Sporttrade Will Use The Same System NASDAQ Uses To Monitor Trading When It Goes Live In NJ

Sporttrade New Jersey has gone all-in on the exchange model by partnering with NASDAQ to use its technology ahead of its anticipated launch

One future New Jersey sports betting app that goes all-in on treating sports bets as commodities has truly fitted itself out with all the bells and whistles necessary to present sports betting in that format. Sporttrade New Jersey will have similar capabilities to monitor trading activity as one of the world’s premier stock exchanges.

In a new partnership with NASDAQ, the first true exchange for sports bets in NJ will have access to the same technology that NASDAQ uses to avoid integrity threats. It’s a reminder for bettors in NJ of just how similar betting on sports is to playing the market.

Sporttrade New Jersey employs NASDAQ system

This deal is all about using NASDAQ’s SMARTS technology for surveillance. No, that doesn’t mean Sporttrade staff will be in a van outside your home.

NASDAQ uses SMARTS as a watchdog for trading on its exchange. Through event recording and machine learning, the system can alert the user to irregular patterns typical of insider trading.

Given that it all happens in real-time, that allows NASDAQ to stymie market manipulation attempts before they take effect. When Sporttrade goes live in NJ, it will possess the same capabilities.

“Today marks another important step in fulfilling our mission to elevate the sports betting industry with proven capital markets technology that will monitor our platform and protect our user base,” said Alex Kane, founder and CEO of Sporttrade, in a press release. “Adopting NASDAQ’s industry-leading market surveillance technology is essential in Sporttrade’s promise to our participants – to advance fair, transparent, and efficient open sports betting markets.”

While this might look like a lot of technical jargon that signals Sporttrade’s platform could be over the head of casual bettors in NJ, that isn’t true at all. In fact, even the most novice bettors can grasp this concept quickly.

How Sporttrade’s platform will work

Think of an exchange as a kind of enhanced in-game experience. If you’ve ever placed any bets at other NJ sportsbooks before, you’ve already used a similar system.

While the entertainment of betting on sports is certainly part of what you’re paying for, you’re also buying a commodity. Consider your betting slip as your “stock certificate” (back when physical versions of those were still a thing).

Just like with a stock, you buy in hoping the value of the wager grows with time as events happen.  In this case, those events are athletes or teams performing in the appropriate contests.

Then, at the pre-arranged time, you can present your “certificate” and collect your profit provided things went the right way. Sporttrade puts you in charge of when you can make that exchange.

Many NJ sportsbooks already give you early “cash-out” options for bets. Sporttrade builds on that premise by allowing users to move in and out of positions freely, just like investors on the NASDAQ exchange.

Just like with NASDAQ, there is risk

Sporttrade also puts you in control of what price you sell that position at. Therein lies the risk of the platform. If you sell your holding too early or late, you might miss a better price at another time.

Another way you will determine the fate of your investment on Sporttrade is with which events you buy into, similar to purchasing shares of the most desirable companies on NASDAQ.  If you buy into a game in which the favorite is blowing out the underdog by a large margin, you probably won’t get much for your position.

Thus, it’s still imperative for long-term success to do your homework. The most successful users of this platform will be the most knowledgeable.

When might New Jerseyans get to try out the app? This move keeps the Philadelphia-based company on track for a fourth-quarter launch this year. The app will take wagers in NJ under Bally’s Atlantic City license.

When it launches, users can invest with the same confidence they put in NASDAQ securities. Whether you profit or not will only come down to your handicapping and those unpredictable ball bounces going your way, not artificial manipulation.

BetMGM Offers NJ Online Gamblers Free Ways To Celebrate NFL’s Return

Get the 2021 NFL regular season started off right with BetMGM New Jersey and a couple of freebies for users of the sportsbook app

If you’re a BetMGM Sportsbook user in New Jersey, you probably have a budget set for wagering on the 2021 NFL season. Just ahead of the regular-season opener on Thursday night, BetMGM New Jersey is offering some ways to play that don’t require you to use any of that bankroll.

