While Labor Day weekend marks the unofficial end of summer, it also means the kickoff of football season. And here in New Jersey, gaming officials are reminding residents to steer clear of illegal sites when betting on football and/or playing in daily fantasy contests.
“We know that the start of football season brings with it an uptick in sports betting and fantasy sports participation, and we want everyone to enjoy these activities safely and securely,” said First Assistant Attorney General Lyndsay Ruotolo. “Sportsbooks and daily fantasy sites licensed and authorized to operate in New Jersey are subject to nation-leading consumer safeguards against fraud, identity theft, and unscrupulous actors; however, illegal sites have none of these protections. This season, we urge fans to stick with regulated websites to avoid scams and bogus offers. And for those who may need help with a gambling problem, know that help is available.”
As officials urged players to avoid unregulated, illegal sportsbooks and fantasy sports sites, they noted those operations may be offshore and lack operational and financial controls; proper and timely payment processing; dispute resolution processes; transparent ownership; and anti-money laundering controls.
Regulators are also telling players to be on the lookout for red flags – which may indicate an illegal site or sportsbook – such as:
Accepting deposits or making payments in cryptocurrency and Bitcoin;
Offering bets on political contests, which are not approved by DGE as events for sports wagering;
Charging fees for processing deposits or withdrawals;
Advertising bonuses and promotions that seem too good to be true; or
Operating without a “.com” or using a domain from outside the U.S.
“The problems with illegal sportsbooks are numerous,” said DGE Director David Rebuck in a press release. “They lack oversight to ensure customers are actually paid what they won as well as security protocols to safeguard sensitive personal and financial information, like Social Security numbers and bank data.”
Fais
“For many fantasy sports participants, the start of the football season is an especially exciting opportunity to test their knowledge of the players and the game by drafting and managing their own virtual team in fantasy football contests,” said Cari Fais, acting director of the DCA. “We’re reminding these armchair managers that the most important pick of a winning season is selecting a fantasy sports operator that is properly permitted and doing business legally in New Jersey to ensure the game is fair and everyone is playing by the rules.”
Wynn Resorts announced late last week the closing of its online sports betting and internet gaming platform, WynnBet, in certain jurisdictions, including here in the Garden State.
WynnBet, which first launched in New Jersey in 2020, has operated its platform under the gaming licenses held by Caesars Entertainment. While state gaming numbers do not offer financial data for individual operators, WynnBet was not believed to hold a major piece of the market share in the competitive sports betting and iGaming markets.
“In light of the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting, we believe there are higher and better uses of capital deployment for Wynn Resorts shareholders,” said Wynn Resorts Chief Financial Officer Julie Cameron-Doe in a Aug. 11 statement. “While we believe in the long-term prospects of iGaming, the dearth of iGaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBet to focus primarily on those states where we maintain a physical presence.”
Wynn Resorts does not hold a physical presence in New Jersey.
In addition to the Garden State, WynnBet is also planning to wind down operations in Arizona, Colorado, Indiana, Louisiana, Tennessee, Virginia and West Virginia “as soon as possible.” Nevada and Massachusetts operations will continue unaffected, while New York and Michigan remain under review.
While “as soon as possible” was the initial language used, WynnBet customers in New Jersey have been notified that the shutdown is effective immediately. Customers will have access to their accounts until Oct. 11 to settle any outstanding bets and to withdraw any remaining money.
WynnBet says it will contact any customers who have bets that will not be settled by that October date and that it will mail a check for any account holders who do not withdraw their balances by then.
In his remarks following the release of the Division of Gaming Enforcement’s (DGE) June 2023 numbers late last week, New Jersey Casino Control Commission Chairman James Plousis commented that, “Atlantic City’s casino hotels are building synergy between online and traditional gaming by providing customers the opportunity to enjoy the diverse experiences of a destination resort.”
Some of the toplines of that report include:
Brick-and-mortar gross gaming revenue (GGR) for the nine casino hotel properties hit $241.6 million in June — a 5.4% increase versus last year;
Year-to-date brick-and-mortar GGR was $1.36 billion — a 3.5% increase over last June;
Internet gaming win was $149.3 million, reflecting 12.1% growth compared with June 2022;
The June sports betting handle was $591.1 million — down 24.1% and 6.6% from this May and June 2022, respectively;
June’s sports betting revenue was $66.4 million — down 19.2% from this May, but up 69.1% from June 2022;
Total GGR reported by casinos, racetracks and their partners was $457.2 million in June — a 13.9% increase from June 2022;
Year-to-date total GGR by casinos, racetracks and their partners was $2.73 billion — a 12.1% increase from the previous year.
Plousis described the report as a positive start to the summer season for Atlantic City.
“Gains in all three reported areas – casino win, internet gaming win, and sports wagering revenue – demonstrate that online and traditional gaming are a winning combination,” Plousis explained. “Last month, casino win was the highest reported for any June in 11 years. Total gaming revenue exceeded $400 million for a fourth consecutive month.”
Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism (LIGHT), Stockton University School of Business, noted in her analysis of the report that in the first six months of 2023, Atlantic City’s casino operators have generated $2.47 billion in total GGR, approaching the entirety of 2015, 2016 and 2017, when the city claimed more than $2.5 billion in total GGR.
As further evidence of the segment’s growing importance to the overall gaming revenue mix, Bokunewicz also pointed out that over a third of 2023 revenue has been generated by internet gaming, which was recently authorized for another five years during the home stretch of the state budget process.
But there are some concerns about getting people back to all of the properties in this new, post-pandemic normal.
“Although the first six months of the year surpassed the same period in 2022 and every year since 2014 for brick-and-mortar GGR, when the city’s two newest properties Hard Rock and Ocean are excluded, the seven other properties fell short of their pre-pandemic levels,” Bokunewicz explained. “Between 2015 and 2019, the seven casinos consistently generated over $1 billion in brick-and-mortar GGR in the first half of the year. At $931.1 million for the first half of 2023, and $911.5 million in the first half of 2022, the properties have yet to achieve this milestone post-pandemic.”
The $100 million Island Waterpark at The Showboat Resort in Atlantic City covers 120,000 square feet and holds more than 317,000 gallons of water. Click here to read more.
Bokunewicz stressed that it is important to remember that the monthly gross gaming reports offer only a glimpse into the gaming side of the casino resort operations, especially as Atlantic City makes a concerted effort to diversify and expand its non-gaming options as it looks to attract more visitors, NJBIZ has reported.
“When the Division of Gaming Enforcement releases the second quarter report for 2023, which will also include revenue from nongaming resort operations, we will have a more complete picture of the state of the industry in Atlantic City,” said Bokunewicz. “If trends we saw disrupted by the pandemic reestablish themselves, we may see Atlantic City’s operators embrace a more ‘Las Vegas’ approach to their gaming and nongaming revenue balance with the greater share of on-property revenues generated by activities off the gaming floor.”
Coordinated and overseen by the Office of the Attorney General and New Jersey Division of Gaming Enforcement (DGE), Thursday’s announcement at the Hard Rock Hotel & Casino Atlantic City builds on previous developments through a series of steps, including:
Establishing a new position dedicated to responsible gaming;
Setting new advertising standards for operators;
And simplifying access to self-exclusion for players struggling with a gambling disorder.
“I’m proud today to announce the next phase of our focus on responsible gaming,” said Platkin during his address. “Specifically, I’m announcing today that the Division of Gaming Enforcement is creating a new and dedicated position to serve as its Coordinator of Responsible Gaming. This position will be filled by an experienced attorney within DGE who will serve in this new role and report directly to the director, and ultimately, me, on all issues impacting responsible gaming, including the progress on the initiative I just discussed.”
NJBIZ has previously reported on the state’s work in this space. In February, Platkin and the DGE announced the rollout of that new Responsible Gaming Initiative, referenced in the attorney general’s remarks, which aims to identify and help gamblers at risk of addiction by using data collected by gaming operators about players’ online betting behavior. As part of that program – the first-of-its-kind implemented in the country – the DGE is working with online wagering companies, using technology to identify and work to address at-risk patrons.
Big leagues
A group of sports leagues and media entities announced the formation of the Coalition for Responsible Sports Betting Advertising, a voluntary association aimed at doing its part to help ensure a responsible approach to sports betting advertising. Click here to see who joined.
Operators will now be required to analyze data to determine whether a player is showing signs of problem gambling behavior.
New online and sports gambling advertising standards, which officials say make it clear that operators must make responsible gaming a priority, include:
Displaying prominently New Jersey’s 1-800-GAMBLER hotline in their ads;
Ending dubious promises of “guaranteed wins” or “risk-free” bets if the patron will not be fully compensated for the loss of their funds;
Making wagering requirements clear in their terms and conditions;
Limiting advertising in locations where it would entice those under 21 years of age to play;
And providing the public with the ability to swiftly opt out of direct advertising.
Opting out
Another initiative announced Thursday will make it easier for players with problem gaming behaviors to remove themselves from the industry via the state’s self-exclusion program, which currently allows players to voluntarily prohibit themselves from accessing casinos’ floors through in-person appointments with specifically trained DGE staff, or from online gaming through an application. Now, the DGE is taking that a step further by creating a video-conference option to allow players to escape from problem gambling without having to leave their homes.
DGE is also establishing a 24/7 hotline dedicated to assisting people with questions about the self-exclusion program and the process for signing up.
The 26th Annual East Coast Gaming Congress took place April 19-20, 2023, at the Hard Rock Hotel & Casino in Atlantic City. – MATTHEW FAZELPOOR
“We have seen tremendous growth in sports wagering and online gaming in New Jersey,” said DGE Director David Rebuck. “In the face of that boom, we have a duty to protect the public from advertising that could be misleading or harmful. And for those in the grip of gambling addiction, we need to offer as many exit ramps from their condition as possible.”
