Sports gamblers bet more than $1 billion in New Jersey over a single month, breaking national records

Sports gamblers bet more than $1 billion in New Jersey over a single month, breaking national records

  • New Jersey took over $1 billion in sports bets this September, setting a new national record. 
  • Atlantic City’s casinos and racing tracks collectively netted $82.4 million in revenue. 
  • Over 90% of the bets were placed online, flexing the value of legal online gambling sites. 

Sports gamblers in New Jersey placed over $1 billion in bets last month, setting a new national record. Since the beginning of this year, bettors have waged a total of $7.1 billion in the state, according to records from the New Jersey Division of Gaming Enforcement. 

The start of college and professional football seasons, paired with the accessibility of online gambling platforms, has allowed the Garden State to declare itself the “nation’s sports betting capital,” in the words of Governor Phil Murphy. He said the new milestone is “shattering records, creating jobs, and boosting our economy,” in a tweet on Tuesday. 

Out of the $1 billion waged on sports events, Atlantic City’s casinos and racing tracks collectively netted $82.4 million in revenue this September.

The Meadowlands Racetrack, which hosts horse races and offers both in-person and online betting, accounted for approximately half of the state’s total revenue. Football wagers last month won New Jersey sportsbooks a total of $10.3 million.

Over 90% of September sports bets in New Jersey were placed online, with a little under $92 million worth of bets placed in person. The state’s digital sportsbooks capitalize on nearby gamblers from New York City, where online sports betting is not yet legal.

Completely online sports betting that doesn’t require in-person registration is only legal in 17 US states, according to US Bets. Idaho, Wisconsin, and Utah are some of the only states not pursuing mobile betting options. 

Online gambling in New Jersey has skyrocketed by nearly 40% since last year when many sports events were canceled due to COVID-19. Atlantic City Casinos closed in March 2020 and reopened four months later with operating restrictions.

Industry leaders in the space are hoping this year’s NFL season will propel their sports-betting initiatives into the 2022 sports calendar, which includes marquee gambling moments like the Super Bowl and March Madness, and the hotly anticipated launch of online gambling in major states like New York, Insider’s Ashley Rodriguez reported. 

“Everybody is betting that this NFL season is going to be their magical springboard to post NFL,” Larry Everling, a sports gaming consultant, told Rodriguez. “They’re forced to spend.”

https://ragheadnews.com

Leave a Reply

Your email address will not be published. Required fields are marked *