Sports betting is officially a billion-dollar business in New Jersey.
The Garden State’s Division of Gaming Enforcement announced Monday that $1.01 billion was bet on sports in the state in September, making New Jersey the first state to surpass $1 billion in sports bets in a month.
Furthermore, 92 percent of that betting was done outside of a physical sportsbook, speaking to the meteoric rise of online sportsbooks like FanDuel and DraftKings.
Sports betting was legalized in the Garden State in June 2018, and brought in $40 million in its first full month – slightly more than the daily average in September (just under $34 million).
New Jersey’s sports betting numbers are helped in part by the fact that legalization is still pending in New York, driving many consumers over state lines (especially in counties already west of the Hudson River) to place bets. Connecticut, too, could account for some of that revenue, although the Constitution State also finally legalized sports betting recently, and both retail and online betting will be fully live there as of October 19.
Related
Either way, Jersey is no stranger to setting sports betting benchmarks; per Darren Rovell, the state nearly topped $1 billion last December, falling just short at $996.3 million, but that surge gave New Jersey a total of $6 billion in bets placed in 2020, surpassing the previous record year of $5.4 billion in Nevada in 2019.
The state has already taken in $7.14 billion this year, adding to its own record total.
Follow Lou DiPietro on Twitter: @LouDiPietroWFAN
Follow WFAN on Social Media
Twitter | Facebook | Instagram | YouTube | Twitch