Sports Wagering one step closer in NJ....

[Stillriledup]

Originally Posted by SandyW

In this the same state with some of the highest property taxes and right up there with the highest cost of living in the United States that you are talking about.
Sports wagering will not save the state financially if that is what they are shooting for, the same way that Atlantic City did not save New Jersey from the financial mess that they are in today.

They might not hit the motherload with profits from sports betting, but the state itself will have a better economy with people traveling in from other states to place bets in NJ. If NJ had sports betting at Meadowlands, Monmouth and a few other satellite locations all over NJ, how many people from NY and PA would drive into NJ on the weekends to play an entire card of college or Pro football, purchase gas while in NJ, eat NJ's food and spend money in other ways in their state...that helps the economy (not to mention if they actually get casino gambling to north jersey and build 5 star hotels to accomodate the gamblers, etc)

[badcompany]

Originally Posted by Stillriledup

They might not hit the motherload with profits from sports betting, but the state itself will have a better economy with people traveling in from other states to place bets in NJ. If NJ had sports betting at Meadowlands, Monmouth and a few other satellite locations all over NJ, how many people from NY and PA would drive into NJ on the weekends to play an entire card of college or Pro football, purchase gas while in NJ, eat NJ's food and spend money in other ways in their state...that helps the economy (not to mention if they actually get casino gambling to north jersey and build 5 star hotels to accomodate the gamblers, etc)

The number of "Heavy Hitters" isn't that large. The typical sports bettor is a regular guy who bets $50-$100 a game. They're not taking a road trip to Monmouth or AC to do that.

[onefast99]

Originally Posted by SandyW

In this the same state with some of the highest property taxes and right up there with the highest cost of living in the United States that you are talking about.
Sports wagering will not save the state financially if that is what they are shooting for, the same way that Atlantic City did not save New Jersey from the financial mess that they are in today.

Atlantic City is a completely different story, the inability to forsee heavy racino/casino competition from neighboring states as well as poor decisions by southern political leaders to change the NJ constitution and allow a casino in the Meadowlands(Northern exposure) all contributed to its current state. Combine that with the demise in the economy, high gas prices and overall failure to plan for the future AC got what it asked for.
SW won't save what cannot be saved but it will add another dimension to those casinos and racetracks that are able to go live with it once Judge Shipp renders his decision.

[onefast99]

Originally Posted by badcompany

The number of "Heavy Hitters" isn't that large. The typical sports bettor is a regular guy who bets $50-$100 a game. They're not taking a road trip to Monmouth or AC to do that.

Disagree. The newness of it alone will attract many.

[Mineshaft]

we have lotteries in most states but cant have legalized sports betting in only one state

[badcompany]

Originally Posted by onefast99

Disagree. The newness of it alone will attract many.

Trading stocks or betting horses online from a smartphone is new.

Having to go to a facility to place a bet is something from a bygone era.

Moreover, a lot of people would prefer to not have it known that they bet sports. Given that sports bettors who use bookies almost never encounter legal issues, how likely are they to give up their current arrangement?

[SandyW]

Originally Posted by onefast99

Disagree. The newness of it alone will attract many.

Not for long, once losing your money sets in.

[SandyW]

Originally Posted by onefast99

Atlantic City is a completely different story, the inability to forsee heavy racino/casino competition from neighboring states as well as poor decisions by southern political leaders to change the NJ constitution and allow a casino in the Meadowlands(Northern exposure) all contributed to its current state. Combine that with the demise in the economy, high gas prices and overall failure to plan for the future AC got what it asked for.
SW won't save what cannot be saved but it will add another dimension to those casinos and racetracks that are able to go live with it once Judge Shipp renders his decision.

The sports wagering pie is not as big as the great political minds of New Jersey think it is.
What makes you think that if New Jersey is allowed to circumvent the federal law that other surrounding states don't jump into the water the same way that they did with heavy racino/casino competition that you talk about above and offer sports wagering in New York, Penn, Conn, MD, RI, etc.

