In a press release from the company this week, SugarHouse reps spoke about sports betting on the World Series and the eighth week of NFL action.
Apparently, sports bettors on the online sportsbook “are smiling” plenty today.
The Fall Classic brings out the bettors
Major League Baseball crowned its new World Series Champions this week, the Boston Red Sox. The victory sent the city into a celebration and sports bettors to the figurative window to collect on their bets.
According to SugarHouse, most of the sports bettors on its site picked the Red Sox to win. In fact, many picked the team to sweep the Los Angeles Dodgers in the World Series.
Mattias Stetz, chief operating officer of PlaySugarHouse’s technology provider, Rush Street Interactive, talked about the betting in a press release.
“Our biggest risk prior to the first game was actually on the Red Sox sweeping the Dodgers. So Dodgers stealing Game 4 made the fall a little softer, but not much!”
Week 8 of the NFL
The NFL is anything but predictable these days. Just look at your fantasy football team for confirmation.
This week’s Green Bay Packers and Los Angeles Rams game provided a little nail-biting until the very end, especially for sports bettors.
Todd Gurley with an open field ahead of him, allowed himself to get tackled after ensuring the first down and a win for his team.
— The Checkdown (@thecheckdown) October 28, 2018
To be clear, Green Bay bettors did not want Gurley to score. Rams bettors, on the other hand, needed the score to cover the spread. At that point in the game, the score was Rams 29, Green Bay 27.
Where many of the Vegas sports books had the Rams as a 7.5 favorite, SugarHouse had them at -9 and -9.5. A Gurley touchdown would have meant a push for the online sportsbook on its -9 bets. Gurley deciding not to score meant SugarHouse had to pay out Green Bay bettors on both numbers.
The Las Vegas Review-Journal reports Gurley’s decision not to score resulted in about a $1 million swing at Vegas sportsbooks in favor of the bettors.
Fantasy sports enthusiasts were also annoyed at the final play of the game. Gurley’s decision cost fantasy players about six points which definitely can swing the outcome of a matchup.
As for how SugarHouse fared, Stetz said:
“As a matter of fact, almost all of the rest of the NFL results went in favor of our players, so they should be happy today.”
In the end, the objective of the game is to win, and that is what Gurley focused on. His decision, according to several analysts, was the right one.
“Man, forget fantasy,” Gurley said with a grin. “Forget Vegas. We got the win, so that’s all that matters.”
PlaySugarHouse focused on growing NJ market
The decision is the result of the restrictions placed on Golden Nugget to prohibit the sportsbook from accepting NBA wagers. Tilman Fertitta is the owner of both Golden Nugget and the Houston Rockets.
New Jersey sports betting regulations state a sportsbook whose owner has an interest in a sports league cannot accept wagers on the league’s games.
“Local teams and big games always attract more attention in general,” Stetz said in a previous interview with NJ Gambling Sites.
Even though New Jersey doesn’t officially have a basketball team anymore, there are teams in the vicinity:
- Brooklyn Nets
- New York Knicks
- Philadelphia 76ers
With the success of the NFL, and sports betting as a whole in the Garden State, SugarHouse had to do what is right for its customers and its bottom line, so they went shopping around.
The nascent New Jersey sports betting market is growing at an unprecedented speed. Sitting out a sport might mean losing a significant portion of a customer base. The competitive nature of sportsbooks means fighting for every new customer. There is always a chance, and a good one, that once those customers leave, they might not find their way back.
Now that Play SugarHouse is under a new license, the customers SugarHouse has earned can stay put and PlaySugarHouse can focus on finding more of them.
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