Sports Wagering one step closer in NJ....

[SandyW]

Originally Posted by Stillriledup

Not unless you got there early and stayed all day watching the games on tv and placing bets on the card. The place will be very crowded, lots of extra people will be there to bet some NFL.

I am going to repeat my post from above:

This sports wagering thing is so over hyped it is laughable. Once football is over the betting handle drops 70% to 80%.
Without the casinos, with all their amenities, sports wagering at locations like Monmouth have as much of a chance of being successful in the long run as me hitting a 15 team parlay.

[TravisVOX]

Originally Posted by SandyW

I am going to repeat my post from above:

This sports wagering thing is so over hyped it is laughable. Once football is over the betting handle drops 70% to 80%.
Without the casinos, with all their amenities, sports wagering at locations like Monmouth have as much of a chance of being successful in the long run as me hitting a 15 team parlay.

Are you always a Debbie Downer or do you just play one on the internet?

[Stillriledup]

Originally Posted by SandyW

I am going to repeat my post from above:

This sports wagering thing is so over hyped it is laughable. Once football is over the betting handle drops 70% to 80%.
Without the casinos, with all their amenities, sports wagering at locations like Monmouth have as much of a chance of being successful in the long run as me hitting a 15 team parlay.

Baseball bettors, NBA and NHL seasons winding down, March madness around the corner after football closes.

[SandyW]

Originally Posted by Stillriledup

Baseball bettors, NBA and NHL seasons winding down, March madness around the corner after football closes.

Football is king by a long, long, shot when it comes to sports betting.
Daily handle in Las Vegas sports books drops big time when football ends except on a few special days.

[SandyW]

Originally Posted by TravisVOX

Are you always a Debbie Downer or do you just play one on the internet?

Nope, just the facts from my 40 years in the gaming business. This is so over hyped as some sort of financial savior that it is laughable.

[onefast99]

Originally Posted by SandyW

As I said before the casinos are regulated by the state so now the bill Christie signed becomes even more foggy.
The casinos are not on a wait and see, any ruling will apply differently to casinos so I expect an even longer drawn out legal battle where the casinos in Atlantic City are concerned.

Racetracks are under the authority of the NJ Racing Commission, casinos are under the NJ Casino Gaming Commission. That is for the purpose of horse racing and gaming not sports wagering, that is self regulated and is part of the loophole in the law. You can continue to grasp at straws but every arguement you have brought to the table thus far is based on sandyw's heresay not the actual rulings and decisions thus far.

[onefast99]

Originally Posted by SandyW

Nope, just the facts from my 40 years in the gaming business. This is so over hyped as some sort of financial savior that it is laughable.

In what capacity were you involved in the gaming industry? Compliance?

[Stillriledup]

Originally Posted by SandyW

Football is king by a long, long, shot when it comes to sports betting.
Daily handle in Las Vegas sports books drops big time when football ends except on a few special days.

There's always ups and downs in "betting seasons" but with the large amount of money made on NFL, College Football and March Madness, it would make up for the shortfall in the other months. Just like how they say most businesses make their years go into the black around the holiday season, the X mas shopping season is what makes most businesses (that are still in business) profitable, Xmas shopping. One month makes it all worthwhile for many.

[SandyW]

Originally Posted by onefast99

In what capacity were you involved in the gaming industry? Compliance?

All capacities at one time or another on the casino floor, let's just leave it at that.

[SandyW]

Originally Posted by Stillriledup

There's always ups and downs in "betting seasons" but with the large amount of money made on NFL, College Football and March Madness, it would make up for the shortfall in the other months. Just like how they say most businesses make their years go into the black around the holiday season, the X mas shopping season is what makes most businesses (that are still in business) profitable, Xmas shopping. One month makes it all worthwhile for many.

I agree with you 100%, but Monmouth is not the place for this to be successful long term. Atlantic City casinos would have been a much better fit for the introduction of SW in New Jersey. Casinos have other revenue streams during slow periods and the slot business is much more of a sure thing then sports wagering.
Sports wagering is just one of the many ways that casinos get you to come into the building, in Monmouth's case that is not true.
I am not saying that it won't be a success in the very short term, but the novelty will soon wear off.

