Everyone knows what’s coming: This fall, you will be able to bet on whether the New York Giants will win or lose.
Here’s what few people understand: The biggest revenue opportunity for New Jersey may come on taking bets on how the Giants will do on an individual play.
Richard Schwartz, an industry expert and president of Rush Street Interactive, told ROI-NJ that in-game betting presents a huge opportunity for the state.
Historically in the U.S., betting has been based on a pre-event prediction of the final result.
Schwartz said that, globally, the trend is toward a lot more volume and betting activity during the course of the event.
In fact, Schwartz said, 70 percent of the revenue in Europe comes from in-game betting.
“I think we are going to see in New Jersey more advanced platforms and systems from the European markets are going to be making an entrance into the New Jersey market,” Schwartz said.
“Even in Nevada, where there is some form of sports book already, those products have primarily been built for the U.S. market, not really leveraging that state-of-the-art in-game betting that has been available in the European market, which we are about to see in New Jersey.
“I think a trend is in acceleration of a line of betting, not just in pre-match, but more about what’s happening during the course of the game.”
Read more from ROI-NJ:
- Why experts feel online sports betting will be better than (marginally successful) online gaming
- MLB tells Monmouth Park: Your ads are not welcome
- Murphy signs sports betting legislation; Monmouth Park to take bets Thursday
- Meadowlands racetrack signs deal, moves closer to sports betting
- Palmieri’s new challenge: Deputy mayor tasked with growing Newark the right way
