Bong Joon-Ho may have won Best Picture and Best Director for Parasite this past Sunday, and Joaquin Phoenix Best Actor for Joker, but in New Jersey the house won just shy of $40,000 from bets on the annual award ceremony.
Patrons bet a total of of $380,424 on the 92nd Academy Awards, according to raw data released Monday by the Division of Gaming Enforcement. They took home $340,702, the DGE added, spelling $39,722 that went to the house—an industry win percentage of 10.44 percent.
Total gaming data on how much patrons bet in New Jersey’s sportsbooks during February will not be available until mid-March.
It’s kind of a novelty. I don’t know how many people want to wager more than a few bucks.
– Brett Smiley, editor-in-chief, SportsHandle.com
But last year, the nation’s first-ever Oscars where people could legally wager, the DGE reported that patrons bet $747,696; a slither of the $320 million wagered overall during the month of February when the Oscars took place. Patrons won $564,179, and the rest went to the house, according to the DGE. But gaming analysts and industry insiders said they were satisfied with those numbers.
“It’s kind of a novelty,” SportsHandle.com Editor-in-Chief Brett Smiley told NJBIZ last year. “I don’t know how many people want to wager more than a few bucks. [It’s] absolutely not a money-maker.”
And for both years, the house actually won more from the Oscars than it did for the Super Bowl, a much more heavily-watched program by a consumer base that would spend big bucks at the state’s sportsbooks.
New Jersey’s 10 in-person sportsbooks and 19 online and mobile sportsbooks lost $4.2 million during Super Bowl LIV on Feb. 2, won by the Kansas City Chiefs, the state’s casinos and racetracks took in $54,288,227 of wagers but paid out $58,568,699 in winnings. Like with the Oscars, gaming analysts and industry insiders were satisfied, even excited, with the results.