“As New Jersey’s gaming and sports wagering industries continue to grow and mature, so do our obligations to assist patrons who are at risk for problem gambling,” said Platkin. “By establishing a dedicated, senior level position within the Division of Gaming Enforcement to focus on responsible gaming, we are sending a clear message that we take this work seriously – and so should the industry. Our other initiatives announced today will help protect consumers and make it easier for individuals to access the help they need when their gaming behavior becomes problematic.”
“We congratulate Attorney General Platkin and DGE Director David Rebuck for their continued leadership in responsible gambling. The initiatives announced today further bolster responsible gambling protections and reduce barriers for people seeking help,” said Keith Whyte, executive director of the National Council on Problem Gambling. “We hope regulators across the country will emulate New Jersey, including by working with the National Council on Problem Gambling and our state affiliate chapters, such as the Council on Compulsive Gambling of New Jersey.”
The annual conference where the announcements were made brings together leaders and stakeholders from throughout the gaming industry, featuring an impressive array of speakers and panels, as well as an exhibit hall, receptions, networking opportunities and more.
NJBIZ will have a further recap of the conference an upcoming issue.
A group of sports leagues and media entities announced the formation of the Coalition for Responsible Sports Betting Advertising April 19, a voluntary association aimed at doing its part to help ensure a responsible approach to sports betting advertising.
The coalition includes: the National Football League, Major League Baseball, Major League Soccer, NASCAR, National Basketball Association, Women’s Basketball Association, National Hockey League, NBCUniversal, and Fox.
As the initiative gets underway, the group has committed to implementing and maintaining consumer protection policies consistent with six guiding principles:
Sports betting should be marketed only to adults of legal betting age
Sports betting advertising should not promote irresponsible or excessive gambling or degrade the consumer experience
Sports betting advertisements should not be misleading
Sports betting advertisements should be in good taste
Publishers should have appropriate internal reviews of sports betting advertising
Publishers should review consumer complaints pertaining to sports betting advertising
“We’re proud to join these prominent sports industry stakeholders in this important effort,” said David Highhill, general manager, Sports Betting, NFL, in a press release. “Legalized sports betting offers fans another way to engage with their favorite sports, but just as we must support problem gambling prevention and resourcing, we must also remain mindful of how sports betting is presented and advertised to consumers, and this coalition should greatly aid in that cause.”
“Forming this coalition with fellow leaders in sports and entertainment is another important step for our industry as legal sports betting continues to grow,” said Kenny Gersh, executive vice president, Media & Business Development, MLB. “While providing new fan engagement opportunities to enjoy our sport in more ways, we have to continue to be mindful and deliberate with how these sports betting options are presented and to whom they’re directed. Layering this coalition’s work in the advertising arena on top of our efforts to responsible gambling and address problem gambling challenges that will lead to more thoughtful planning and implementation across the board.”
“The NBA and the WNBA are proud to join this coalition of industry leaders dedicated to prioritizing and standardizing responsible sports betting advertising,” said Scott Kaufman-Ross, head of gaming and new business ventures, NBA and WNBA. “These fundamental efforts will contribute to creating a safe, entertaining and sustainable market for sports fans to engage with legalized sports betting.”
The effort comes amid growing efforts to address responsible gaming as this nascent legalized sector continues to take shape here in New Jersey and across the country. NJBIZ has reported on several instances of those efforts in recent months while the legalized sports betting industry looks to continue building a framework of standards and practices that will sustain it as the industry evolves.
“This is a landmark event for the industry,” said Bill Pascrell III, faculty member of the Gaming Law, Integrity, and Compliance Bootcamp. “The Bootcamp has trained countless gaming industry professionals in best practices, compliance, and integrity, all of which help make the gambling industry more impactful and responsible.” – SETON HALL LAW
Last month, the Responsible Gaming Coalition welcomed three new members to its group, which features a cohort of the largest online gaming operators in the country who came together to agree on industry-led responsible gaming standards. That followed efforts laid out in February by New Jersey’s attorney general and the state Division of Gaming Enforcement, establishing a new Responsible Gaming Initiative to identify and help gamblers at risk of addiction by using data collected by gaming operators about players’ online betting behavior.
“This is a landmark event for the industry,” Bill Pascrell III, faculty member of the bootcamp, and partner at Princeton Public Affairs Group, told NJBIZ at the event. “The Bootcamp has trained countless gaming industry professional in best practices, compliance, and integrity, all of which help make the gambling industry more impactful and responsible.”
Hoboken-based Prophet Exchange, the nation’s first fully regulated, peer-to-peer high-frequency sports betting exchange, announced April 10 it secured more than $10 million in a new line of funding.
The backing comes less than a year after the company’s official launch in New Jersey last August, which has seen steady growth and momentum that included $1 million traded on this year’s Super Bowl. It plans to use this funding to look inward and develop the best, most innovative product in this rapidly emerging market.
As NJBIZ has chronicled, Prophet Exchange, founded in 2018 by Dean Sisun and Jake Benzaquen, utilizes its peer-to-peer platform to match users’ potential bets with others across New Jersey, offering money line, spread and total markets for NFL, NBA, NHL, MLB, and college basketball and football games.
