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Any question that states aren't benefitting from a May Supreme Court ruling that overturned decades long prohibition against sports betting can now be put to rest.
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New Jersey's preliminary numbers speak volumes.
From Forbes:
This September is the first month with regular season NFL games. To give you an idea of how important football is to sports betting, consider Nevada numbers for 2017. In May, a month with exciting NHL and NBA playoff action and Major League Baseball, the state’s sports books made under $3 million. Interesting note: that total was about half of its usual number because of locals betting—and winning—big during the Golden Knights historic playoff run, but even without the Knights it probably would have been a $5-6 million month. By contrast, September, with both college and professional football, saw a total sports betting win of over $44 million. What Christmas is to retailers, football is to sports books.
New Jersey's foray into legalized sports betting has not been without its gaffes.
The Meadowlands FanDuel branded book was without a counter person one late night when a Major League Baseball game went into extra innings. The book also ran into a serioius parking issue to kick off the new NFL season.
Elsewhere, at the Monmouth Park Racetrack book, professional sports bettors were quickly being denied (as opposed to being limited).
And then there was the well publicized glitch with FanDuel offering the wrong payout odds via its live play platform. The company at first refused to pay and the uproar that followed forced them to do otherwise.
Overall, New Jersey has demonstrated that legalized sports betting is well worth delving into in the States.
- Don Shapiro, Gambling911.com
