After being completely shut off from placing any NBA wagers, Atlantic City’s Golden Nugget will finally be able to take bets on all NBA games in the season bar those involving the Houston Rockets. Here’s why.
Golden Nugget in NJ Stars Accepting NBA Bets
New Jersey has given the Golden Nugget, the famous Atlantic City-based casino, rights to accept bets on National Basketball Association (NBA) games. As a result, Tilman Fertitta, the billionaire who owns the casino, will have all the more reason to want the Houston Rockets to win, but not really be able to place bets at his property.
Mr. Fertitta owns the popular NBA franchise that went on to compete against the Golden State Warriors in the 2018/2019 NBA Season, losing several close games and falling out the race.
With New Jersey legalizing sports betting in May 2018, the Golden Nugget casino has finally managed to win a license of its own. Part of the reason why the Nugget had to wait was because of Mr. Fertitta dual ownership of the team and gaming venue.
However, things have changed, and today patrons at the Golden Nugget would be able to enjoy a sports bet on NBA games so long as it doesn’t involve the Rockets. This is a great improvement in streamlining the overall regulations, with similar bills already passed in Nevada and Mississippi.
Mr. Fertitta’s brand is allowed to accept wagers in those states so long as they don’t involve Rocket games. However, sports bettors may still find reluctant to visit the Golden Nugget, as the casino wouldn’t be able to accept some important wagers.
With this being said, it’s unlikely that a bettor would travel between two locations to place a wager on the same day. The discomfort of having to be physically in a location already has taken enough toil on the industry.
Commenting on these developments, Steve Scheinthal, a counsel for the parent company that owns the Golden Nugget, said that it was like going into a box ring with one hand tied behind one’s back. While the Nugget appreciated the opportunity, Mr. Scheinthal said, the casino was indeed at a significant disadvantaged insofar NBA betting went.
Since May 2018, over $3.5 billion worth of sports wagers have been placed in New Jersey alone. Overall, the sports betting industry in the United States is estimated at $150 billion, which is a significant upgrade.
Sports Betting in North America Picking Up
With the sports betting industry reaching almost every state, North America, and the United States in particular have been focusing exclusively on bringing offshore betting into the mainland. In fact, some offshore sportsbooks have already stopped accepting players from New Jersey.
Some have seen this as an attempt to enter the mainstream betting space and re-brand such companies as white hat operators. Skeptics have said that this would probably not be the case in places such as the Garden State, which have very strict rules against bad actors.