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Is the New Jersey SPortsBetting Market Worth $11 Billion

A pragmatic reason for NJ businessmen to rally around stalled betting law.
Numbers that have emerged during the litigation between the state of New Jersey and the US national sports leagues over sports betting show that an expert assessment values the potential market at an impressive $11 billion - surely an incentive for gambling businesses to get behind the state in pushing for sports betting legalisation.
The revelation came about when Dennis Drazin, who operates Monmouth Park for the state’s thoroughbred horsemen, asked the track's partner in the sports-betting venture, the US division of William Hill plc, to provide an assessment to assist the court in arriving at an appropriate bond for the sports leagues opposing the introduction of New Jersey sports betting.
The presiding judge in the case, Michael Shipp, appeared to accept the William Hill estimate and set a $3.4 million value on the bond, which the leagues must post to protect Monmouth from the business it would have lost should he void his preliminary ruling and decide against a permanent injunction.
The publication North observed that the estimate represented a three-fold greater market size than the sports betting market in Nevada - currently the only real competition, noting that New Jersey racetracks and land casinos could benefit by around $600 million in revenues a year if sports betting was allowed.
David G. Schwartz, the director of the Center for Gaming Research at the University of Nevada, Las Vegas, agreed that the New Jersey market would be substantial if implementation was allowed by the courts, adding:
“It could be more, because of the greater local [New Jersey] population. A greater proportion of people could visit on a regular basis, which would lead to an overall higher bet total. New Jersey does at least double the online poker business that Nevada does, which could be a good analogy.”
Joe Asher, the chief executive of William Hill’s U.S. branch, told North that New Jersey has more than three times as many residents as Nevada, and that in addition the operators would be able to draw from nearby New York, Pennsylvania and other surrounding states, all of which had a deeply ingrained sports and betting culture.

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Gambling News :

William Hill Chairman Not Stepping Down - There are no plans for Gareth to step down. He is leading the CEO search process, which is well advanced, and is working with Philip Bowcock to deliver the key priorities for the business.

Canadian Lottery Looking at Online Gambling - The reaction of other provinces is not known, but the Newfoundland and Labrador government was apparently less than enthusiastic about the prospect, which it did not regard as a priority.

Red Riding Hood Online Slot Launched - The game, which has already attracted much preview interest, is part of the developers Fairytale Legends series, which the company plans to expand with further titles in 2017.

Super Heroes Slot Launches - When the feature is triggered, two of the heroes appear on each side of the screen to boost winnings. During free spins, heroes are triggered on every spin, with their super powers growing stronger each time.

SIS Stream To Deliver racing games to online customers - Online and retail betting industry provider SIS has signed a multi-year deal that harnesses the power of its SIS Stream product to deliver 49s-branded racing games to online customers.

Playngo in Deal With Betclic Everest Group - Swedish online gambling games developer Play’n GO has signed an agreement with the Betclic Everest Group that will see its full suite of games rolled out across the French group’s online casino brands.

2016 Italian Poker Tour main event in Malta - After besting a field of 775, many of them respected aces, Austrian poker pro Ismael Bojang claimed the main prize of Euro 101,940 over the weekend in the eighth edition of the Euro 1,100 buy-in Italian Poker Tour main event in Malta.

Betradar in Deal with OPAP - Sports betting data and analytics provider Betradar has inked a live betting supply deal with the major Greek licensed retail and online gambling operator OPAP.

2016 888poker Make It Big Tournament - A relatively unknown Hong Kong poker player, Ka Him Li (21), claimed victory after a two-way chop in the main event at the inaugural 888poker “Make It Big” live poker festival at the Aspers Casino in London over the weekend, earning the top prize of GBP 45,300.

Lightning Box Games in deal with WIlliam Hill - Sydney-based slot design specialist Lightning Box Games has signed an agreement to supply its content to William Hill’s licensed betting offices in the UK.

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