BetMGM’s benevolence includes two free bets and a no-cost chance at up to $50,000 weekly during the season. If you aren’t yet a BetMGM customer, there’s still time to get in on these deals.

BetMGM New Jersey giving out the Jacksons

The US $20 bill has President Andrew Jackson on its face looking rather stoic but your face might light up when you sign into the BetMGM app today. BetMGM has gifted all its NJ sportsbook users $20 in free bets for use on NFL Week 1 games. The promotion is divided up as two $10 wagers.

That’s right, you don’t need to do anything to get these two free bets. If you have an active account with BetMGM, it’s yours. The only “string” that the sportsbook attached is that you have to use them on NFL Week 1 games.

The first is reserved for tonight’s 2021 season opener between the Dallas Cowboys and defending Super Bowl champion Tampa Bay Buccaneers.

The other $10 free bet can be used toward any NFL Week 1 game taking place on Sunday.

Whether you want to use it on the New York Jets at Carolina Panthers game, the Philadelphia Eagles at Atlanta Falcons contest, or maybe the Denver Broncos at New York Giants tilt, it’s up to you.

Like with all free bets, your winnings will only include the profit if you do win. BetMGM won’t pay any of the promotional value to you.

Free bets are a great way to hedge your other bets. Additionally, you can take a little more risk. How about a wager on Calvin Ridley to score and the Eagles to win at +320?

This isn’t the only free way to play on BetMGM for NFL fans, though. Actually, there’s a contest that could be far more lucrative.

King of the Weekend contest details

How does winning up to $50,000 each week without risking any of your money sound? The necessary task is quite simple but difficult to achieve.

In the free-to-play King of the Weekend contest, BetMGM will select five NFL games each week. Naturally, that creates a field of 10 teams.

This week, Jets/Panthers and Giants/Broncos are two of those games. The other three contests are:

  • Pittsburgh Steelers at Buffalo Bills
  • San Francisco 49ers at Detroit Lions
  • Arizona Cardinals at Tennessee Titans

Your task in the game is to pick the six teams out of the pool of 10 that will score the most points and rank them in descending order. For example, if you think the Giants will score the most points out of these 10 teams this week, you’d rank them No. 1.

If you pull it off and not only pick the correct six teams but rank them all in the correct order, your reward is $50,000. That prize is up for grab each week.

There are smaller prizes for rankings with fewer correct predictions. If you merely pick one of the top six scorers, for instance, you’ll get a free bet worth $1. If no one ranks the top six highest-scoring teams that week correctly, BetMGM will reward the best entry that week with $1,000.

With no entry fee, the only thing you could possibly be out playing this game is a little bit of time. The potential rewards make that well worth the risk.

PlayUp Will Pay Up For New Jersey Online Casino Winners Under Caesars’ License

PlayUp online casino will augment the brand’s sports betting product thanks to the expansion of the company’s partnership with Caesars

Caesars Atlantic City has dispersed another iGaming skin, this time facilitating the entry of PlayUp online casino into New Jersey. With this development, the relatively new online gambling company will vie for a foothold in the US’ most mature iGaming market.

There’s no word yet on when this or its already-announced sports betting platform will go live in the Garden State. NJ online casino players should expect a competitive product from the get-go, however.

What we know about the PlayUp online casino

Right now, concrete details are scant. iGaming will be a new vertical for the company, which already offers robust daily fantasy, racebook, and sportsbook products in other countries.

The PlayUp Sportsbook is also currently operating in Colorado. NJ will be its first market for online casino products.

“I couldn’t be more excited to share with you that PlayUp has continued to acquire market access,” said PlayUP CEO Dr. Laila Mintas. “Now with Caesars casino, which is a very strong brand. The deal gives us immediate access into Iowa, Indiana, and iGaming in New Jersey, and gives PlayUp an addressable market of nearly $500 million USD. We will continue to acquire market access across the US and keep expanding.”

