Internet betting has not panned out as the savior for Atlantic City, and the state has so far been blocked from letting its casinos open sports books, but Garden State gaming regulators did just give one casino the OK to host what is likely the first ever casino-run free-throw tournament.
According to the Associated Press, the Borgata Hotel Casino & Spa has received state approval to run what is considered the nation’s first physical skill-based gambling contest put on by a licensed casino operator. The state is expecting more to follow.
The Borgata’s Mar. 21 free-throw tournament will feature a $20 buy-in. Contestants will compete in 90-second rounds for the right to play in the final round-of-16 in a bracket format. The top four finishers will split $10,000, with the winner getting $5,000.
Atlantic City doesn’t have sports books, so it appears unlikely that any casino-facilitated side bets will be allowed on this tournament or future ones.
The report added that in order to play you would need a valid Borgata players’ club card.
Despite the five-figure prize pool, the casino reportedly hopes LeBron James will enter.
A handful of Atlantic City casinos closed last year, and another one could do so this year. Competition from casinos in nearby states is blamed for Atlantic City’s huge contraction.
The legalization of web gambling for Atlantic City casino companies was once touted as the strategy to prevent casino closings. Casinos closed despite Internet betting revenue.
