New Jersey Bets $16 Million on Sports in First Two Weeks

Sportsbetting has already proven to be a lucrative proposition for the state of New Jersey, as the state's Divison of Gaming Enforcement reported that $16 million was wagered on the activity in the first two weeks that it was available.

The first bet took place at Monmouth Park on June 14th and was joined by the Borgata the same day. Other casino properties followed suite shortly thereafter, with the activity proving to be popular among visitors. William Hill oversees the Borgata, Monmouth Park, and Ocean Resort books, with $987,000, $2.3 million, and $193,000 from each respective property being brought in as revenue during the period.

The state claims casino win of $3.4 million during that time, although this number is being scrutinized as many future bets are being treated as revenue at this point and have not paid out.

The Meadowlands Racetrack near the border with New York is set to launch their sportsbook this weekend, providing a lucrative opportunity for the industry to continue growing, as it provides ease of access to millions of potential bettors.

Commenting on the performance William Hill US CEO Joe Asher said, "While it's still early, we're obviously off to a great start. We always knew there was a big appetite for legal sports betting during the years of litigation, and now it is being proven.

"We are proud to be creating new jobs in New Jersey and bringing excitement to our customers. We can't wait until football season."