Here is the latest in the world of sports betting in the United States.
Big Month in New Jersey
Official regulators have released the New Jersey sports betting data for August and the report is great news for states pushing for legalized sports gambling and, of course, New Jersey. Bettors from the Garden State wagered close to $100 million during the month, with sportsbooks claiming more than $9 million in revenue. That’s a lot of action and more than the months of June and July combined, in fact.
The kickoff of football season definitely helped bust those numbers so, with plenty more football to come, the numbers are only expected to rise. As a result, New Jersey has collected taxes in excess of $1.5 million since the big launch.
In even better news, this August report also included the very first facts and figures from online and mobile sports betting available now in the state. No doubt adding some more padding to those comfy numbers.
DraftKings Sportsbook was the first to market so it was out in front with $3 million in earnings for the month and that’s one-third of the market. The DraftKings Sportsbook is off to a great start for sure having already booked a million individual wagers. Competition with the sportsbook is sure to stiffen though, especially in the online/mobile world. There are eight new platforms joining the fray, including 2 just this week. 888 Sportsbook and BetStars are now live and should expect plenty of action in the month of September.
New Jersey is patient zero in this new world of legalized sports gambling so seeing such positive returns after the third month should be noted by other states looking to follow suit.
Place Your Bets, Place Your Bets
Politics and wagering on politics is nothing new. Presidential election odds always find their way to the sportsbooks’ big board every four years. However, the Trump presidency has been adding plenty of action as of late. You can find impeachment odds, resignation plays, and days in office over/under wagers. Every week it seems we get a new one and last week was no different as Vice President Mike Pence comes in as the favorite in the Who-Wrote-That-NYT-Op-Ed wager.
You may recall, the New York Times recently published an anonymous Op-Ed titled, “I Am Part of the Resistance Inside the Trump Administration.” It is reportedly penned by a “senior official in the Trump White House,” and the Times has stated on record it knows the identity of the author although they will not reveal their source.
“I work for the president but like-minded colleagues and I have vowed to thwart parts of his agenda and his worst inclinations.”
President Trump, to say the least, was not happy with the piece, calling it “gutless,” and has called on the New York Times to publicly out the author. As of press time, they have not so let’s have a look at the odds and what this wager is paying.
Mike Pence, as mentioned, is a strong favorite at -150. Apparently, the piece uses one of his favorite 5-cent-words, “lodestar,” which he has been sprinkling into speeches for years. Betsy DeVos comes in second at +200 for some good 2-1 odds. Mike Pompeo, Steve Mnuchin, and John Kelly are all right there at +400. Jeff Sessions, which you’d think a prime suspect, shows some good odds at +500 but you’ll notice the piece doesn’t have a southern drawl to it so he’s probably out. The rest of Trump’s inner circle rounds it out with Stephen Miller as the long shot at +1500.
I love a dark-horse so Miller might have some good value here. He has experience for being an online troll IRL so that could be a good money-maker. However, don’t forget, you can also take the field at -300 because, let’s be honest, no one on the list would actually write the thing. They’d just tell an intern to do it. That way, you have a fall guy built in. Anyway you wager it, it’ll be fun to see this prop paid out. It could be years or even decades before the answer leaks, Deep Throat style, so many will have probably forgotten they even placed said wager.
DraftKings CEO Says No
Jason Robbins, CEO of DraftKings, doesn’t see his operation entering the casino industry anytime soon. There has been plenty of speculation as of late and understandably so, DraftKings has recently partnered with Resorts Casino Hotel in Atlantic City.
However, Robbins remains committed to focusing on technology-driven products such as their Daily Fantasy platform as well as their dip into sportsbooks. Technology is the future after all and Robbins likes his seat just where it is. “We are positioned very well on the mobile end of the sports betting market though. The world is moving online and to mobile anyway. I think we’re in a good spot.”
