Why N.J. is a better bet than Las Vegas for sports gamblers – NJ.com

Thursday marks the two-year anniversary of the Supreme Court throwing out the federal ban on sports betting.

The legalization of sports gambling requires an important policy choice, but the choice is not ours to make, Justice Samuel Alito, a New Jersey native, said in the opinion of the court. Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own.

Gov. Phil Murphy welcomed the ruling and the state Legislature quickly moved to establish the sports betting industry in New Jersey.

Darren Rovell, the former ESPN and CNBC sports business analyst, now writes for The Action Network. In noting Thursdays sports betting anniversary, Rovell relayed a conversation he had with a professional sports bettor. In the story, the pro explained why New Jersey is better for sports bettors.

The same six or seven guys control Vegas sportsbooks and they all talk to each other. So we certainly couldnt show up placing our own bets. Many of them wouldnt take our money. We did too well. ... In New Jersey, theres none of that. You have 20 sportsbooks competing with each other, not talking to each other. I dont have to give other people my money. I can make 13 bets under $10,000 and still get more than $100,000 down.

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Even with a market more convenient for sports bettors, the industry is taking a bath because of the coronavirus pandemic.

Murphy ordered Atlantic Citys casinos closed in March. NJ Advance Medias Keith Sargeant reported last month on the losses suffered by the industry without any sports on which to bet.

In March, $181.9 million was wagered at New Jersey sportsbooks -- a drop of 63.2% from last month and down 51.2% from March 2019.

The trend downward continued in April, according to the Associated Press.

April was the cruelest month ever for Atlantic City casinos, as state earnings figures released Wednesday shattered a record in revenue declines that had been set just a month ago. The coronavirus outbreak pushed revenue at the seaside resorts nine casinos down nearly 69% in April from the same month a year earlier. ... All told, the casinos saw $82.6 million in revenue in April, almost all of it won online from gamblers who had few other legal options. Thats down from $265.4 million in April 2019.

MGM Resorts, owner of the Borgata, released on Tuesday the health and safety plan its casino properties will follow once state officials allow them to reopen. Among the highlights: no eating on the casino floor, contactless check-ins for hotel rooms and wearing a mask unless youre drinking while gambling.

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Mike Rosenstein may be reached at mrosenstein@njadvancemedia.com.

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Why N.J. is a better bet than Las Vegas for sports gamblers - NJ.com