The company plans to add new markets and sports such as soccer, tennis, golf, UFC and more in the near future.
“As excited as we are to enter the emerging market of sports betting, we are a tech company at heart,” said CEO and co-founder Sisun in a press release. “We are a scrappy, lean, and agile firm in a sea of behemoths, which allows us to respond to changes and capitalize on opportunities at a moment’s notice. This round of funding will let us continue as disruptors in the betting space and push our fast-moving product forward in this blossoming market.”
Prophet’s operation first began in the United Kingdom, passing necessary licensing and compliance while proving its proof of concept overseas before the team moved back home in 2020 to work with New Jersey regulators to develop exchange rules and regulations in a then-sportsbook-dominated environment. As the legal sports betting market continues to grow throughout the country, Prophet believes that its proprietary technology and product uniquely position it to capitalize on the growing sector to cement itself as the “people’s exchange of choice.”
Prophet says the benefits of its exchange include: that each user wins more or loses less on every single bet because there is no vigorish (or vig) as with traditional sportsbooks; there are no limits on the amount of money users would like to wager; users can trade in and out of positions on tight margins; and can make offers on outcomes of their desired prices as with financial exchanges.
Currently, only users within New Jersey can place bets on the platform. But, users across the country can download the app to view the lines and learn the ins-and-outs of peer-to-peer exchanges.
“To be frank, something has always bothered us about ‘the house always wins,’” said COO and co-founder Benzaquen. “At Prophet, we win only when the user wins. As the first pro-consumer betting exchange in the country, we believe it’s time for the house to lose a few hands.”
Prophet also boasts New York Giants legend, Super Bowl champion and Paterson native Victor Cruz as a strategic partner and brand ambassador.
“Prophet’s current mission is to dominate the straight bet experience in the U.S. Best-in-market prices, creating offers with requested prices, unlimited action, and frictionless trading in and out of positions with lower capital requirements make up that experience,” said Sisun. “From there, over the long term, Prophet’s mission will evolve to scaling across states with a suite of unique betting products at a speed unforeseen by our competitors.”
Just one year after the mighty Saint Peter’s University Peacocks captured America’s attention with its unexpected Elite Eight run in the NCAA Tournament, another unlikely No. 15 seed from New Jersey, the Princeton Tigers, are taking a turn in the spotlight, creating their own March Madness magic in the great Garden State.
The Tigers’ Cinderella run began March 16, with a major upset of the second-seeded Arizona Wildcats in a game ending 59 to 55. Princeton followed that up with an emphatic win March 18 over the seventh-seeded Missouri Tigers, by a score of 78 to 63. They look to continue that run Friday night, as the Tigers square off with the sixth-seeded Creighton Bluejays, at 9 p.m. from Louisville.
That game is being broadcast on TBS. It will be the school’s first Sweet 16 appearance since 1967.
All that build up has brought Princeton and New Jersey, again, to the center of not just the basketball world, but the public’s consciousness. The school, the players and the coaches are making the media rounds, seemingly popping up everywhere over the last few days, creating a palpable excitement ahead of the March 24 game.
On Wednesday, Gov. Phil Murphy and First Lady Tammy Murphy visited the team at practice.
“Dropped by Jadwin Gym with @FirstLadyNJ to wish Coach Henderson and the @PrincetonMBB team good luck as they prepare for this weekend’s Sweet 16,” Murphy tweeted. “Let’s go Tigers! #MakeShots #MarchMadness”
“What a special day to have @GovMurphy visit with the Tigers today,” coach Mitch Henderson tweeted Wednesday. “He knew everything about the team and shared key advice-keep going!! Yes!”
What a special day to have @GovMurphy visit with the Tigers today. He knew everything about the team and shared key advice-keep going!! Yes! https://t.co/yThQ51eZtN
It has truly sparked a feeling of déjà vu in New Jersey on the heels of that magical Peacocks run last year, which led to life-changing opportunities through name, image and likeness (NIL) deals and more for its players and coaches, as well as unprecedented attention and marketing for the school.
Princeton is now getting to experience that ride, and feeling the unmatched loved from the Garden State community.
A student watch party is being held at Princeton’s Whig Hall for the Bluejays game, while a community watch party will take place Winberie’s on Palmer Square.
Departed Soles in Jersey City is honoring FDU and Princeton with a special release. – DEPARTED SOLES BREWING CO.
Last weekend, in honor of the Princeton run, as well as 16-seeded Fairleigh Dickinson University’s shocking 63-58 upset of first-seeded Purdue University (FDU was defeated 78-70 by Florida Atlantic University’s Owls in the Round of 32), Jersey City-based Departed Soles Brewing Co. released a riff on last year’s Saint Peter’s celebratory beer, Busted Bracket, by issuing a super limited, special release honoring both FDU and Princeton. The beer is a tangerine IPA with a label featuring the state of New Jersey, a Princeton Tiger and an FDU Knight, along with the text, “Don’t Mess with NJ 2023.”
Running down a dream
Earlier this year, NJBIZ caught up with Johnny Avello, a sports betting industry icon and director of race and sportsbook operations at DraftKings, who noted that Saint Peter’s was the most lucrative team for bettors who rode their run in all states last year.
