The Book Report Volume 14
While sports gambling expands to new states every few months, there is a lot of talk about the future of the sports gambling business in Las Vegas. The Strip is currently being dominated by William Hill’s acquisition of Caesar’s which gives the most brick and mortar sportsbooks in Las Vegas. Circa Sports has opened eyes around the country with the debut of the world’s biggest sportsbook and Stadium Swim, the massive outdoor pool area for sports betting, also has the potential to be a must-visit location for gamblers.
However, recent growth for states on the East Coast has caused some to speculate that Nevada’s time as the center of the sports gambling world is quickly coming to an end.
New Jersey, the state poised to replace Nevada atop the sports gambling mountain, posted the largest handle ever for any state during the month of November. Yet, what really matters to the gambling companies is profit. While “Handle†is the amount of money that is wagered, revenue is the amount of money that sportsbooks actually made. While getting the most action at your book is great, what really matters is how much money the companies took from gamblers.
For the month of November, Nevada sportsbooks flexed their muscles and took home a record $61.8 million dollars according to numbers released by the Nevada Gaming Control Board this week. The previous record was $56.4 million won in September of 2018.
ESPN Chalk spoke to veteran bookmaker Jay Kornegay of the Westgate:
“I’d say 90 percent of the largest NFL decisions went our way in November, including some that were among our biggest wins ever.â€
Losing 9 out of every 10 bets on the NFL is not a good look for our side of the counter. At the end of the day, the books are in the business of making money. Taking the most bets is great, but beating the wagering public is really what the books are in business to do.
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BetMGM
The Philadelphia 76ers announced this week that BetMGM is now an Official Sports Betting Partner of the team, following BetMGM’s recent mobile launch in Pennsylvania.
“We are thrilled to partner with BetMGM and together create new, engaging experiences to deliver to our 76ers fans,†said Katie O’Reilly, 76ers Chief Revenue Officer. “This partnership will give us the ability to connect with our fans on the digital channels where they spend their time through customized 76ers branded games and activations. BetMGM will also propel us into a new space, strategically targeting fans in the sports betting and gaming realm.â€
As an Official Sports Betting Partner of the Philadelphia 76ers, BetMGM will be featured across all 76ers digital and social platforms including the official 76ers mobile app.
One bettor at BetMGM was VERY confident in the Patriots on Monday Night Football. It didn’t go their way.
DraftKings Sportsbook
New England states should pay attention to what New Hampshire did in 2020. While DraftKings had a monopoly in the state in conjunction with the lottery, the numbers aren’t any less impressive as to what the Granite State put up last year.
FanDuel Sportsbook
FanDuel was asking their customers to show what 2020 was like for them betting on their app. There are some interesting posts for sure.
Good luck betting this week in the NFL. My goodness, look at those lines.
Other Sportsbooks
BetRivers launches in Iowa this week:
As fans prepare to watch Iowa State make history at their first Fiesta Bowl and watch the top ten nationally ranked Hawkeyes get into the thick of the Big Ten men’s basketball schedule, beginning January 1st, Iowa residents over the age of 21 can now register remotely from anywhere in the state to place their bets on their home state heroes. Players can deposit funds and place their bets on the Hawkeyes, Cyclones, and their other favorite teams and sporting events right from their mobile devices and computers using RSI’s award-winning online sportsbook at BetRivers.com.
Big Action on MNF at Sugarhouse:
Although the Bills (-7, -315 ML) have already wrapped up the AFC East championship, bettors expect Buffalo to pour it on the Patriots (+260 ML), a team that will miss the playoffs for the first time since 2008. The public is backing Buffalo with 92% of the ML handle and 88% of the spread handle. The public is also on Over 46.5 with 69% of the O/U handle. The Bills have covered in six straight while the Patriots are 2-3 ATS in their last five. New England has failed to hit the over in six straight while Buffalo has hit the over in three of its last five.
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Matt Perrault is a featured writer at BettingPros and the host of the Daily Juice podcast. For more from Matt, check out his archive and follow him @sportstalkmatt.