BetMGM – the online gaming and sports betting arm for Borgata, which operates in Atlantic City and Las Vegas – is rolling out a new game show with the online television network Cheddar News.
Cheddar Bets will air every Thursday afternoon, according to an Aug. 2 statement, to offer an “exploration of the intersection of sports betting and financial markets.”
New Jersey’s sports betting market has exploded since the industry was formally rolled out in June 2018 following a landmark U.S. Supreme Court case knocking down a near-national ban on the practice.
Patrons wagered $1.2 billion in 2018, $4.6 billion in 2029 and more than $6 billion in 2020, according to the state’s gambling regulating agency.
The lion’s share of the wagers have been via online and mobile apps, rather than at the state’s nine brick and mortar casino locations. During COVID-19’s closures of casinos in 2020, and the ensuing year of capacity restrictions, online and mobile products served as a lifeboat for the state’s casino industry as it rode the vicious financial woes of the pandemic.
“Cheddar Bets will dive deep into the world of sports betting and its effect on sports, technology, financial markets, regulation and more, all while highlighting the community that has changed the game and continues to drive the sports betting industry forward,” reads a statement from Cheddar News General Manager Liam Roecklein.
The Esports Innovation Center at Stockton University just outside Atlantic City and the Sports Wagering and Financial Technology Workforce Development and Innovation Center at New Jersey City University were announced earlier this year with similar goals: to understand and nurture the litany of relevant industries and job sectors.
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