Quote:
Originally Posted by RunForTheRoses
The fact is the hold on sports betting is fairly low. Corporate casinos tolerate them because they bring in foot traffic but they would prefer the space be dedicated to slot machines. In the short run sports betting can be a loser for the house. Little Caesars in Vegas closed a whole ago.
It can marginally help NJ racing by bringing in younger people plus people from neaeby states that want to wager on spirts. Some of these people will bet on horses which as we know has a very high house hold.
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Will Hill figures for Nevada for 2017
Money bet $1,152,700,000
Money won 72,900,000
Hold rate 6.3%
https://www.williamhillplc.com/media...-23-feb-18.pdf
Page 13 of 2017 annual report.
Allan