New Jersey Sportsbetting Sees $2 Billion Wagered

Punters in the Garden State have become fond of sportsbetting, having wagered almost $2 billion on the activity since last summer.

The numbers come as the Division of Gaming Enforcement, which reported that more than $320 million was wagered at books in the state during February. The Super Bowl was a huge draw for the month, with most of the action coming the day of the event and the two days preceding. The regulators are of the belief that March will be even larger, as the NCAA Men's Basketball Tournament will get underway, and the bevy of events lends the possibility for more money to be wagered.

The industry has boosted up land casinos in Atlantic City, as the brick and mortar locations have physical books, and they also profit by offering online versions as well. New Jersey Casino Control Commission Chairman James Plousis spoke about the impact, noting: "It's clear the new gaming options and other amenities are continuing to grow the Atlantic City market."

New Jersey has become a huge market for legalized sportsbetting, as its proximity to New York City and Philadelphia makes it an attractive spot to travel a few minutes to in order to get your bets in. Increased competition is likely coming though, as Pennsylvania gets set to offer the activity, and New York is reportedly working on legislation.