Garden State Punters Bet $3.2 Billion on Sports in First Year

Gamblers in New Jersey bet $3.2 billion on legalized sportsbetting during the first year that the activity was sanctioned.

The numbers were released by the New Jersey Division of Gaming Enforcement, who shared that the state became the largest sportsbetting market in May, beating out Nevada in terms of wagers placed. For the month, $318.9 million in wagers were placed. In June, the state took in $273 million in bets. For the year to date, casinos have earned $109 million off sportsbetting and paid in $13.3 million in taxes.

The results have proven to be beyond expectations for many in the Garden State, with numbers continuing to rise as more and more gamblers jump on board. Commenting on his company's results, Meadowlands Racetrack operator Jeff Gural said, "I am frankly shocked at how well we have done."

"I expect that in this calendar year we will do $500 million (in betting volume), which makes us the biggest in the world. We totally dominate New Jersey, and as long as New York decides to force their residents to either bet illegally or drive to New Jersey, now that we have self-bet terminals available for the football season and American Dream opening next door, I would expect to see our revenues continue to grow."

Things will likely continue to jump, as the NCAA and NFL football seasons are gearing up for action, which will bring in heavy betting.

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usbarbadosslim93
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15 July 2019 - 5:09pm
#1

That's a lot of cheddar. With all the sports fiends down there, I had an inkling that they'd be a big market. Unlike Vegas, there's not a lot of transient bettors, so you're going to get a more stable market.

sharpe

bgsharpe
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16 July 2019 - 6:34pm
#2

Yeah, good point there Slim.

We know sportsbetting is the biggest way of gambling worldwide so they in US it's just getting started I think, surely many other states would be eager to legalize it seeing those numbers.

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