Of course, New Jersey bettors are prohibited from wagering on any college sports involving in-state schools. That means that any Garden State bettor wishing to place a legal wager on Princeton would have to go over the border to either New York or Pennsylvania, or to any other state with legal sports wagering.
Ahead of Friday night’s matchup, NJBIZ circled back with Avello to gauge how Princeton’s run compares to the Saint Peter’s 2022 run to the Elite Eight.
“The difference for us this year was that Saint Peter’s first two games, we lost on both of those games,” said Avello. “And we had a huge hazard on them to win the whole thing. Well, that’s not the case with Princeton this year because both games we actually won money. And we’re not in horrible shape here for the future book. I think the belief on Saint Peter’s was a little higher than it is for Princeton. Although, I think Princeton’s probably got an easier route to get there.”
Avello feels like Princeton being an Ivy League school may have something to do with that lack of confidence by the betting public.
I think the belief on Saint Peter’s was a little higher than it is for Princeton. Although, I think Princeton’s probably got an easier route to get there. – Johnny Avello, director of race and sportsbook operations, DraftKings
“I’m not sure anybody is believing that an Ivy League school can win this whole thing,” said Avello, but he noted that Princeton’s road is not insurmountable, beginning with Friday’s matchup with Creighton, who are 23-12 on the year.
In that game, Princeton is about a 9.5-point underdog, as of this writing. They have about 150-1 odds on DraftKings to win the whole thing.
When NJBIZ spoke to Avello on Thursday, that spread had dropped from an opening line of Princeton +10.5 to +10, with the expectation that number could dip further as more action came in on the Tigers.
“I wouldn’t be surprised at all if this game goes to 9.5 because it’s a lot of points in a game with a team that’s smart and can hang around,” Avello presciently said March 23. “So, I think there’s going to be a lot of bets on them plus the points. The total has been driven down from 140.5 to 138. The bettors are anticipating it to be an under game. And that’s how they’d [Princeton] have to win. If they’re going to win this game, they’d have to keep this low scoring.”
Avello noted that the Princeton run has created buzz for the Sweet Sixteen, which got underway with four games last night, and that it would create even more excitement if they continued their Cinderella run. But ultimately, he said, the bookmakers don’t try to root one way or the other.
“You can root all you want. But the teams are going to do what they’re going to do,” he said. “So, as bookmakers, we just put up the numbers. Let the people bet them. And whatever happens, happens. Rooting doesn’t do any good whatsoever. We put those numbers up and let people bet them. Sometimes it works out for us. Sometimes it doesn’t. And that’s the way bookmakers play the game.”
The Garden State is behind the Tigers, and hoping they can continue the Jersey March Madness magic with a victory over Creighton to advance to the Elite Eight on Sunday. #MakeShots.
As March Madness gets into full swing, the American Gaming Association (AGA) is out with research showing that 68 million American adults (26%) plan to wager more than $15 billion on the NCAA Men’s Division I Basketball Tournament this year.
Selection Sunday yielded some disappointment for New Jersey as Rutgers University narrowly missed the field. But, Fairleigh Dickson University (FDU) and Princeton University will represent the Garden State in the annual tournament.
Of course, in-state bettors will not be able to wager on games involving those schools because of provisions in the state’s sports betting law that prohibits wagering on games involving New Jersey colleges and universities. Last year, while bettors nationwide rode the Saint Peter’s Peacocks Cinderella run, New Jersey players were unable to get in on the action—at least legally.
The AGA survey found that 31 million American adults plan to place a traditional sports wager online, at a retail sportsbook, or with a bookie, while 21.5 million plan to bet casually with friends and 56.3 million plan to participate in a bracket contest.
“March Madness is one of the best traditions in American sports – and America’s most wagered-on competition,” said AGA President and CEO Bill Miller. “Critically, the expansion of regulated sports betting over the past five years has brought safeguards to more than half of American adults who can now bet legally in their home market.”
Notably, the AGA finds that 18 million more American adults plan to wager on March Madness than last month’s Super Bowl—but, will wager half a billion dollars less on the tournament than they did for the football championship.
More than half of American adults, 146 million (57%), currently live in a live, legal sports betting market across 33 states and Washington, D.C., including Kansas, Massachusetts, Ohio and Maryland, which commenced wagering since last year’s tournament. Three additional legal markets await launch.
Three-fourths of online bettors say this will be their first-time betting on March Madness online.
With all of this, the AGA says, comes the need to almost promote responsible gaming. AGA is emphasizing its Have A Game Plan. Bet Responsibly campaign, which provides tools and resources to help play safe and responsibly.
“With the excitement around March Madness, the AGA and our members want to remind anyone getting in on the action to have a game plan to bet responsibly,” Miller added. “That means setting a budget, knowing the odds, keeping it social, and always playing legally.
Tipico, a German online gaming company and one of the largest in the sector worldwide, opened its Hoboken office in August 2021 and continues to gain its foothold in the U.S. market.
