New Jersey Has its First $1 Billion Month in Sports Betting
It's one for the record books. In the last three plus years of offering legalized sports wagering in the state, New Jersey has recorded its first ever $1 billion month.
September, which kicks off Football, resulted in exactly $1.01 billion in wagers.
Of that lofty total, known as the “handle,” over $82 million was kept by the casinos and tracks as revenue after winning bets and other expenses were paid, Wayne Parry of the Associated Press reported.
“New Jersey has always been a strong gaming market,′ said Casey Clark, senior vice president of the American Gaming Association, the casino industry’s national trade group. “Crossing the $1 billion handle mark in September is an impressive indicator of the appetite of New Jerseyans and Americans across the country who have embraced legal, regulated sports betting.”
Sports betting revenue up over 40% from a year ago when sports were somewhat limited, to $453.5 million.
For the first nine months of this year, New Jersey sports books have taken in over $7 billion worth of bets.
“New Jersey reaped the benefit of being an early adopter of sports betting,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the gambling industry. “By embracing mobile sports books and making sports betting more accessible than even Nevada, New Jersey has now achieved an important milestone of more than $1 billion wagered on sports in a single month.”
- Gilbert Horowitz, Gambling911.com
