Odds Predict Over 15,000 Engagements in the Garden State
Being the day for romance, Valentine’s Day often sees countless love-struck hopefuls popping the question that everyone hopes is answered with a “yes.” In fact, events management specialists Chillisauce’s survey of over 10,000 people found that February 14th outshone every other day as the best to propose, receiving 36% of votes, surpassing Christmas, New Year’s, and the day the couple first met.
Well, that “countless” number may be more tangible, according to US-Bookies.com, the intelligence website that serves as a hub for state-based gambling knowledge, including our website, Bet-NJ. Based on gathered data, the gambling aggregator established a hypothetical over/under for the number of engagements on Valentine’s Day in the U.S. to be 500,000. The smart money appears to be on actually more than half a million Americans committing to each other this Thursday. Odds are 8/11 for the over, better than the even odds for the under. In short, the oddsmakers predict record-breaking romance in America this year.
New Jersey Is For Lovers
Using the same data, US-Bookies also reports the state-specific over/under for New Jersey is 15,000. Based upon the data, it may have to change its nickname from the Garden State to the Romance State, as the wagering numbers point to New Jersey being the most romantic state (per capita) than any other in the country.
US-Bookies betting industry analyst Alex Donohue suggests the different amount of per-capita engagements by state could suggest varying levels of romance, stating, “Although the overall number of proposals in other states will be higher, the line suggests New Jersey is likely to be the most romantic come the 14th based on the number of people popping the question relative to overall population. There must be something in the Garden State’s water.”
It’s not just the winter cold that has people interested in getting cozy. For example, despite Pennsylvania’s population outnumbering New Jersey’s by more than 3 million, the Garden State is expected to see only 5,000 fewer engagements on February 14th. In fact, the data predicts that there will be more than one engagement for every 600 people, whereas Pennsylvania will see one per every 640. Combining this with the fact that the over has more favorable odds, New Jersey may be the most romantic state in the country come Valentine’s day.
The Gambling Industry Weighing In
These odds are merely indicative of statistics and trends being analyzed by oddsmakers in the gambling world. However, this data may come as a surprise, as recent research has suggested Millennials are taking their time when it comes to tying the knot. That is a contradiction to Statista, however, which reports that the yearly number of married couples in the U.S. has increased since 2011, so engagements should follow a similar trend.
Shopping data also indicates the number of engagements may not be so shocking, as the National Retail Federation predicts Valentine’s Day spending to increase to $20.7 billion this year, and jewelry will account for almost $4 billion. The jewelry industry should also rejoice in New Jersey being the most romantic state this year, as the Garden State has among the highest on average spending on engagement rings in the country.
Despite the gambling industry’s strong belief in true love, these outlets are rarely as popular as sports betting, especially since non-sports gambling still hasn’t been legalized in the U.S. That’s a shame, considering how much revenue the Garden State has received in taxes since legalizing sports betting in June of 2018. As evident by New Jersey, more people will gamble if there are events to bet on and convenient ways to do it.
When online and mobile gambling became operational in August, more money was spent gambling than the June and July combined. Because online sportsbooks opened up right in time for the NFL season, September’s handle nearly doubled Augusts’. Even the Super Bowl, one of the biggest gambling days of the year, draws the interest of many non-fans with prop bets, where money is wagered on the length of the National Anthem, the color of the Gatorade poured on the winning team’s head coach, the first commercial after the kickoff and many more events. Reaching more markets beyond sports fans opens up new sources of tax revenue that would otherwise not exist.