New Jersey’s retail and online sportsbooks have generated nearly $3bn in bets and almost $200m in revenue in the 12 months since legal sports betting officially launched.
And by collecting $318.9m in May bets, New Jersey appears poised to surpass Nevada in monthly handle for the first time, according to analysts for PlayNJ.com.
Dustin Gouker, lead sports betting analyst for PlayNJ.com, said: “We knew that sports betting in New Jersey would be successful, but it is fair to say that so far it has exceeded our expectations.
“$3bn in bets in 12 months is an impressive milestone by any measure, and in just a year, New Jersey is set up to become the nation’s largest legal sports betting market.”
Buoyed by baseball and the NBA playoffs, New Jersey’s online and retail sportsbooks accepted $318.9m in bets in April, up 1.7 per cent from $313.7m in April, according to official reporting. New Jersey’s online and retail sportsbooks have now accepted $2.9bn in bets in the 12 months since launch.
The monthly handle has put Nevada in New Jersey’s sights as the country’s largest sports betting market, at least for May. The Silver State – which will not release its May data until later this month – generated a near-record $315.5m handle in May 2018.
