Thursday, June 21, 2018

Panel: Sports bets on phones have huge growth promise

ATLANTIC CITY, N.J. (AP) ó When a New Jersey racetrack and a casino start taking bets on sporting events Thursday, they will be part of an industry primed for tremendous growth, much of it taking place on smartphones, according to a panel of national gambling experts.

Speaking Wednesday at the east Coast Gaming Congress at Harrah's casino in Atlantic City, a panel of sports betting and technology company representatives predicted the fastest-growing segment of sports betting will be bets made on smartphones as games are being played.

While bettors always will want to bet on the outcome of a game before it begins, many also want to predict particular plays or developments within a game, the panelists said.

So in addition to wagering on whether the New York Yankees would beat the Boston Red Sox, many gamblers also would want to bet on whether Yankee Aaron Judge would hit a home run just as he arrives at the plate, or how many batters Red Sox pitcher Chris Sale would strike out in a particular inning.

Such betting is the main element of growth in the European sports betting market.

"The growth of in-play has been a huge driver," said Neale Deeley, vice president of Sportradar US, a data company that works with more than 70 sports federations and leagues around the world on fraud detection, including the NBA, NHL and Major League Soccer.

"Mobile and in-play were absolutely made for each other," added Lee Richardson, CEO of Spectrum Gaming Group, a gambling consulting firm near Atlantic City. "It's what customers want to do."

The forum came a day before New Jerseyans were to begin placing their first legal sports bets. Democratic Gov. Phil Murphy was to place the state's first legal sports bet at 10:30 a.m. Thursday at Monmouth Park, a horse racing track near the Jersey shore in Oceanport.

Thirty minutes later and about 70 miles to the south, Atlantic City's Borgata casino will start taking sports bets.

No other New Jersey racetrack or casino has announced plans to begin taking bets within the next few days, although most if not all are expected to do so eventually. The Golden Nugget casino and the Meadowlands Racetrack in East Rutherford, near New York City say they'll have sports betting operations up and running by the start of football season in September.

New Jersey's Division of Gaming Enforcement issued its regulations for sports betting providers Wednesday, clearing the last major obstacle for it to begin.

The state won a U.S. Supreme Court case last month clearing the way for all 50 states to offer legal sports betting if they choose.

Experts at the conference cautioned against unduly optimistic projections of sports betting revenue and tax money for states; the activity accounts for about 2 percent of Nevada casinos' total winnings. In New Jersey, Moody's has estimated sports betting could initially bring in $108 million, or about 4 percent of the state's annual gambling revenue.

___

Follow Wayne Parry at http://twitter.com/WayneParryAC

Comments
Florida eliminates Texas Tech at College World Series, faces Arkansas for title-round spot

Florida eliminates Texas Tech at College World Series, faces Arkansas for title-round spot

OMAHA, Neb. — JJ Schwarz hit a two-run homer and Florida built enough cushion to survive Texas Tech's six-run outburst over the seventh and eighth innings to eliminate the Red Raiders from the College World Series with a 9-6 win Thursday night....
Updated: 9 minutes ago

Rockets take USC guard Melton, trade for Purdue's Edwards

Houston Rockets get USC's Melton, Purdue's Edwards on NBA Draft night
Updated: 1 hour ago
76ers net Texas Tech standout Smith in draft trade

76ers net Texas Tech standout Smith in draft trade

The Philadelphia 76ers ended Mikal Bridges' happy homecoming in a hurry, sending the Villanova standout to the Phoenix Suns for Zhaire Smith in a swap of first-round draft picks
Updated: 1 hour ago
Celtics pick Texas A&M's Robert Williams in NBA draft

Celtics pick Texas A&M's Robert Williams in NBA draft

The Boston Celtics have selected Texas A&M power forward Robert Williams with the No. 27 pick in the NBA draft
Updated: 1 hour ago
Hornets land Miles Bridges, Devonte Graham in NBA draft

Hornets land Miles Bridges, Devonte Graham in NBA draft

The Charlotte Hornets wound up with small forward Miles Bridges from Michigan State in the first round after a trade with the Los Angeles Clippers.
Updated: 1 hour ago

Pelicans use only draft pick to take Penn State guard Carr

Pelicans use only draft pick to take Penn State guard Tony Carr
Updated: 1 hour ago

AP Top News at 12:25 a.m. EDT

AP Top News at 12:25 a.m. EDT
Updated: 1 hour ago
Indiana Pacers take UCLA point guard Aaron Holiday at No. 23

Indiana Pacers take UCLA point guard Aaron Holiday at No. 23

The Indiana Pacers have taken ULCA point guard Aaron Holiday with the 23rd overall pick in the NBA Draft
Updated: 1 hour ago

Indonesia court sentences cleric behind attacks to death

An Indonesian court has sentenced radical cleric Aman Abdurrahman to death for ordering Islamic State group-affiliated militants to carry out attacks including the January 2016 suicide bombing at a Starbucks in Jakarta
Updated: 1 hour ago
Michigan State board to consider payout to Nassar victims

Michigan State board to consider payout to Nassar victims

Michigan State's board of trustees set to meet to address a plan to pay a $500 million settlement to Larry Nassar's sexual abuse victims
Updated: 1 hour ago