New Jersey Casinos Lose $4.6 Million On $34.9 Million In Super Bowl Bets

New Jersey gambling regulators say its sportsbooks lost $4.6 million on $34.9 million in Super Bowl wagers, the first major sporting event for bettors since sports gambling was legalized in the state last year.

The New Jersey Division of Gaming Enforcement said Monday that casinos and horse tracks in the state paid $39.5 million to those who won bets. Many gamblers backed the New England Patriots, who beat the Los Angeles Rams 13-3 on Sunday night and covered the spread of 2 1/2 points.

Nevada, which had an effective monopoly on sports betting until the Supreme Court ruled last year that states could allow it, is expected to report its Super Bowl betting totals later Monday.

Joe Asher is chief executive of William Hill US, which runs sportsbooks at two casinos and a racetrack in New Jersey. He says Super Bowl Sunday was by far the company’s biggest day ever in the state in terms of the amount wagered. He says the book broke even and also had a record day for mobile signups and betting.

DraftKings, which runs mobile wagering in New Jersey along with an in-person lounge at Resorts casino, also set a new record for handle. Spokesman James Chisholm said the company paid out about $11 million in winning bets to customers, “and took a small, barely seven figure loss.”

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Author: https://philadelphia.cbslocal.com/2019/02/04/new-jersey-casinos-lose-4-6-million-on-34-9-million-in-super-bowl-bets/