New Jersey Is the First US State to Hit $1 Billion on Sports Betting

By John Isaac,
Editor at online-gambling.com

John Isaac Editor at online-gambling.com

John Isaac is an editor with many years of experience in the gambling industry. He writes expert articles on card games like blackjack and poker. In addition, he is also well aware of the US gambling laws and the Indian and Dutch gambling markets. You can rely on verified information and insightful details.

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Last updated: November 3, 2021

In the first year of betting settlement in most US states, the collection figures are eye-opening. New Jersey was the first state to surpass the 1 billion dollar monthly record in sports betting in the United States.

In September, New Jersey received $1.01 billion in sports wagering, with 92% of those wagers made online. New Jersey legalized sports betting 3 years ago and has since seen a steady increase in revenue.?

The proximity of New York, which has not yet made sports betting legal, as well as the large sums of money raised by the adjacent state and, in particular, New York City, benefit the American state.

Setting this record was helped by the fact that many wealthy people from New York who commute to New Jersey bet there.

The Previous Record Was Also Set by New Jersey in December 2020

NJ.com, a company that tracks events in the gambling industry, announced that in September New Jersey became the first American state in history to surpass $ 1 billion in monthly sports betting.

According to official data, New Jersey bookmakers attracted $ 1.01 billion in September and thus broke the American record, which was also previously held by New Jersey ($ 996.3 million in December 2020).?

It is reported that over the past month in New Jersey also grew by 40% in revenue from land-based casinos and online gambling, amounting to $ 453.5 million.

The previous national record for the sum of total sports betting in one month was also set in New Jersey in December 2020, with players waged here for $ 996 million.

In 2018, New Jersey authorities won a case in the US Supreme Court and were able to offer legal sports betting in all 50 states. In the first nine months of 2021, New Jersey bookmakers accepted over $ 7 billion in bets.

Gambling Insider notes that no matter how large injections September is marked, the New Jersey market has not yet reached its ceiling with the start of the NBA and minor basketball leagues; the infusion of money into the bookmaker’s office will grow.

More about the Prominent Participants

The nine Atlantic City gambling clubs also had a good September, with total revenue over 30 days growing about 30% year over year to just over $ 248.5 million. These sites are also reported to have boosted their online betting revenue by nearly 40% to approximately $ 122.5 million. The Borgata casino is seeing a 75% increase in player revenue to approximately $ 111 million.

As for the other lucky ones, NJ.com reports that gaming revenue from the Casino Atlantic City and Hard Rock Cafe grew about 36% year over year to $ 48.6 million in September, while neighboring Tropicana Atlantic grew 33 % earned $ 34.8 million. The source said that Ocean Casino Resort’s monthly revenue increased 8.5% to the US $ 32.1 million, of which Top 5 Harrah’s Resort Atlantic City increased 42.5% to the US $ 27.8 million.