New Jersey has now entered the sports betting app era. Draft Kings (Resorts) bet365 (Hard Rock) William Hill-US (through Ocean Resort casino in Atlantic City) MGM (Borgata), and Caesars Entertainment (Bally’s, Harrah’s) are offering now, or will be, by opening day kickoff next month. Even Buffalo Wild Wings is getting their piece of the pie, and has signed a deal with DraftKings.
Now for the bad. Some of these books that are entering the market for the first time in the States are starting a terrible trend of price gouging. I have never seen anything like the baseball lines at Draft Kings and Fan Duel. You have to lay -180 with a comeback of +145 on the dog. The NFL lines, you have to lay $113 to win $100; and for NFL moneylines they are using the same scale as MLB.
I laugh at a few of these people and media sources who thought this was going to be the end-of-the-street bookmaker in NY/NJ. Not only were they wrong about it, in the end they may be the ones who hit the jackpot.
Sports betting is brand-new to a lot of the people in the area. When I look at the customer base, it is mostly millennials who have grown up in the ESPN era and have become fans of many different sports. Now they are able to wager on the teams they have been rooting for. When they eventually lose their cash, they can easily find their way to a local pool room or sports bar where somebody is booking or knows someone that books.
Then you have the guys who just know better from visiting Las Vegas, that it is customary to lay 11/10 on a football game. They are not going to be suckers for long.
Part of me actually feels bad for the street books who are accommodating customers with old school vigorish and now have to be worried about getting their doors busted in. Then you have these new guys coming in town with a license, and basically robbing everybody.
Hopefully, through this article and Twitter, I can educate some people and save them some money at the same time. Stick with the casinos that have been dealing 11/10 since the start. The corporations like Caesars or MGM, which have employees from Las Vegas personally going to these other jurisdictions and training the staff the right way.
Look for Week 2 major line moves to happen after Wednesday. If you see a sharp move of -1 or -2 it’s not a bad idea to buy down to that original number for an extra $.10. Do not forget this only works during preseason NFL.
We cashed last week with the Browns +2.5 winning outright. This week I like New Orleans Saints on the moneyline and also the first-half line when it becomes available.