• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Get A Grip: The Week In Sports Betting: Record-Breaking Monthly $750M New Jersey Betting Handle; Michigan XMas Gift, More

A lot of the industry and sports world news that's fit to discuss and link

Brett Smiley by Brett Smiley
October 16, 2020
in Industry
New Jersey Get A Grip

Shutterstock

Share on FacebookShare on Twitter

It’s information overload everywhere, and there’s not time enough to sleep and eat and stay fully apprised of what’s happening on this crazy blue dot of ours (two out of three ain’t bad). Here’s the weekend (or fashionably late) Sports Handle item, β€œGet a Grip,” recapping the week’s topΒ U.S. sports bettingΒ stories, highlighting some fresh news, and rounding up key stories.

Also check out this week’sΒ Wide World of Gambling at US Bets.

New Jersey breaks own handle record by $80 million

There seems to be no roof on the monthly betting handle in New Jersey. One month after shattering the largest recorded monthly betting handle in any U.S. state, Nevada included, New Jersey bettors and sportsbooks pushed the number several stories higher with a collective $749 million in wagers across all legal NJ sportsbooks, both online and at brick-and-mortar. The sportsbooks kept (or won) $45.1 million for a hold rate of 6%.Β 

The previous national record was $668 million in bets in a single month — in August in New Jersey, in the days and weeks after the NBA and NHL resumed their 2019-20 seasons and MLB took the diamond for a 60-game regular season after months of squabbling. Of course, September saw the NFL season kick off and some of the larger NCAA college football conferences continue or begin play with modifications in response to the COVID-19 pandemic.Β Β 

Mix all those sports and unprecedented situations together, and it spelled three quarters of $1 billion. This remains unchartered territory with a once-in-a-lifetime rejiggered sports schedule that also saw the PGA’s U.S. Open tee off at Winged Foot in mid-September. The earlier standard before New Jersey erased it in August was $617 million set in Nevada in Nov. 2019.

The clear frontrunner among the sportsbooks is FanDuel Sportsbook at Meadowlands Racetrack and by extension the online FanDuel Sportsbook as well as PointsBet Sportsbook, which is available in New Jersey through its partnership with Meadowlands. Combined, the retail sportsbook and online books (the report does not parse out the online figures) generated $28 million in revenue for the month.

After bottoming out in April at $54 million, at the height of the U.S. spread of the coronavirus, when the marquee events were table tennis, Belarus soccer, and NFL Draft wagering, this can be called a V-shaped recovery. As for the actual height of the vaulted ceilings? Probably over $1 billion.Β  One last note, and not at all surprising, more than 90% of the $749 million in wagers was placed online, keeping with the trend in New Jersey and other big-market states for months.Β 

Santa Claus may bring online sportsbooks to Michigan

Live online/mobile sports betting in Michigan is just a little closer than it was earlier this month after the Michigan Office of Administrative Hearings and Rules sent two sets of proposed iGaming rules to the state’s legislative Joint Committee on Administrative Rules on Oct. 8. But the clock for how long JCAR can hold the rules began Tuesday. The rules must be in the committee for 15 session days or JCAR can choose to waive the 15-day requirement. It appears that the 15th session day would be on or about Dec. 15.

What does that mean? No sports betting by Thanksgiving without a waiver. Rather, if JCAR takes no action, then the Michigan Gaming Control Board can complete a certificate of adoption, and then file with the Office of the Great Seal with an effective date after Dec. 15.

After all of that (!) the MGCB can begin issuing licenses, according to an MGCB spokesperson. The gaming board has been pointing to a late 2020 launch for iGaming and sports betting, but it’s unclear how operators will be launched — as a group like they were in Colorado and will be in Tennessee, or on a rolling basis as in Illinois or Pennsylvania.

More of the week’s top stories, happenings

According to my colleague @GaryRotstein, Pennsylvania September sports betting handle is a state record $462.8 million, up about 27% over August. Full story to come on @PennBets.

