The New Jersey sports betting world is buzzing right now, especially for Philadelphia Flyers fans. The orange and black are one of the favorites to win the Stanley Cup. Yes, it’s August, and we’re talking about the NHL playoffs.
Plus the NBA Playoffs get underway next week in the Walt Disney World bubble.
Bettors have wasted little time getting back to business. The proof comes in the form of July’s $315 million total handle.
The NJ online casino industry had a big month as well, with $87.4 million in revenue, good enough for a new all-time high. And this is with eight of the nine Atlantic City casinos open for most of July.
Here are the latest headlines making New Jersey gambling news this week.
Put this on ice: Flyers favored to win Stanley Cup
“Let’s Goo Flyers!” Chants are echoing around the Garden State (and Pennsylvania, too).
And for good reason: The Flyers are favored to win the Stanley Cup.
For now, the Eastern Conference’s top seed is focused on winning their opening series against the Montreal Canadiens. The Flyers took Wednesday night’s game, 2-1.
Bettors who took the puck line of -1.5, however, lost the wager.
Then again, the bigger payout will come if Philly wins the conference and Stanley Cup. If this story ends up playing out as fans and Gritty hope, it will end a Flyers 40-plus year championship drought.
The team still needs to win three more games against Montreal. Puck drop for Game 2 is 3 p.m. Friday. The line is Flyers -1.5.
PointsBet launching online casino app
PointsBet NJ is making Garden State headlines once again. The news is likely catching customers by surprise.
For those who missed it, the company based out of Austrailia announced a multiyear partnership with Twin River Worldwide Holdings to launch an NJ casino app.
Twin River is in the process of buying Bally’s AC from Caesars Entertainment. Both deals are pending the completion of the sale and approval from the New Jersey Division of Gaming Enforcement.
The New Jersey launch “will be a fast follow of its debut in the state of Michigan, expected in the second half of 2020.”
As far as what users can expect to see, Manjit Gombra Singh, PointsBet president of product and technology, shared some details:
“PointsBet is thrilled to partner with Twin River to offer its flagship online casino product in New Jersey as a complement to its critically acclaimed sportsbook. PointsBet continues to innovate and iterate upon its proprietary technology profile, and this agreement is yet another signal that PointsBet remains focused on providing a modern gaming experience for modern times.”
Bet365 expanding New Jersey footprint
Bet365 is closing in on its one-year anniversary of launching in the Garden State.
The operator is currently billing itself as the “world’s favorite sportsbook.”
Playtech is known for its extensive library of “innovative casino games,” which amounts to 700-plus titles.
Frankie Dettori’s Magic Seven, Great Blue and White King are some of the more popular games.
Sports betting is back
Wondering what happens when the NBA, NHL, and MLB all return at the same time from a 100-plus day shutdown?
Well, besides games being on TV all hours of the day, there is once again a full menu of NJ online sports betting options. And Garden State bettors wasted little time getting a piece of the action.
July’s $315 million handle is significantly higher than the $251.1 million reported in July 2019. The spike is even more noticeable when compared to June’s $165 million.
The 17 operators also reported $29.5 million in revenue.
It’s looking like the industry is wasting little time regaining momentum.
And speaking of NJ sports betting…
July’s handle is just the latest example of NJ sports betting’s success story. In the Garden State, it’s much more than another form of gambling.
Thanks to this thriving industry (minus a couple of bad months impacted by the pandemic), Atlantic City is back in play.
In normal times, when 25% capacity restrictions and social distancing measures are not in place, AC sportsbooks are a major attraction. Can AC become an East Coast sports betting destination?
The good news, after being closed for 100-plus days, all eight of them are taking bets once again.
NJ online casinos stay sharp; Golden Nugget still leads
For the first time since March, New Jersey gamblers had two options.
Eight of the nine Atlantic City casinos reopened in early July. Many customers jumped at the opportunity to return to their favorite property, even with 25% capacity limits and no indoor dining,
The other option was to continue playing on one of the more than two dozen NJ online casinos. While the business did pick up big time in AC, NJ online gaming revenue hit a new all-time high of $87.4 million.
This tops May’s $85.9 million and June’s $84.9 million. Could a $90 million month be on the horizon?
Oh, and if you’re still wondering whether Golden Nugget leads the pack, check out this number: $31.5 million. Golden Nugget online casino, PlaySugarHouse Casino and BetAmerica make up almost 36% of the market.
On the board at NJ Sportsbooks
The NBA playoffs begin next week. The matchups and schedules are still being finalized as of this writing.
Philly fans hoping the 76ers would have a legitimate spot of contending for the Eastern Conference crown will likely be disappointed. FanDuel Sportsbook has them at +4200, and the four teams in front of them have much better odds as of Thursday morning:
- Milwaukee Bucks -140
- Toronto Raptors +280
- Boston Celtics +550
- Miami Heat +850
Ben Simmons being sidelined following knee surgery doesn’t help the equation.
The Sixers are locked into the No. 6 seed and will face the Boston Celtics in the opening round.
One of the great things about sports is upsets occur on a regular basis. Winning three series, however, is a much more daunting task.
Call betting on Philly a low risk, high reward scenario.
And here’s another number: +8500. Those are the Sixers’ current odds to win the NBA Finals. Again the chances of cashing in a winning ticket are highly unlikely. Here is a look at some of the favorites, including the defending NBA champion Toronto Raptors:
- Bucks +260
- Lakers +280
- Clippers +320
- Rockets +1000
- Raptors +1000
- Celtics +1700