September was a record-breaking month for sports betting figures in New Jersey, as the industry continues to grow rapidly.
Since New Jersey sports betting became legal in June 2018, the market has grown considerably. Gamblers have continued to spend big and sportsbooks have continued to invest. On Tuesday, it was reported that sports bettors had wagered a record-breaking $445 million in New Jersey throughout the month of September. Of this $445 million, approximately $375 million was generated from online sports betting alone, beating the previous record of $298.3 million from March.
The return of NFL and college football last month contributed significantly to online sports betting figures. Sportsbooks have moved with the trend, with 17 mobile apps available to bet on in New Jersey compared to just eight this time last year.
New Jersey now challenges globally-renowned gambling state Nevada for nationwide leadership of the industry. Nevada still takes in more money than New Jersey, but figures are extremely close. It is estimated that New Jersey’s gambling industry is currently worth over $300 million.
Since the start of 2019, sports betting has generated $190.6 million in revenue for the state’s casinos and tracks, compared to around $40 million in the same 9-month period last year. This puts into perspective the progress New Jersey has made in such a short space of time.
New Jersey sports betting is on the rise, and we are excited to see just how big it becomes.