— Eric Raskin + (@EricRaskin) October 16, 2020

NEWS: Today, #FanDuel Group announced a multi-year deal with @Turner Sports, designating @FDSportsbook as the exclusive sportsbook partner for NBA programming on @TurnerSportsPR properties, including content integrations across @BleacherReport.

More info: https://t.co/UCVHFR6KC5 pic.twitter.com/Jjr4vG8MS5

— FanDuel (@FanDuel) October 15, 2020

GET OUT AND VOTE: Gaming industry shows cooperating for Maryland sports betting referendum [CDC Gaming]

Β $462.8 MILLION: With Barstool’s help, Pennsylvania shatters its monthly handle record [PennBets]

LOBBYING: $2 million and counting spent on push for legal sports betting in Maryland [Baltimore Sun]

TIMES HAVE CHANGED: Las Vegas among future NCAA regional sites [NCAA]

FALLOUT: STATS Perform outage wreaks havoc across DFS platforms [US Bets]

GAME ON: Virginia Lottery begins accepting sports betting applications [Sports Handle]

ADDICTION: ‘I knew my limits. Now I can’t stop’ [ABC Australia]

ON THE SCREEN: PGA TOUR integrates BetMGM odds into upcoming telecast [PGA Tour]

REFERENDUM PROBABLY REQUIRED: Bill introduced to allow wagering in NJ on state’s collegiate teams during championships [NJ Senate]

THE ART OF SPORTS: Inside the sheer beauty of a football pass [WSJ]

WHAT’S AT STAKE: A Biden-Harris administration, Democratic Senate paints rosier picture for sports betting nationwide [Sports Handle]

MATH: A case for action-reverse bets — a compelling alternative to parlays [Analytics Vidhya]

First renderings of planned @WilliamHillUS sportsbook at Capital One Arena in Washington, D.C., aiming to open early in 2021. pic.twitter.com/3udHyW83Yq

— David Payne Purdum (@DavidPurdum) October 15, 2020

ROUNDERS: It’s no bluff — live poker begins returning to PA casinos next week [PennBets]

LIKEWISE: Same in New Jersey, starting at the Borgata [NJOG]

 

ShareTweetShare
Brett Smiley

Brett Smiley

Brett Smiley is editor-in-chief and co-founder of Sports Handle, which joined forces with the US Bets team in November 2018. He focuses on the sports betting industry and legislation. He's a recreational sports bettor and DFS player himself, focusing on the NFL. In a past life, Smiley practiced commercial litigation in New York City and previously wrote for FOX Sports and SI.com. He lives in New Jersey with his family.

Related Posts

get a grip graphic
Industry

Get A Grip — The Week In Sports Betting: Talking Brackets In School

March 24, 2023
atlantic-city-boardwalk
Legislation

New Jersey Lawmakers Latest To Condemn Amount Of Wagering Advertising

March 20, 2023
Load More

Top Stories

taylor mathis

Taylor Mathis Got Sacrificed At The Altar Of Responsible Gambling

March 20, 2023
fanduel baseball wall

Premade Same Game Parlays Are Sucker Bets

March 13, 2023
maginfier-over-small-print

Read The Fine Print: A Proposed Federal Rule Could Change Everything For Indian Gaming

March 6, 2023
roman reigns wwe

Colorado Denies Report Stating That It’s Considering WWE Wagering

March 8, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
March 27, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 27, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

SportsHandle

  • Analysis
  • Casino
  • Features
  • Horse Racing
  • Industry
  • Legal
  • Legislation
  • Opinion
  • Podcasts
  • Poker
  • Politics
  • Promotions
  • Regulation
  • Sports
  • Uncategorized

Better Collective

This website is owned and operated by Better Collective USA. Trademarks and copyrights referenced on this website are and shall remain the exclusive property of their respective owners and/or licensors. Please be sure to visit the operator’s website(s) to review their terms & conditions. We advise you to read these carefully as they contain important information. Copyright Β© 2023 USBets.com | Better Collective USA
21 Play Responsibly
Gamble Aware West Virginia
Gambling Problem? Call 1-800-Gambler.
GameSense

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...