Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Jul 13, 2018

First New Jersey Results Show Sports Bettors Are Better in Vegas

(Bloomberg) -- Early sports wagering numbers are in from Delaware and New Jersey, and they suggest America's newest gamblers aren't very good.

New Jersey, which took its first legal sports wager at Monmouth Park on June 14, released data Thursday on its first two weeks in operation. The state's sports books kept 7.8 percent of every bet, earning $1.2 million on $15.3 million in total wagers on completed events.

Delaware's books, which went live on June 5, reported about $7 million in wagers in their first 19 days, and so far they're keeping 14.3 percent of that. It'll be less as bets get paid out; unlike New Jersey, Delaware reports bets on future events as cash currently on the books.

In Nevada, the only other state where sports gambling is legal, casinos keep a smaller share because the bettors are savvier. Nevada casinos, for example, kept 5.1 percent of the money wagered on sports in 2017.

To contact the reporter on this story: Eben Novy-Williams in New York at enovywilliam@bloomberg.net

To contact the editors responsible for this story: Janet Paskin at jpaskin@bloomberg.net, Rob Golum

©2018 Bloomberg L.P.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search