..

NJ Sets US Sports Betting Record at $668 Million

Written by:
Associated Press
Published on:
Sep/15/2020

ATLANTIC CITY, N.J. (AP) — New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, plunking down almost $668 million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the coronavirus outbreak, figures released Monday showed.


*6 weeks free trial - test drive - best in the biz
*Deposit with Bitcoin - They'll double it!
*Get your own domain, customized website, logo
*Switch in under an hour, earn mrore $$ for doing so
*Odds featured on DonBest.com
*Thousands of betting options daily + live in-play
*Easy and discreet payment options include gift cards
*Walmart gift cards also accepted
Start Earning Money From Your Sheet Here

That smashed the previous record of $614 million set in Nevada in Nov. 2019.

The extra money helped cushion the blow of months of losses incurred by New Jersey’s casinos and two racetracks that offer sports betting, helping them start to rebound financially.

The state Division of Gaming Enforcement shows the casinos and tracks collectively won $326.3 million from gamblers in August.

That figure was heartening to the casinos because it came in a month where they were restricted to operating at 25% of capacity, and it also included a doubling of internet gambling revenue compared to a year ago.

All told, the casinos and tracks saw their revenue decline by only 7.5% compared to August 2019, when they were going full-blast and there was no pandemic.

“Recovery is underway, even with continuing travel advisories that decreased visits from out of state,” said James Plousis, chairman of the New Jersey Casino Control Commission. “Atlantic City’s casino win was almost 70 percent of last August’s strong performance, although the months are not reasonably comparable because of restrictions on capacity, amenities, and entertainment.”

He also noted that indoor dining was allowed to resume on Sept. 4, a development which will presumably be felt in next month’s revenue report.

The biggest news was a record-setting performance by New Jersey’s sports betting industry. In addition to surpassing Nevada’s previous high, the $668 million wagered on sports in August surpassed the previous New Jersey record of $562 million set in Nov. 2019.

After paying off winning bets, the casinos and tracks reported $39.5 million in revenue on sports bets in August. It was the first full month of baseball this year, and gamblers also had hockey and basketball playoffs to bet on.

Internet gambling brought in $87.7 million, more than twice what it had a year earlier.

Only two casinos, Ocean Resort and the Golden Nugget, managed to post year-over-year revenue increases. Ocean was up 3.7% to $26.6 million, and Golden Nugget was up 2.5% to $37 million.

“Our year-over-year gaming revenue increase is a testament to the momentum Ocean created prior to the closure, which immediately resumed upon reopening in July,” Terry Glebocki, Ocean’s CEO, said in a statement. “We are pleased with our August performance despite a less favorable calendar, ongoing restrictions on occupancy and the lack of indoor dining until early September.”

Caesars had the biggest decline, down 31.4% to $21.2 million, followed closely by its sister property Harrah’s, down a nearly identical 31.3% to $21.4 million. Resorts was down 28.8% to $13.8 million; Tropicana was down 26.5% to $26.5 million; Bally’s was down 21.3% to $15.2 million; Borgata was down 19% to $64.7 million; and Hard Rock was down 3.5% to $39.4 million.

“We are pleased with the results from our first two months since reopening, as our strengths begin with Hard Rock’s industry leading ‘Safe & Sound’ protocols, providing good, clean fun within our destination for visitors,” Hard Rock president Joe Lupo said in a statement.

Two internet-only entities did well in August. Resorts Digital was up over 97% to $27.9 million, and Caesars Interactive NJ was up almost 87% to $9.2 million.

Among racetracks, the Meadowlands in East Rutherford, just outside New York City, took in $21.1 million in sports betting revenue compared with $11.8 million a year earlier, and Monmouth Park in Oceanport near the Jersey Shore, took in $1.8 million compared to $2 million a year earlier.

Gambling News

Atlantic City Casinos Bounce Back, Up 31% From a Year Ago

Atlantic City’s casinos and racetrack sports betting outlets are bouncing back convincingly from financial woes brought on by the coronavirus pandemic, taking in 31% more in August than they did a year earlier, after COVID-19-related closures ended.

Cowboys Lose DeMarcus Lawrence to Broken Foot

Cowboys Lose DeMarcus Lawrence to Broken Foot

The Cowboys are without wide receiver Michael Gallup, the offensive line is a bit of a mess at the moment, and now a word from Cowboys practice on Wednesday is that they lost defensive end, DeMarcus Lawrence, for eight weeks with a broken foot.

Raheem Mostert Opts for Season-Ending Surgery

Raheem Mostert Opts for Season-Ending Surgery

The timeline on Raheem Mostert’s return from the knee injury he suffered on Sunday just went from the eight weeks previously reported, to out for the season. Mostert has decided to have season-ending surgery to repair the cartilage in his knee, explaining in a released statement that the surgery gives him the best chance at a full recovery.

Free MLB Picks - Thursday September, 16 2021

Free MLB Picks - Thursday September, 16 2021

What is the best team in Major League Baseball right now?  That honor goes to the Toronto Blue Jays as they are vying for a Wildcard spot.  Gambling911.com has some free MLB betting picks for Thursday September 14, 2021

AL Wild Card Odds are Tight; Cy Young and MVP Favorites

AL Wild Card Odds are Tight; Cy Young and MVP Favorites

Heading into Thursday's games, the Blue Jays, Red Sox and Yankees are all tied for the first three Wild Card positions.

Syndicate