The DraftKings Sportsbook mobile application dropped as an invite-only product yesterday and it looks pretty damn good. Per publicly available screenshots, users will find a familiar DraftKings interface that offers a plethora of traditional and live betting options across all major sports. While we will soon offer a full review of the app’s functionality, design, odds, and betting options, there’s one element that is of particular interest:

This is super cool and innovative from @DraftKings SPORTSBOOK. Cash out of a winning wager before the game is complete. #Wow @PaulLiberman @JordanMendell pic.twitter.com/vBX40Q4DfN

— Woody (@Woodrow1616) August 1, 2018

Essentially, the live ticket system will give users the ability to treat traditional wagers as live bets. If a bettor has a standard pregame bet on the Phillies at -110 to beat the Braves, meaning they have wagered $110 to win $100, and the Phillies take a 3-0 lead in the first, the odds of winning the bet have dramatically increased in their favor. As such, bettors can use that favorable leverage to cash out a hedged profitable payout on their initial wager. Conversely, if a bettor makes the same wager, but the Braves jump ahead 3-0, the bettor can buy their way out as a form of damage control. This would be a sensible tactic to take if a bettor:

• Doesn’t want to wait for the game’s completion
• Wants to guarantee a profit when odds progress in their favor
• Wants to limit damage when the odds progress against their favor

It’s a unique feature that gives players yet another option that enhances the sports gambling experience, but it’s also one that comes with some potential pitfalls. Certainly this option will provide players with the ability to pull a profit from wagers they could eventually lose, or save themselves from a more damaging loss, but that won’t always be the case. Inexperienced and overanxious gamblers may take unnecessary losses in the early stages their wagers by needlessly panicking over a game’s early, and often meaningless, results. Meanwhile, some bettors will hedge winning tickets at pennies on the dollar, thus limiting upside while locking in downside on long shot bets.

The smart advice when it comes to live tickets is the same as it is with any live betting option. Stay disciplined, make careful and measured moves, and don’t overreact to a game’s natural momentum swings.

That said, we’re super excited about this, and it’s super cool. Sports are going to change because of stuff like this.

Check out our New Jersey sports betting page to get updated, and for a full review, when DraftKings Sportsbook goes live to the general public. If you’re new to this sort of thing, check out our how to bet on sports guide.

DraftKings is soft-launching its sportsbook in New Jersey today, according to multiple reports.

From ESPN.com:

DraftKings, a prominent daily fantasy operator entering the sports betting space, announced Wednesday that it is opening registration for its mobile sports betting app in New Jersey and will begin with an invite-only trial period. Participants in the trial will be able to bet, win and lose real money. DraftKings did not give a definitive length of the trial but said that it is the final step before receiving approval by New Jersey Division of Gaming to officially launch the sportsbook in the state.

This jumps over the MGM announcement that they would be live by the end of the week.

The key phrasing here, however, is “invite-only,” so it might be days or weeks until it’s available to the public.

DraftKings Sportsbook will be backed by Resorts in New Jersey. For a list of all sports betting sites, check out our New Jersey sports betting page.

We will have a full review of the DraftKings Sportsbook as soon as it goes live.

This is a big deal, so to speak.

When the Supreme Court overturned a 1992 ruling which effectively banned sports betting everywhere but Nevada, the leagues immediately began campaigning for a 1% integrity fee on all bets to come from legal sports betting. This was met by scorn from the gambling industry and was mostly laughed at by observers. The industry felt any partnership with the leagues should come as a result of natural business agreement rather than a government-mandated tax.

We now have the first of those deals.

Today, the NBA and MGM announced their partnership

From ESPN:

On Tuesday, commissioner Adam Silver announced that the league struck a deal that makes MGM Resorts the exclusive official gaming partner of the NBA and WNBA. MGM also receives the rights to use league highlights, logos and a direct data feed from the NBA that will be used to help fuel the company’s growing sports betting footprint.

Industry sources pegged the deal to be for three years and at least $25 million.

Silver said teaming up with the NBA will give MGM an edge over its competitors and produce a superior experience for customers.

“Those operators who create the best experience for consumers that have official data, that have the official imprimatur of our league and other leagues as well, are going to be those that win in the hearts and minds of consumers,” Silver said during an afternoon press conference in New York City to announce the partnership.

Jim Murren, CEO of MGM, sitting side by side with Silver, called the deal “historic.”

It is. This has been a long time in the works. Adam Silver was the first major professional sports commissioner to openly campaign for legal sports betting when he wrote an op-ed in the New York Times in 2014. Four years ago, we had Scott O’Neil on our podcast, and he talked about how sports betting was on its way.

