New Jersey Poised to Overtake Vegas as Sports Betting Capital of US
It has been just over a year now that New Jersey legalized sports betting and already in recent months the Garden State reports higher revenue numbers than that of Nevada, the only state that had allowed the activity on a grand scale previous to 2018.
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From the New York Post:
Indeed, it only took 11 months for New Jersey to overtake Nevada’s sportsbook wagers on a monthly basis when it booked $318.9 million worth of sports bets in May, versus $318.3 million for Nevada. NJ did it again in July, with NJ sports bets that month coming in at $251 million, versus $235 million for Nevada.
New Jersey has more than doubled the number of sports wagering sites it had last year at this time when Nevada reported $2.7 billion in handle from September through January compared to New Jersey pulling in $1.5 billion.
Online sports betting already accounts for 80 percent of total wagers in New Jersey.
In just over a year, more than a dozen states have legalized sports betting after the US Supreme Court threw out decades of prohibition.
New Jersey’s 9 million population, not including 8.5 million nearby New York City residents, compares to just 2.5 million in Nevada , The Post does point out.
- Gilbert Horowitz, Gambling911.com