[Canarsie]

Originally Posted by Stillriledup

They might not hit the motherload with profits from sports betting, but the state itself will have a better economy with people traveling in from other states to place bets in NJ. If NJ had sports betting at Meadowlands, Monmouth and a few other satellite locations all over NJ, how many people from NY and PA would drive into NJ on the weekends to play an entire card of college or Pro football, purchase gas while in NJ, eat NJ's food and spend money in other ways in their state...that helps the economy (not to mention if they actually get casino gambling to north jersey and build 5 star hotels to accomodate the gamblers, etc)

We're talking about SW not legalizing marijuana. Only by smoking that stuff would you believe people are going to drives sixty miles to wager.

[Canarsie]

Originally Posted by SandyW

The sports wagering pie is not as big as the great political minds of New Jersey think it is.
What makes you think that if New Jersey is allowed to circumvent the federal law that other surrounding states don't jump into the water the same way that they did with heavy racino/casino competition that you talk about above and offer sports wagering in New York, Penn, Conn, MD, RI, etc.

Excellent point I never even considered that.

[Canarsie]

Originally Posted by onefast99

Disagree. The newness of it alone will attract many.

Over the past week I have spoken to a bunch of people about this subject. No matter who I asked they all came up with this answer.

You would be surprised how many people bet without having the revenue to pay off.
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Not a single one of these types will be wagering at Monmouth.

I'm also interested how they will handle the wise guys who play just for the middle. If they are on the end that collects that's great but there is an equally good chance they get pounded. The wise guys will give them a bunch of action I will readily admit that.

I have told this story before but an operation got stinged by the pros that play the middle. The amazing part was both wagers were made at one site because the line changed. Of course they got chased, what will Monmouth do with them (they hire people to wager) after they get crushed.

While definitely a very small number (probably well under 50) the ones that get chased from bookie to bookie can't wait for ANYONE to begin operations in NJ.

[badcompany]

Originally Posted by Canarsie

We're talking about SW not legalizing marijuana. Only by smoking that stuff would you believe people are going to drives sixty miles to wager.

The trend is the exact opposite, from movies to sports, fewer people are traveling to do things that can be done at home.

People travel to play golf or to go fishing.

[Canarsie]

Originally Posted by Robert Goren

A bookie friend confided to me that half his action came from 3 bettors. He probably has close to a hundred people who bet with him off and on. The shocking thing he told me was that if you threw out the Super Bowl, he took almost as much money in on baseball as he did on football. He said most of the baseball action was over/under. I would have never guess that.

Really? This has the first time it has happened since Columbus crossed the Atlantic.

This link is about 15 month old. Who should I believe the person who can just say anything without bring up facts or a multi billion dollar news operation.

Where did I ask about people going to football games I will readily admit these types are less inclined to gamble. But one if fifty makes it one of the most absurd comments I have ever heard. 2%???

http://www.nbcnews.com/news/other/th...et-f6C10634316

[Canarsie]

Originally Posted by badcompany

The trend is the exact opposite, from movies to sports, fewer people are traveling to do things that can be done at home.

People travel to play golf or to go fishing.

Exactly I've been saying that since day one my position has never changed. A Netflix or similar night is a very popular item for families.

[onefast99]

Originally Posted by SandyW

The sports wagering pie is not as big as the great political minds of New Jersey think it is.
What makes you think that if New Jersey is allowed to circumvent the federal law that other surrounding states don't jump into the water the same way that they did with heavy racino/casino competition that you talk about above and offer sports wagering in New York, Penn, Conn, MD, RI, etc.

NJ is one step ahead of those other states. Those states you mentioned would have to put SW to a vote, pass legislation and then set up the platform, just in case you missed it NJ did all of that. You also continue to bring up that NJ is circumventing the "law" do you mean the unconstitutional "law" that allows 4 states to have SW but none of the others can? That is why the Supreme Court will not touch this.