So it should be no surprise that the NBA is the first league to enter into official partnership.

Most important, from a practical standpoint, is the use of direct data feeds. This opens up the possibility for near limitless live betting opportunities. By using an official data feed from the NBA, MGM has the ability to offer in-play bets based on official information, so things like shot distance, player speed, and other proprietary data is in play beyond just the traditional box score stats that can be siphoned from anywhere.

As we’ve discussed, real-time betting is where the future lies for sports betting, and having these official partnerships with the leagues will be crucial.

Interestingly, this partnership doesn’t include the ability to offer betting during live game streams, but something like that is a possibility down the line.

As for mobile sports betting, MGM CEO Jim Murren said today that the Borgata plans to offer it by the end of the week (MGM owns the Borgata). But it’s unclear what he means by that. In an interview with CNBC that seems to have caught the attention of everyone, Murren said “at the Borgata.” It’s possible he means betting from a mobile device within the casino, which by the way will be the only type of mobile betting in Mississippi. New Jersey plans to offer full online sports betting, but this might not be that just yet. If it is, it would be the first online sports betting option offered in New Jersey, though options from DraftKings and FanDuel are expected very soon.

Regardless, we’ll have a full review of the MGM app when it’s available, and for updates on sports betting, bonus codes, and the best odds, sign up to our email list:

Caesars announced plans to open sportsbooks at two of its Atlantic City properties– Wild Wild West and Harrahs’.

From the press release:

The sports betting offering will begin with facilities at Bally’s, Wild Wild West on July 30 and Harrah’s Atlantic City and August 1. Caesars plans to follow the retail openings with the introduction of mobile sports betting throughout New Jersey on the Caesars Casino & Sports mobile app. In Mississippi, sports betting locations are targeted to be available at Horseshoe Tunica and Harrah’s Gulf Coast in mid-August, just in time for football season. Caesars has quickly mobilized to provide guests a new exciting gaming experience that sports fans can trust.

Sports betting began at 11 a.m. today at Wild Wild West.

As for mobile or live betting, it looks like Caesars will institute betting through its own branded app. That differs from how other casinos are handling things. DraftKings Sportsbook, FanDuel, 888 bet and others are expected to soon launch New Jersey online sports betting apps– most of those will be consumer-facing offerings backed by licensed operators, like Resorts, in the case of DraftKings.

Whatever the case, legal online betting is expected to go live in the coming weeks in New Jersey. DraftKings, FanDuel and 888 should all be up and running by football season.

If you want to be alerted when these sites go live, receive exclusive bonus codes and the best odds offered, sign up for our sports betting email list:

You may have never heard of PointsBet, but the Australian sports betting company announced yesterday that it is coming to New Jersey and New York through partnerships with Meadowlands Racetrack and Tioga Downs.

PointsBet appears poised to be one of the companies that re-shapes the way we think about betting on sports.

As we’ve written, online sports betting will consist of much more than just betting on lines and over-unders. [I’ve always thought there’s the possibility for a matchmaking system, which allows sportsbooks to match bets on opposite sides of a line, so there’s equal action on both sides (what they want so they can get their 10% vig), much like daily fantasy sites do with head-to-head matchups. This is where the money is made– guaranteed profit regardless of outcome.]

PointsBet, meanwhile, offers a much more high stakes concept, which is best explained int his video from their website:

Rather than just betting the over-under, you win or lose by a multiple of how many units a prop bet lands from its center. For example, if you bet on the over for a quarterback to throw for 300 yards and they throw for 320, you win by a multiple of 20. Downside: if he goes under by 20 yards, you lose by the same multiple.

This adds an escalator to any bet, seemingly without the risk of long-shot odds, but with the risk of losing much more (injuries seem particularly scary here). But there are market caps for how much you can win or lose, so things can’t get too crazy.

PointsBet seems to be aggressively pursuing the US market, and their offering will likely be one of many inventive ways we’ll bet on sports online. We’ll be adding them to our New Jersey sports betting page and our list of sports betting sites.

Another popular trend in online betting they’ll offer is the ability to NAME YOUR OWN PROP. Check this out:

Our #NameABet markets for Game 7 between the #Rockets & #DubNation are increasing by the minute, jump on board our user-tweeted suggestions!

Link: https://t.co/KHGG872tSu pic.twitter.com/TbRaaGbJ4r

— PointsBet (@PointsBet_AU) May 29, 2018

All of this will reinvent the way most people think about betting, making it much more akin to fantasy than the grimy underworld it was long associated with. If you’re in New Jersey and want to get our updates on where and when you can bet legally, and get our guide for 6 mistakes to avoid, just sign up with your email address here.