As part of this new partnership, Tipico is selecting one attendee at the Women’s and Men’s Championship on Saturday to take a half-court shot with the chance to win $1,000.
Attendees of the tournament, which takes place at Jim Whelan Boardwalk Hall, will be able to enter a raffle with one of the two chances to take the half-court shot during the games. For its new and existing users, Tipico is also setting up a VIP lounge filled with swag, TVs to watch other games, and a food voucher.
“We are thrilled to become the official sports betting app partner of such a prestigious championship that produced one of the greatest Cinderella stories in college basketball history just one year ago,” said David Paschkes, chief commercial officer at Tipico, in a statement.
Paschkes added that taking the game-watching experience to the next level at this tournament during March Madness reflects Tipico’s dedication to its fans.
“Basketball is one of the top sports to bet on, with March Madness seeing 30% more money wagered on it than the Super Bowl across the industry,” said Paschkes. “It’s only natural for us to provide these fans with unmatched experiences and create slam-dunk moments as they enjoy their favorite game.”
A big score
Jim Whelan Boardwalk Hall, shown in this 2014 file photo. – AARON HOUSTON
The news follows an announcement earlier this week that the MAAC and Jim Whelan Boardwalk Hall reached a three-year agreement that will keep the annual conference championships at the site though 2026.
“I am pleased to announce the selection of Atlantic City’s Jim Whelan Boardwalk Hall as the site for the 2024-26 MAAC Men’s and Women’s Basketball Championships,” said MAAC Commissioner Rich Ensor. “I want to thank all the facilities that bid to host the championships which reflects the continued interest in the event and the value it brings the host community.”
“As the host institution, Rider University is excited to partner with the MAAC and Jim Whelan Boardwalk Hall to host the MAAC Men’s and Women’s Basketball Championships in Atlantic City,” said Don Harnum, Rider director of athletics. “Personally, I would like to thank the committee who oversaw the process as well as Jim McDonald, general manager, for their diligent work and commitment to secure a positive future for this high-profile NCAA Division I Basketball Championship.”
“We are excited for the opportunity to continue the relationship with the MAAC to host the Men’s and Women’s Basketball Championships for an additional three years,” said McDonald. “Atlantic City and Jim Whelan Boardwalk Hall will continue to provide a great destination and venue for the student-athletes, administrators, and spectators.”
Seton Hall Law’s Gaming Law, Compliance, and Integrity Bootcamp, taking place March 6-7 in Newark, is designed to provide attendees with the tools and best practices to help prevent, detect, and mitigate corruption and fraud in gaming. – MATTHEW FAZELPOOR
The fourth edition of Seton Hall Law’s Gaming Law, Compliance, and Integrity Bootcamp got underway in Newark March 6.
The two-day event, billed as the premier gaming compliance program on the East Coast, is designed to provide attendees with the tools and best practices to help prevent, detect, and mitigate corruption and fraud in gaming.
It also offers the opportunity to bring together a rare collection of leaders from the gaming operator side, the regulatory side and the legal side, along with other stakeholders, to discuss issues and challenges as the industry grows and evolves, especially in the sports betting and online gaming sectors.
Devon Corneal, assistant dean gaming, hospitality, entertainment, & sports law, Seton Hall Law School, told NJBIZ that an event like this is vital to help students learn the ethics and legal framework of this sector while also providing people in the industry the opportunity to get a really strong foundation about those issues.
Seton Hall Law’s Gaming Law, Compliance, and Integrity Bootcamp brings together leaders from the gaming operator side, the regulatory side and the legal side, along with other stakeholders, to discuss issues and challenges as the industry grows and evolves, especially in the sports betting and online gaming sectors. – MATTHEW FAZELPOOR
“To learn to identify problems before they become a problem, to head them off, to prevent them,” Corneal explained. “And then to address in really effective ways, any issues that come up. We’re here to give the industry the opportunity to learn, but also to meet with each other and connect with each other. And I think, if the industry is going to grow and be a compliant, sustainable one, these kinds of events are vital.”
She pointed out that because a lot of this space is still very much developing, many of the problems are going to be new and novel ones that have not been encountered before. So that dialogue between the different stakeholders is important to make sure everyone is on the same page.
“So let’s make sure that we are providing them with the tools to make it as clear, legal, and compliant as we can,” said Corneal.
She described the event as a great opportunity for the Garden State to be at the center of those conversations for a sector in which it is an industry leader.
“It’s really important because New Jersey has been a leader, both on the regulatory side and in leading the litigation that overturned PASPA (Professional and Amateur Sports Protection Act of 1992) that led to sports betting,” said Corneal. “And I think it’s great for our students. It’s great for everyone here to bring people from the West Coast, the South, the Northeast, and see that our regional questions are really national questions. And we can have that conversation here in New Jersey.”
William Pascrell III, partner, Princeton Public Affairs Group Inc., is one of the key organizers of the event and instrumental in bringing it to his alma mater. Pascrell is also a trustee for Entain Foundation US, which funds the bootcamp. The foundation is a nonprofit arm of Entain, one of the world’s largest sports betting and gaming groups, which is dedicated to promoting responsible gambling throughout the country.
