New Jersey sees huge growth in sports betting

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Since the floodgates opened in May 2018 for legalized sports betting, the floodgates really haven’t opened.

Based on the experiences of the state whose challenge to federal law resulted in the Supreme Court ruling that authorized the state-by-state of wagering on sports, other states need to get moving.

Via Stephen Edelson of the Asbury Park Press, New Jersey generated a total handle of $540 million in January 2020. That’s a 185-percent bump over January 2019. Wagering on sports produced gross revenues of $53.6 million in January 2020, nearly tripling last January’s $18.8 million. New Jersey realized tax revenues of $6.6 million for the month.

Of the gross handle of $540 million, more than $470 million was wagered online.

Currently, 14 states have legalized sports wagering. Another seven are in the process of implementing it. All 50 need to be doing it, especially since (with the exception of Alaska and Hawaii) most citizens of non-betting states will be able to make a not-too-far trip to a neighboring state that allows betting.

3 responses to “New Jersey sees huge growth in sports betting

  1. Meanwhile Maryland continues to operate in the Dark Age…

    I try not to think about the amount of money the states losing out on while many of my friends and coworkers go to Delaware, Jersey, PA, West Virginia to do gambling. And its not just the NFL. Its all the other leagues, college, and march madness. Boys weekend? Always to another state

  2. You think Maryland is in the dark ages, try Texas. We have the world’s largest casino just across the border in Oklahoma, and any day you go there is is almost impossible to find a license plate that isn’t from Texas. When sports betting arrives there, Saturdays and Sundays will be even crazier. In the meantime our politicians take money from casino operator in OK and Louisiana to keep gambling out of Texas. Great leadership.

  3. If you listen to any sports radio station that has any air coverage in NJ, you will hear a sports betting commercial about every 15 minutes, all day long. It’s particularly noted that for online betting, you just have to be across the border, confirmed by your phone’s GPS. You live in NY? Pop over the border to the first convenience store you see in NJ, make a bet in the parking lot, go inside and get a pack of gum, and go home. Very similar to when Powerball was only in a handful of states – people would drive over the border to the first lottery retailer they could find, buy a bunch of tickets, and go home.

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