Column: Sports betting becomes more reliable | National News

TIM DAHLBERGAP Sports Columnist

Las Vegas (AP) — I didn’t need any official proof, but I’m from New Jersey, where people really like to bet on sports anyway. They put over $ 1 billion into their favorites in September. This is the first time the state has legalized sports betting more than three years ago.

In the city where everything started, odds maker Jimmy Vaccaro doesn’t need official statistics to figure out what’s happening in the world of sports betting. A quick glance at the South Point Sportsbook hot dog stand line on a football weekend in Las Vegas reveals everything he needs to know.

“Hot dog stands are in the United States,” Vaccaro said. “The features of this hot dog stand are amazing. The average number of hot dogs on Sundays during the NFL season is 1,400-1,600.”

One of those hot dogs (a longtime loss leader of $ 1.25 each) from her seat to celebrate New England’s slow score, where a woman who had Dallas to cover the spread made her a winner. When I jumped off, I got to the floor. She wasn’t alone as bettors across the country got her favorites and the book paid off millions of par-raives.

The Betters won big and rarely lost several sports books in a row during the NFL season.

“Usually there are two bad weeks from the whole season,” said Vaccaro, who has booked sports on the Las Vegas Strip for nearly half a century.

That’s not necessarily a bad thing in the sports betting industry. Big payoff promises attract most people. And with lots of payouts in New Jersey in September, the beginning of the NFL season has produced the highest number ever. In some states, sports betting has become legal in some parts of the country.

With a lot of losses, New Jersey casinos put $ 82 million out of that $ 1 billion in their pockets, allowing them to hold just over 8%.

Margins are not large in sports betting, but the potential benefits are large. As a result, the largest players in the sportsbook industry are fighting for valuable market share in more than 20 states where sports betting is legal, banging it on air and online.

Another state joined the party last month when Arizona began allowing bets just in time for Arizona to catch up with the undefeated Arizona Cardinals tide.

Sports betting is expanding faster than anyone imagined when the Supreme Court opened the locks and allowed the state to legalize long-standing illegal closed-door activities in most parts of the country. increase. Radio waves are filled with ads promoting different betting apps, and it’s hard to watch any kind of game without reminding the announcer that different betting angles are being played.

Betters used to have to bet in the back room of a corner drugstore or behind a game stand, but now they can bet in seconds with the push of a few buttons on their cell phone. increase. The ease of online betting is driving the overall surge, with nine of the $ 10 bets in New Jersey in September being made online.

Easy access to action must cause some issues that betting advocates are less enthusiastic about discussing. Some bettors will be absorbed in saving money, and the money allocated to the next month’s rent will be used to chase after certainty, and some families will inevitably suffer. To that end, the NFL announced on Wednesday that it will run a responsible betting media campaign funded by a $ 6.2 million grant to the National Council on Gambling Addiction.

But so far, sports betting hasn’t ruined sports as the NFL and other leagues have warned everyone over the years. All major sports leagues are eager to embrace sports betting and share the interests of a rapidly expanding industry, and betting lounges are beginning to emerge in arenas and stadiums across the country.

Even in the evolving betting situation, one thing remains constant. Bookmakers will win in the long run, even if Better gives way on a few Sundays in the football season.

In other words, more tickets were written at South Point, and of course, more hot dogs.

“We’ll see what happens this weekend,” Vaccaro said. “I know one thing. We’re going to be open. We still write tickets and sell hot dogs.”

Tim Dahlberg is the Associated Press’s national sports columnist.Write a letter to him Also

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Column: Sports betting becomes more reliable | National News

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