[Stillriledup]

Originally Posted by SandyW

I agree with you 100%, but Monmouth is not the place for this to be successful long term. Atlantic City casinos would have been a much better fit for the introduction of SW in New Jersey. Casinos have other revenue streams during slow periods and the slot business is much more of a sure thing then sports wagering.
Sports wagering is just one of the many ways that casinos get you to come into the building, in Monmouth's case that is not true.
I am not saying that it won't be a success in the very short term, but the novelty will soon wear off.

I agree with that for the most part. Booking sports bets for casinos are not as lucrative as slots, but you're right, it gets people in the building to spend money on other things and gets people into the state to spend on gas, food, lodging, etc which also helps that state's economy.

Maybe you start off at Monmouth because its a lot easier to start off there (start off slow) than start off at Meadowlands. A lot more people have access to Meadowlands than have access to Monmouth if they want to spend a day betting sports.

[onefast99]

Originally Posted by SandyW

I agree with you 100%, but Monmouth is not the place for this to be successful long term. Atlantic City casinos would have been a much better fit for the introduction of SW in New Jersey. Casinos have other revenue streams during slow periods and the slot business is much more of a sure thing then sports wagering.
Sports wagering is just one of the many ways that casinos get you to come into the building, in Monmouth's case that is not true.
I am not saying that it won't be a success in the very short term, but the novelty will soon wear off.

The main reason for the sw bill was and is to put people in AC and to keep the workers off the unemployment line based on the downturn in the economy and the loss of gaming revenue to surrounding states. The fact that William Hill joined forces with MP several years ago and saw that SW was not too far off that in essence gave them the leg up on the competition. They were first in and are being rewarded with the first bet taking portal. Once again no one ever said SW will save the state of NJ or the horse racing or casino industry but it will provide another form of gaming that other competing for gaming dollars states do not have. You will need to go to Las Vegas to enjoy what NJ will have in just a few short months sports wagering wise once the bugs are worked out of the system!

[onefast99]

Originally Posted by SandyW

All capacities at one time or another on the casino floor, let's just leave it at that.

Good for you my sister worked for Sensormatic they installed all the cameras and security devices for the major casinos in AC and throughout the USA. The Jai alai frontons and dog tracks in Florida and Connecticut were her biggest clients until Resorts came along in 1978. From that year until 2007 her business was booming in AC, today it is a tough industry that is going through lots of consolidation.

[biggestal99]

Originally Posted by Stillriledup

I agree with that for the most part. Booking sports bets for casinos are not as lucrative as slots, but you're right, it gets people in the building to spend money on other things and gets people into the state to spend on gas, food, lodging, etc which also helps that state's economy.

Maybe you start off at Monmouth because its a lot easier to start off there (start off slow) than start off at Meadowlands. A lot more people have access to Meadowlands than have access to Monmouth if they want to spend a day betting sports.

Yeah i wonder how many attendees at a jets/giants game will wonder over to the meadowlands once its open and place a bet on the game.

I know the place across from wembly stadium does box office business when the nfl plays there.

Allan

[Canarsie]

N.J. sports betting Q&A

http://www.nj.com/politics/index.ssf...trictions.html


Let me get this straight. They are going to self regulate themselves not even use a neutral company to hear cases? The first person who THINKS he gets stiffed goes to twitter land and posts how he gets shafted. The thing gets retweeted and retweeted and right off the bat they lose a huge percentage of their business.

Hoping I'm wrong but like I've stated before the people in charge don't have a clue on how to take care of their customers. This only cements how I felt about the lead people in charge of sw. Sheeesh even bookies record every call or have it documented on a computer trail. If there is a 49% chance the customer is right they will be given the benefit of the doubt. How long will it take their self regulated body to make a decision? This will be the quickest way to kill any chance of it being a success.