9
    t-wizzle
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    Quote Originally Posted by sweep View Post
    Bookies all over the world got barbequed in October......all it took was one week off 10 nfl favorites covering ATS.


    Draftkings opening a 5k square foot sportsbook on the boardwalk at Resorts AC. Weird considering Resorts is Pokerstars land based casino rep for their poker platform. Betstars has no plans yet for land based brick & mortar book
    You would know, yes?
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  10. #10
    jjgold
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    So is PA


    Quote Originally Posted by big joe 1212 View Post
    NY missing lots of tax dollars this football season.

    fukking morons

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  11. #11
    Renegades
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    Will be legal in CT at some point too. Lamont has it on his agenda to legalize and he mentioned it in his campaign

  12. #12
    cankid
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    Here's the train that can't stop now
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  13. #13
    reigle9
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    Saw Hollywood is starting to take sports bets soon

  14. #14
    Optional
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    Would be interesting to see the handle/profit breakdown for online v B&M

    To see if the online app users are sharper or not.

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  15. #15
    jjgold
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    online is killing it everywhere in NJ

    I doubt they are sharper....gambling really no such thing as sharp just line chasers

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  16. #16
    sweep
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    Quote Originally Posted by t-wizzle View Post
    You would know, yes?

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  17. #17
    Hman
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    It is believed by some 'experts' that sports betting will be even bigger in Pennsylvania than NJ
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  18. #18
    t-wizzle
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    Quote Originally Posted by sweep View Post
    Thought you took action
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  19. #19
    DukeSnider
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    Re NYState...four casinos could open a prior approved sports book with a simple approval of the gaming commission but apparently our Gov has decided not to do so for some bizarre and unknown political reason...what a wasted opportunity, so typical when it comes to gaming in NYState.I reside near Tioga Downs and they are very frustrated with this scenario....
    BTW the owner of TD is billionaire
    Jeff Gural who also owns part of the Meadowlands operation.
    Last edited by DukeSnider; 11-16-18 at 08:40 AM.

  20. #20
    sweep
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    Quote Originally Posted by t-wizzle View Post
    Thought you took action
    Thought you were talking about the Betstars/Draftkings comment....

    Yes, last month was not good....all due to 1 week out of the month. Historically the week before thanksgiving is good though so I'm looking forward to this weekend.

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  21. #21
    jjgold
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    Eventually Las Vegas will barely be at dot on the map sports betting who would’ve ever thought that

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  22. #22
    sweep
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    Quote Originally Posted by jjgold View Post
    Eventually Las Vegas will barely be at dot on the map sports betting who would’ve ever thought that
    Same with off-shore

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  23. #23
    ChuckyTheGoat
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    Good report, Sweep.

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  24. #24
    DukeSnider
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    Quote Originally Posted by sweep View Post
    Same with off-shore
    not so sure re your prediction...let's hear your logic.

  25. #25
    jjgold
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    Quote Originally Posted by sweep View Post
    Same with off-shore
    maybe all but 5...........the medium and big players cannot live without out offshore and they have tons of business in 200 Countries so 5 will be around forever and be huge

    The rest all gone and bankrupt

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  26. #26
    darrell74
    fuk off-thomorino
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    https://amp.app.com/amp/3137988002
    Article about the sportsbook losing over half a million bucks last month

  27. #27
    Matt17
    PocketTens on WSOP.com
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    Gambling capital of the world.

  28. #28
    RudyRuetigger
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    Quote Originally Posted by jjgold View Post


    NJ way ahead of the curv, they out hustled Vegas and I love it

    Going to squash them
    bro ive said since it was legalized, sbr needs to get on this

    you said, never will replace offshore







    i also said sbr should take up fantasy sports....we see what draftkings is now
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  29. #29
    A Quant
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    FanDuel opened their sportsbook in Valley Forge today.

    Not bad--- not a temporary space, they did it right. Opened it up in time for March Madness---Is a great place to sit and gamble.

    It's in an upscale neighborhood of King of Prussia---- right where 422/76/Turnpike all meet.

  30. #30
    jjgold
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    Quote Originally Posted by A Quant View Post
    FanDuel opened their sportsbook in Valley Forge today.

    Not bad--- not a temporary space, they did it right. Opened it up in time for March Madness---Is a great place to sit and gamble.

    It's in an upscale neighborhood of King of Prussia---- right where 422/76/Turnpike all meet.
    It does not look that big

    Seems like bar type setting

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  31. #31
    SlickFazzer
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    Will Allantown have any outlets?

  32. #32
    jjgold
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  33. #33
    DukeSnider
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    and NY State's share is ZERO. Thank you Gov Cuomo !

  34. #34
    A Quant
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    Quote Originally Posted by jjgold View Post
    It does not look that big

    Seems like bar type setting
    Have you been there?

    It is hard to find something wrong with it--- of all the places available to me next Thursday for March Madness, I am going to Valley Forge. Tough to beat it.

  35. #35
    Optional
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    Quote Originally Posted by darrell74 View Post
    https://amp.app.com/amp/3137988002
    Article about the sportsbook losing over half a million bucks last month
    It says six brick & mortar sportsbooks made losses in Feb. Borgatta over 750K.

    But all of them had an overall profit when including online.


    If that trend continues I can't see big investment in offline facilities continuing for very long.

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