Pascrell echoed the sentiments about New Jersey serving as a leader in the gaming industry, crediting its regulators for preserving that role. And he added that he has been working with regulators to further develop standards for sports betting and other evolving forms of online gaming to ensure integrity, compliance and legitimacy.
He said that events like this helps move toward that goal and, like Corneal said, increase that dialogue between the different stakeholders as the industry goes through its maturation process. Pascrell added that it is a rare opportunity for the students to communicate with the top industry leaders in an intimate space—getting a chance to build their rolodex in the meantime.
“These are the pros of the industry educating you on everything from ethics to compliance,” said Pascrell. “You get immersed in the industry over two days and just get to learn.”
A full list of the speakers and panels can be found here.
The March 13 edition of NJBIZ will take a closer look at some of the topics discussed by the panels during the event.
Just days before bettors put their wagers in for the Super Bowl, New Jersey Attorney General Matthew Platkin and the New Jersey Division of Gaming Enforcement (DGE) announced Feb. 7 a new Responsible Gaming Initiative to identify and help gamblers at risk of addiction by using data collected by gaming operators about players’ online betting behavior.
As part of the program – the first-of-its-kind in the country to be implemented – the DGE will work with online wagering companies, using technology to identify and work to address at-risk patrons. Operators will now be required to analyze data to determine whether a player is showing signs of problem gambling behavior.
The state says that these new requirements, which apply to online wagering, will supplement existing responsible gaming safeguards.
“It is no coincidence that our announcement comes just a week ahead of one of the biggest days in sports wagering, serving as a reminder of how devastating a gambling addiction can be,” said New Jersey Attorney General Matthew Platkin.
“It is no coincidence that our announcement comes just a week ahead of one of the biggest days in sports wagering, serving as a reminder of how devastating a gambling addiction can be,” said Platkin. “This new initiative will allow the Division of Gaming Enforcement to work with the gaming industry to identify problematic patterns in player wagering behavior and intervene before they escalate.”
Officials note that this player data is already collected by operators from its players, who consent to having their play monitored and recorded to prevent issues such as fraud, identify theft, theft, and cheating, as part of the terms and conditions in user agreements they sign. That data, they say, will now be used in this new way, to uncover potential problem gambling patterns.
The DGE has set up parameters of warning signs for operators to look for and platforms will also monitor for account activity that could indicate problem gambling.
“We are using data to identify at-risk players, alert them to their suspected disordered gambling, and inform them about available responsible gambling features in online platforms and corrective actions they can take,” said DGE Director David Rebuck. “This new approach will enable dedicated responsible gaming experts employed by the platforms and us to see the early warning signs and reach at-risk patrons before they find themselves in a financial catastrophe.”
“Given the increasing popularity of online gambling, initiatives such as this are more important than ever,” said Grondin. “This effort, in conjunction with our virtual and in-person problem gambling trainings for industry employees, makes for a more thorough approach to identify and assist those who may be suffering.”
Johnny Avello, director of race & sportsbook operations at DraftKings, said it is important to offer both the ease and flexibility of digital wagering as well as live betting at a brick-and-mortar location.
Just watch any game, especially the National Football League Playoffs, and it does not take long to realize how big the legal sports betting business and culture has become in just a few short years since the landmark 2018 Supreme Court ruling that opened the door for legal sports wagering across the country.
Of course, New Jersey was at the forefront of that effort, both in leading the litigation and becoming the first state to jump on the new reality authorizing sports betting. Since that time, the Garden State has become a leader in the space, consistently putting up big numbers, especially during football season with monthly handles regularly cracking the $1 billion threshold. The state now faces more competition, as New York, Pennsylvania and other neighbors establish their own foothold in the burgeoning industry.
Earlier this month, Johnny Avello, DraftKings director of race & sportsbook operations and a legend in the industry who is based in Las Vegas, spoke to NJBIZ about some of the 2022 highlights and trends, as well as a look ahead to 2023.
The discussion, on the heels of the World Cup, started with the tournament that took place in Qatar at the end of 2022 instead of during its customary summer slot. The change in season did nothing to dent the excitement that the tournament produced, culminating with an epic championship match between Argentina and France.
“That was amazing. Really was,” said Avello. “Expectations were moderate for that, and it just exceeded expectations.”
He said the unusual timing of the tournament was the reason that expectations were a bit muted. “Usually during the summer, it’s an isolated period. It’s the only thing going on except baseball,” Avello explained. “So, it attracts quite a bit of business. We weren’t sure what it would do going up against football in November. But it did very well.”
The next World Cup in 2026 will be held in North America, with New Jersey/New York serving as a host city and MetLife Stadium slated to host matches. – OFFICE OF GOV. PHIL MURPHY
Avello added that the success sets the stage for the next World Cup in 2026, which will be held in North America, with New Jersey/New York serving as a host city and MetLife Stadium slated to host matches.
