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New Jersey went live with legal sports betting action in June 2018 after winning a US Supreme Court case in May of the same year that essentially paved the way for all of the other states to move forward with taking bets as well.
The Garden State has rapidly become a giant of the legal sports betting industry. In fact, just a few months ago in May, the state captured $318.9 million worth of betting action compared to Nevada’s $317.4 million.
It’s totally bananas, but in less than a year, NJ was able to edge out Las Vegas and the rest of Nevada in sports betting handle; even if it’s only for one month, it’s still a major achievement.
For the record, since the first legal bet was placed in New Jersey, $3 billion has been tallied in revenue, trailing Nevada’s handle of $5.3 billion during the same span.
However, it could only be a matter of time before the pendulum swings to New Jersey as the state has a population of 9 million versus just 2.5 million in Nevada. Obviously both states get a ton of visitors throughout the year – inflating those figures higher, but the difference in the consensus numbers alone will eventually be a huge factor.
Brick and mortar sportsbooks are located at casinos, racetracks and OTB facilities, but another major option is betting online via mobile app offerings, which is currently accounting for more than 80% of the wagers being placed in the state.
Another major accomplishment for New Jersey included a month of June (exactly one year after legalization) that saw $273 million in sports betting handle, while generating nearly $10 million ($9.7) in revenue.
Although not as large as May, this is still eye-opening since the summer months really don’t offer much betting action outside of baseball, golf, and tennis. It is typically known as a slower time of the year compared to when college and pro football are in season.
New Jersey has also filled 39,000 jobs in the gaming industry, and funded public programs with $1.2 billion of its revenue.