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Gambling in the USA

Gambling Company Poised to Lose Millions if Trump Wins Election

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Gambling Company Poised to Lose Millions if Trump Wins Election

 

For online gambling company BetOnline.ag, it’s beginning to feel like 2016 all over again.

In the weeks leading up to America’s last Presidential Election, widely-respected political polls and predictive models suggested a somewhat easy win for Hillary Clinton.

RealClearPolitics and FiveThirtyEight both projected Clinton’s chances of becoming the nation’s first female president around 70 percent. Other websites were even more bullish on Clinton, and so were the bookmakers.

“When there’s a fishy line or movement in sports betting, the old adage is that ‘Vegas knows something,’” Dave Mason, brand manager at BetOnline.ag, said. “But in 2016, it was the bettors in the know. The oddsmakers make a living being on the right side, but they were dead wrong that year.”

Money flooded in on Donald Trump in the weeks and days leading up to the 2016 Election. But BetOnline and other bookmakers worldwide were firm in their position and continued to offer great value on the underdog.

“Everyone was shell-shocked. Heck, I even think Trump was a little surprised,” Mason said of the 2016 outcome. “To say the bookies took a bath that Election Day would be a gross understatement. The decision was a big loss for the industry, and a big win for the betting public.”

Estimated losses in the global gambling markets that were able to offer political wagering for the 2016 U.S. Presidential Election were reportedly in the hundreds of millions.

Fast forward four years, and gaming properties are sitting in a very similar position.

As of this release, FiveThirtyEight is giving Joe Biden even better odds than Clinton, currently predicting an 89 percent chance the former VP will be elected. RCP’s national poll average shows Biden winning by a small margin.

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But the bettors, once again, are predicting an underdog outcome.

Since Monday, BetOnline.ag reported that 85 percent of the bets taken on its presidential odds have been on Trump. This one-sided action has greatly swung the numbers in terms of the company’s liability. BetOnline revealed that it stands to lose a seven-figure sum if Trump is re-elected.

“Political stances aside, we’ll all be rooting for the favorite next week,” Mason said. “That’s uncommon in our industry, but we need Biden in a big way.”

Political betting has become wildly popular over the last 10 years, and the 2020 Presidential Election is close to becoming the biggest decision in BetOnline’s 20-year history of taking wagers on sports, politics, entertainment and more. The website’s political betting markets this year have already surpassed the straight bet handle for Super Bowl LIV back in February.

BetOnline would not provide specific numbers, but a representative said that since the last election, it has booked an amount in the eight-figure range on this year’s election.

Currently on the website, Biden is a -180 favorite to win the 2020 Presidential Election while Trump is a +160 underdog.

It remains to be seen as to whether or not the gamblers will be on the right side of the odds again, but it’s worth noting that the same betting patterns from 2016 are trending as Election Day nears.

 

About BetOnline.ag

Established in 1991, BetOnline (www.betonline.ag) has become a worldwide leader in providing safe, legal and secure online gaming. The company’s guiding principle is to establish long-lasting, positive relationships with its customers and within the gaming community. BetOnline features the most innovative technology and online gaming solutions for its sportsbook, casino and racebook clients.

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SOURCE BetOnline.ag

Gambling in the USA

Major Casino Operators Ready to Invest if Georgia Lifts Casino Ban

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As discussions about legalizing gambling in Georgia gain momentum, major casino operators like Wynn Resorts and Boyd Gaming are poised to lead the charge if the state changes its restrictive laws.

During a recent Georgia House study committee meeting, Christopher Gordon, president of Wynn Resorts’ development arm, expressed keen interest in building a multibillion-dollar casino should legal barriers be removed. Similarly, Boyd Gaming’s government affairs vice president Ryan Soultz highlighted Georgia’s market attractiveness.

Wynn’s model would be similar to its $2.6 billion Encore Boston Harbor, suggesting that a new Georgia casino could employ up to 4000 workers and contribute substantial gaming tax revenue.

Although specific locations have not been chosen, both companies have indicated they would need constitutional changes to move forward. Their willingness to invest heavily in the Peach State demonstrates a strong belief in the untapped potential of the state’s gambling market.

Such developments offer a compelling argument for lawmakers to consider gambling expansion, marking a shift toward economic incentives as a primary motivator for legislative change.

Should Georgia proceed with legalizing casino gambling, the legislative language will be crucial in shaping the industry’s landscape. Key proposals may include requiring casino companies to invest at least $1.2 billion per resort and generate a minimum number of jobs, often set at around 10,000 per license. This ensures that any developments bring tangible benefits to the local economy.

Additional legislative demands include rigorous background checks for key personnel, proven industry experience, and adherence to strict technical and financial standards. Only companies with substantial capital and robust infrastructure, like Wynn Resorts and Boyd Gaming, are likely to meet these stringent requirements.

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Gambling in the USA

Plaza Hotel & Casino to welcome the U.S. National Champions Summerlin South All Stars to be TNT Ignitors for Welcome to the Weekend Friday Fireworks, next Friday, Sept. 5

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The Plaza Hotel & Casino will welcome the U.S. National champions, the Summerlin South All Star team to be the special guest TNT Ignitors of the property’s Welcome to the Weekend Friday Fireworks show, next Friday, Sept. 5 at 9:15 p.m., taking place on the Plaza’s rooftop pool deck.

“Getting to ignite the Plaza’s amazing fireworks show is a great honor for the team,” said Chris Mallory, president of Summerlin South. “And we thank the Plaza and Jonathan for the warm welcome and fun celebration planned for the team, including a pizza party for them and their families.”

“All of Las Vegas is proud of the accomplishments that the Summerlin South team made in the All Star postseason,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino. “We look forward to hosting the team and their families, and we hope all of their fans come out to celebrate with them and enjoy the fireworks show.”

The summer fireworks shows are staged from the top of the Plaza’s South Tower every Friday at 9:15 p.m. from May through September.

The public can watch the Welcome to the Weekend Friday Fireworks Show for free at the rooftop pool, at Carousel Bar under the Plaza’s iconic dome, and from in front of the Plaza on Main Street, which will be closed to vehicular traffic during the show for viewing the fireworks from Carson Avenue to Ogden Avenue.

The Plaza’s fireworks will be dependent on weather conditions and are subject to change or cancellation. Updates will be available on the Plaza’s social media channels, including Facebook, Instagram and Twitter.

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Gambling in the USA

New Hampshire Charitable Gaming Revenue Hits $24.8M in July

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New Hampshire charitable gaming revenue has reached $24.8 million last month, up from the previous year’s figure of $14.5 million, boosted by the opening of new casinos.

The latest figures come from the New Hampshire Lottery and Gaming Commission, which shows that of the 15 casinos, only four saw losses, while four others were not in operation last July.

The Nash Casino, which opened in March, generated the highest revenue of all the casinos – $5.8 million.

The highest year-over-year increase was seen by the Revo Casino Lebanon, which opened in a new location in December, and saw revenue rise by 321% from $387,836 to over $1.6 million.

Other notable rises were seen from the Lakes Region Casino, which generated an increase of 24% year-over-year and The Brook, which saw a 17% rise from $4.7 million to $5.5 million.

The biggest declines came from The Lucky Moose Casino, where profits dropped by 79% from $666,454 to $139,748, and the Gate City Casino, which saw profits fall by 16% from $2.7 million to $2.3 million.

Historic horse racing revenue rose by 85% year-over-year, from $10.6 million to $19.7 million, while games of chance revenue increased by 53% from $3.3 million to $5.1 million.

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