• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war

2

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

3

Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation

1

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war

2

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

3

Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation
sports betting

See Who Won Super Bowl 2019’s Battle Between Bookies and Customers

By
Christopher Palmeri
Christopher Palmeri
,
Ira Boudway
Ira Boudway
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Christopher Palmeri
Christopher Palmeri
,
Ira Boudway
Ira Boudway
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
February 4, 2019, 7:28 PM ET
New Jersey legalized sports betting
With betting legalized in states beyond Nevada, Super Bowl 2019 was the first big test for betting in New Jersey and seven other states. The Monmouth Park Sports Book is viewed on the first day of legal sports betting in the state, in Monmouth Park in Oceanport, New Jersey on June 14, 2018. - New Jersey Gov. Phil Murphy on June 11, 2018 signed a law that authorized legal sports betting in New Jersey, ending a nearly decade-long saga that included a multimillion court battle against the nation's top sports leagues and a landmark ruling from the nation's highest court. (Photo by Dominick Reuter / AFP) (Photo credit should read DOMINICK REUTER/AFP/Getty Images)Dominick Reuter—AFP/Getty Images
Add Fortune on Google for similar content.

FanDuel reported losses of $5 million on Sunday’s Super Bowl—suggesting the first big test of New Jersey’s nascent sports-betting business was better for customers than bookies.

More than 75% of the money was bet on the favored New England Patriots, which beat the Los Angeles Rams in the lowest-scoring Super Bowl ever. Many customers also took advantage of an introductory offer that gave them favorable odds. But if you took the 53-1 they offered on either team, the payoff was in store credit.“ All of this combined to leave New England as the big loser for the FanDuel Sportsbook,” the company said. “Very big in fact.”

A U.S. Supreme Court ruling last year that allowed sports betting outside Nevada has set off a gold rush among casinos, online betting companies, and sports teams. Eight states now allow sports betting, a number that could double this year, according to industry estimates.

The New Jersey Division of Gaming Enforcement said Monday its casinos and horse tracks lost $4.5 million on $34.9 million in wagers from the game.

DraftKings, which parlayed its leading role in fantasy-sports betting to the top position in New Jersey, paid out $11 million to online bettors. It didn’t offer results from the New Jersey and Mississippi casinos where it operates. The company lost a “relatively small” amount, according to Johnny Avello, sportsbook director.

“Overall, the players had the best of it,” he said in an interview. “They picked the winning side.”

What of Nevada?

The expansion of gambling to other states may have an impact on Nevada, which has long had the lock on legal sports betting. William Hill, one of the top players there, said its business was “slightly up” in the state, after a difficult 2018.

Overall, wagers fell 8% to $145.9 million, according to the Nevada Gaming Control Board. Customers won $10.8 million, a significant increase from last year.

The low-scoring game Sunday also meant there were likely fewer in-game bets, such as points scored each quarter, according to Dominic Mansour, chief executive officer of Bragg Gaming Group, a sports-betting news site in the U.K. Such bets can make up as much as 70% of the total betting.

“When a game is that boring, it’s bad for the sport-betting sites,” he said.

FanDuel, which merged last year with Irish bookmaker PaddyPower Betfair, operates the closest sportsbook to New York, at the Meadowlands Racetrack in East Rutherford, N.J.

About the Authors
By Christopher Palmeri
See full bioRight Arrow Button Icon
By Ira Boudway
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

t
PoliticsWhite House
Trump monetizing his social media account is ‘odious’ and ‘brazen corruption’ — or an attempt to revive a 70% stock price crash since election
By Bernard Condon and The Associated PressJuly 18, 2026
3 hours ago
xi
AIChina
A Chinese Pink Floyd fan is giving Claude and Chat their own DeepSeek moment — an AI model just as good and half the price
By Matt O'Brien and The Associated PressJuly 18, 2026
3 hours ago
bank
BankingBanks
Citizens Bank drops links with private prison companies, citing ‘changed commercial circumstances’
By Ken Sweet and The Associated PressJuly 18, 2026
3 hours ago
tourism
Travel & LeisureWorld Cup
‘They put 100% effort into looking after you’: Wary soccer fans stunned by a look at the real America, not the image they’ve been sold by the media
By Sarah Raza and The Associated PressJuly 18, 2026
4 hours ago
dna
LawDNA
‘My mind was just completely blown’: 2 families sue hospital after DNA proves their kids were switched at birth 38 years ago
By Mikella Schuettler, Thomas Peipert, Gene Johnson and The Associated PressJuly 18, 2026
4 hours ago
Trump, Iran and Jimmy Carter — experts think it’s ‘dawning on him’ that he should have paid closer attention to history
PoliticsDonald Trump
Trump, Iran and Jimmy Carter — experts think it’s ‘dawning on him’ that he should have paid closer attention to history
By Will Weissert and The Associated PressJuly 18, 2026
4 hours ago

Most Popular

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war
Economy
U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war
By Sasha RogelbergJuly 17, 2026
1 day ago
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
C-Suite
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
By Fortune EditorsJuly 15, 2026
3 days ago
Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation
Law
Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation
By Marco Quiroz-GutierrezJuly 17, 2026
1 day ago
Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google
Big Tech
Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google
By Mia OsmonbekovJuly 16, 2026
2 days ago
Trump may have to choose between an endless quagmire and ceding the Strait of Hormuz to Iran
Energy
Trump may have to choose between an endless quagmire and ceding the Strait of Hormuz to Iran
By Jordan BlumJuly 18, 2026
10 hours ago
After the Supreme Court killed his first tariffs, Trump turns to a new legal workaround to impose 25% tariffs on Brazil and possibly others
Economy
After the Supreme Court killed his first tariffs, Trump turns to a new legal workaround to impose 25% tariffs on Brazil and possibly others
By Marco Quiroz-GutierrezJuly 17, 2026
21 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.