While PlayUp already has an NJ sports betting license under the auspice of the Freehold Racetrack, it still needs to secure regulatory approval for iGaming. Currently, there’s no official timetable for that.

Soon after receiving such approval, NJ online gamblers could start to get an idea of what the platform will entail. To compete, it will have to be quite robust.

Will there be apps, live dealer games, etc?

Right now, that’s all speculative. However, it’s difficult to imagine PlayUp would make a go at the NJ online casino market without such offerings.

All of the top players in the NJ iGaming market not only offer live dealer games and mobile apps but an ever-expanding catalog of slot titles and table game variants. Perhaps the biggest question right now is whether PlayUp will ever complete the trifecta and add online poker to its NJ menu.

That question could also go unanswered for quite some time. Building out the online casino product probably has all the company’s attention right now.

Comparatively, online poker brings in a lot less revenue. Thus, it’s probably a backburner item if a priority at all right now.

When the time comes for the PlayUp online casino to launch in NJ, expect to see more information about welcome offers and other promotions. Until then, simply know that yet another brand is making its foray into iGaming in NJ.

New Jersey Becomes Ground Zero For Lotto.com’s Online Lottery Ticket Sales

Through a partnership with QuickChek, Lotto.com ticket sales are now available as an option for New Jersey Lottery players.

If Lotto.com ticket sales become a widespread phenomenon throughout the United States, it will be another gambling innovation that New Jersey is responsible for. New Jerseyans now have access to the lottery courier service.

For New Jersey Lottery players the service means a new way to buy tickets and redeem them for prizes. Though the concept might be new for some Garden Staters, it’s quite simple.

How Lotto.com ticket sales work

Lotto.com’s system isn’t really proprietary or unique, though it is rare. It is just the second courier service certified by the New Jersey Lottery.

Essentially, the platform converts physical lottery tickets into digital tickets on customers’ behalf.  Another company that offers a similar service is Jackpocket, which was the first courier service to launch with the NJ Lottery’s blessings in December 2019. However, there are a few differences between Jackpocket and Lotto.com.

The first is that Jackpocket runs on a mobile app, while Lotto.com is a web-based platform. There’s no need to download an app to use Lotto.com.

Additionally, Lotto.com does not require users to deposit funds beforehand in order to make a purchase. Instead, Lotto.com customers pay for their purchases, with a service fee, as they go.

In NJ, Lotto.com has partnered with QuickChek, the state’s leading lottery retailer. When you place an order from Lotto.com, the website’s staff will fulfill your order at one of QuickChek’s locations.

Then, the personnel will create digital scans of your tickets. Buyers can check their numbers using the website and if the tickets turn out to be winners, arrange for delivery.

Upon receipt, the process for claiming prizes attached to the tickets is the same as if the players had bought the tickets in person themselves. It might not be long before New Jerseyans aren’t the only ones who can use the service.

NJ could be just the start

A press release says that Lotto.com has plans to expand nationally. That will partially depend on legal/regulatory approval.

New York seems a natural second market, as the New York Lottery has approved Jackpocket as a courier. In states that only allow retail sales, there’s a little bit of legal maneuvering that might be necessary.

Technically, all sales will happen in person. However, it’s the third-party aspect of this service that might conflict with some states’ laws.

To the extent that Lotto.com can navigate those issues in any state where they might come up, the product has a future. That journey, to whatever extent it runs, is beginning in NJ.

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BetMGM Adds NYRA Bets As First Horse Racing Partner

A new BetMGM-NYRA partnership will give app users more access to live races and replays along with more betting markets

New Jerseyans who can’t get enough of horse betting will soon have a chance to satiate their interests. A new BetMGM-NYRA partnership will expand the horse racing content and wagering options in NJ.

