It’s no secret that sports betting has gained significant momentum after the US Supreme Court has ruled The Professional and Amateur Sports Act of 1992 as unconstitutional back in 2018.
New Jersey was among the first US states to legalize and regulate sports betting withing their borders. And ever since then, the laws and regulations have been evolving to adjust to the ever-growing demand for both online and land-based sports betting.
But now we’ve reached the point where innovations are necessary to meet the needs of bettors across the entire states. As it happens, it seems that micro-betting will be the next big thing in New Jersey’s gambling industry. So what are these micro-bets that everyone is talking about? Let’s find out, shall we?
What we cover
Redefining in-play betting
One of the major innovation is ports betting in general was the introduction of in-play or live betting. This allowed bettors to wager on various possible outcomes as the sports match progresses, hence the name.
Micro-betting, on the other hand, is a subdivision of in-play betting that focuses on even more specific wager. Officials from professional sports leagues and gambling companies discussed this at the North American SBC summit.
Here’s what some of the panelist said in this regard: “Imagine being able to make a bet with this level of specificity: the Yankees’ Aaron Judge will hit a home run on the fourth pitch he sees in a given at bat, which will be a curveball spinning at a certain speed.”
What is so special about micro-bets?
Taking what the panelist mentioned above, a simple $5 bet could net someone $5,000. Of course, the likelihood of that happening is low at best, but there’s always a chance. That said, in-play betting already offers a lot of flexibility as it is but micro-betting can take that flexibility to the whole new level.
Let’s not forget that micro-betting debuted in Ohio and Massachusetts thanks to Betr, a company that’s been promoting micro-betting for a while now. According to Betr’s CEO and founder, Joey Levy, he claims that micro-betting will be a preferred way people will bet on sports in the near future as it offers instant gratification.
Will Micro-Betting come to New Jersey?
It seems likely that micro-betting will find their way into New Jersey’s gambling market and will incentive new sportsbook players even with bigger offers than this bonus code deal for betMGM NJ. Looking at the things now, Atlantic City casinos are threatened by the new casinos opening in New York. Experts predict that Atlantic City casinos may lose 20% to 30% of their revenue and perhaps even close due to competition.
And since Atlantic City casinos also offer sports betting services, micro-betting may as well be their saving grace. However, nothing is the works yet so it remains to be seen how the situation will develop in the future.