As he recapped some of the 2022 highlights, at the top of that list was the magical run by the Saint Peter’s University Peacocks in the NCAA basketball tournament. In fact, the Peacocks were the most lucrative team for bettors, making them the most money in all states on the DraftKings Sportsbook last year.
Of course, because of the rules preventing wagering on college games here in the Garden State, New Jersey bettors were largely shut out from that windfall, unless they traveled across state lines, or made other arrangements.
“I’m always excited to see a team make a run at the NCAA tournament,” said Avello. “And usually when it’s a team as big of an underdog as a Saint Peter’s is, you’re going to get dinged when they win. And in that first game against Kentucky, they were an 18-point underdog, +1,600, which is 16 to 1 on the money line. We took a pretty good hit on that.”
That means on a $100 wager, bettors took home $1,600.
And that Cinderella run just built from there, when the Peacocks were a nine-point underdog against Murray State, followed by a 13-point underdog against Purdue, including 6 to 1 on the money line.
“So here we are with three straight Saint Peter’s games where the house is taking a hit,” said Avello. “Meanwhile, we’re building up this liability for them to win it all. And it kept growing. It was in the millions. I didn’t think they could win it all. But they certainly gave it all they had for every game they played. And the players did really well across the country.”
The baseball season also yielded some area excitement with the Yankees, Mets and Phillies all performing well and making it to the postseason.
That set the stage for the football season, which has taken on a much different tenor here in New Jersey since Avello spoke with NJBIZ earlier this month. While Eagles fans have gotten to ride high all year on their way to winning the National Football Conference – Eastern Division and clinching the No. 1 seed, Giants and Jets fans came into the year with lower expectations. And while the Jets ended up fading out after some early season glimmers of hope, the Giants have come on strong over the last few weeks, clinching a playoff berth and beating the Minnesota Vikings in the Wild Card Round, and moving on to face the Eagles in Philly this past weekend in the Divisional Round.
Avello, who admitted he is a Giants fan, said that coming into this year New Jersey bettors were not really riding the Giants with win total bets or future wagers on the team’s success, after the last few seasons of futility. But following the playoff berth and the thrilling first round win against Minnesota, Giants fans are buzzing once again. Adding in a playoff matchup with the rival Eagles was expected to yield some huge wagering numbers.
“I love the Giants being in the playoffs because between New Jersey and New York, the East Coast, there’s going to be a lot of action on the Giants,” Avello told NJBIZ before the first-round win and before the matchup with Philadelphia.
“The Giants, they aren’t America’s team. But what happens is with New Yorkers like myself, spread out, being on the West Coast or in Nevada and others in California, there’s Giants fans throughout the country. So, there’s a huge contingent of fans everywhere,” said Avello.
Avello also shared that New Jersey bettors had the fifth-highest winning percentage of any state in the country last year.
He said that the pandemic was hard for the industry, but sportsbooks have weathered the storm and continue to see the growth around the country as more states come on line, technology continues to improve, and betting gets more ingrained into mainstream sports coverage and pop culture.
“I expected that it was going to be this big,” said Avello. “But I must admit to you, prior to the [betting restrictions] being overturned, go back five years. I never thought it was going to happen anywhere but Nevada.”
Gov. Phil Murphy places the state’s first sports bets at Monmouth Park in 2018.
Avello said he thought there were too many hurdles to clear to get to this point. “But once it was overturned, then I knew that it would be huge throughout the country,” he said. “Because all these states were going to come on board and, eventually, we’d get to probably 85% of all states.”
He added that it is important to offer both the ease and flexibility of digital wagering as well as live betting at a brick-and-mortar location. “They’re both great fun,” said Avello. “People like that camaraderie to be around others, watch games, yell, scream, drink, have fun, talk to the ticket writers. Most like to bet digitally because it is easy, and it is convenient. You can bet anywhere as long as you’re within the boundaries of the states that we’re in.”
In-game wagering has grown in popularity as well, Avello said, which typically needs to be done on a phone since it happens so fast.
As for 2023 and beyond, Avello said New Jersey will have to continue contending with regional competition, especially from New York. “Let’s face it. We all knew that there were a lot of New Yorkers crossing over the border to make wagers, and now they can stay at home,” he explained. “But Jersey’s done a great job since New York came on board. They still have a good handle. There’s still new users coming on board from New Jersey. So, it’s one of our premier states.”
The December gaming numbers for New Jersey showed a handle of $1.056 billion, which while strong, was still a drop of 4.1% from November and down 14.2% from December 2021. The total sports betting handle in New Jersey for 2022 was $10.945 billion, up 0.08% from 2021 while total sports betting revenue was $762.954 million, down 6.5% from 2021.
“The year-over-year gains in wagers slowed down in 2022, with only a 0.08% increase from 2021’s overall handle,” said TopNJCasinos.com in an analysis of the December numbers. “While $10 billion in a year is nothing to shake a stick at, New Jersey is used to handle increases of over 80% (2020-2021’s year-over-year value). Sports betting has been active since 2018, which means this may indicate that the state’s market is reaching a plateau, especially as sports wagering picks up momentum in nearby states.”
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