BetMGM Sportsbook could become the app of choice for racing fans in NJ due to the integration of the New York Racing Association’s assets. At the very least, the additions will represent a serious upgrade.

What’s up with the BetMGM-NYRA deal?

Perhaps the most impressive part of NYRA Bets is the sheer volume of action and content on the platform. Over 200 tracks worldwide comprise the NYRA’s options.

The NYRA’s library of video content includes both live streaming and race replays. Betting on harness, quarter horse, and thoroughbred racing will span thousands of events around the globe.

BetMGM is set to bring all of that to a new standalone racing app to as many jurisdictions as possible.

“We’ve found a great partner in NYRA Bets and look forward to working with them to create a thrilling, interactive experience for horse racing fans on BetMGM,” said BetMGM CEO Adam Greenblatt

While this is a first for BetMGM, it represents another expansion of the NYRA’s collaborations with gambling companies. This might be the most impactful association yet, though.

NYRA branching out with BetMGM

The NYRA also recently inked a deal with Jackpocket, the US’ first licensed third-party lottery courier service. It’s a pretty standard cross-promotional deal for both parties.

At its core, the BetMGM-NYRA deal is the same thing. Both BetMGM and NYRA could benefit from some new traffic from established customers of the other brand.

It makes sense because there’s likely to be some crossover in the two crowds.

“This is the type of partnership that reflects the importance of horse racing within the rapidly evolving sports betting marketplace. BetMGM has consistently led the charge to expand wagering opportunities for their customers, and we are thrilled that our horse racing content will soon be available on their platform,” said NYRA Bets President Tony Allevato.

NYRA Bets is hoping that BetMGM customers will stake some horses while BetMGM is trying to lure horse-racing fans into trying out online casino and online sports wagering. If any crossover does occur, neither company will look that gift horse in the mouth.

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Sling TV Viewers Can Now Access DraftKings Channel For Basketball Betting Information

Starting with basketball content, the Sling TV DraftKings channel is now available to viewers with more sports on the way.

There are a lot of places to get updates on New Jersey sports betting, like the very site you’re on right now. When it comes to wagering on basketball, the Sling TV DraftKings channel is a new option.

Dish Network has launched a new channel for its streaming television service with more sports on the way. While the channel is essentially a prolonged commercial for DraftKings Sportsbook, it has its uses.

Details on the Sling TV DraftKings channel

Sling TV announced the availability of its basketball-focused DraftKings channel on Thursday. Subscribers should now be able to locate it in the channel guide.

A press release says the channel offers real-time odds and game scores. It’s the first realization of a partnership between the two brands that first became public in March.

The same release also states that similar baseball and hockey channels are coming to Sling TV customers “in the coming weeks.” Undoubtedly, the eventual complement will also offer a football channel.

NJ bettors should note that the channel does not offer access to the online sportsbook. If some of the information on the channel catches your eye, you’ll still need to place your bet on one of your devices as normal.

The value for bettors here is in being able to “multi-task” during basketball games. Real-time information is crucial to successful in-game wagering.

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How the DraftKings Channel can augment live betting

It can often prove challenging to keep up with live betting markets for basketball games, especially if you’re trying to do so with a single device. Having a second screen simplifies the activity.

Of concern, however, is lag. That’s the issue that bettors who want to take part in live betting on a fast-moving sport like basketball often encounter.

First, there’s a gap between when athletes actually take action in a game and when DraftKings receives the information. Then, there’s an amount of time that the sportsbook needs to process the data and update its markets.

Then, of course, there’s the time necessary for bettors to act on the markets. That’s where a second screen becomes of greatest value.

Instead of switching between apps to check on games in progress and then the odds, all a Sling TV viewer has to do is take a gander at the television. The bettor can have the DraftKings app running on their phone at the same time, ready to pounce when the odds are favorable.

As technology improves, these concerns about lags for live wagering should lessen. Media companies like Sling TV can assist bettors now, though, with products like the DraftKings channel.

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