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The online sports betting options in New Jersey is set to grow some more as Pennsylvania casinos express their wish to hop on to the state\u2019s betting bandwagon.<\/p>\nThe online sports betting options in New Jersey is set to grow some more as Pennsylvania casinos express their wish to hop on to the state\u2019s betting bandwagon.<\/p>\n
The New Jersey Division of Gaming Enforcement (DGE) announced on Tuesday that it has given Australian gaming operator PointsBet the go-ahead to commence \u201csoft play\u201d online sports betting, partnered with Meadowland Racetrack. They announced their sports-betting tie-up in July.<\/p>\n
The existing sports betting law in New Jersey allows state racetracks and casinos of Atlantic City to offer three betting \u201cskins\u201d individually and there\u2019s already a functioning land-based and online betting deal between the Meadowlands and Paddy Power Betfair\u2019s US-facing FanDuel brand.<\/p>\n
PointsBet offers the traditional fixed-odds sports betting alongside its trademark Points Betting offering, that weds traditional point spread wagering with spread betting, i.e. usually associated with financial markets. It has increasingly come under regulatory scrutiny in Europe in the last few years because of some outsized losses suffered by customers.<\/p>\n
PointsBet\u2019s own betting product allows those betting to take more risk in order to gain greater rewards (or perhaps, losses) depending on the proximity of the prediction and the final outcome.<\/p>\n
New Jersey\u2019s sports betting numbers fell surprisingly low in October with betting handle hitting a record $260.7m and a revenue drop to $11.7m \u2013 less than the midway figure for September. DGE, which is, all ready to announce New Jersey\u2019s sports betting numbers for November on Wednesday has its hopes pinned on the state to bounce back from October\u2019s disastrously low figures.<\/p>\n
Pennsylvania Casinos Want to Cash in on Betting Profits Too<\/strong><\/p>\n Applications for five casinos have been approved so far by the Pennsylvania Gaming Control Board (PGCB) allowing them to add sports betting to the services they offer. However, only one out of these five \u2013 Penn National Gaming Hollywood Casino at Penn National Racecourse has begun taking wagers.<\/p>\n Presque Isles Dawn and Casino, acquired by Churchill Downs Inc, earlier this spring had sent in its sports betting application to the PGCB for approval towards the end of last week, according to GoErie.com. The property has requested to be able to offer wagers offline at its venue as well as through online and mobile channels.<\/p>\n The Mount Airy Casino Resort is yet another enterprise which has sought permission from PGCB to be able to offer sports betting. It is yet to be seen if it’s granted the requisite permissions.<\/p>\n","protected":false},"excerpt":{"rendered":" The online sports betting options in New Jersey is set to grow some more as Pennsylvania casinos express their wish to hop on to the state\u2019s betting bandwagon. The New Jersey Division of Gaming Enforcement (DGE) announced on Tuesday that it has given Australian gaming operator PointsBet the go-ahead to commence \u201csoft play\u201d online sports […]<\/p>\n","protected":false},"author":4,"featured_media":23391,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3,8,18],"tags":[],"class_list":["post-37034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","category-igaming","category-latest","category-n-america"],"yoast_head":"\n