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  • Fri. Mar 1st, 2024

New Jersey and Sports Betting

BySara

Aug 22, 2019
Sports betting

At 10:33 a.m. June 14, 2018, the first bets were made in New Jersey. Hours later, the state’s sports betting bazaar was off and running. And the market continues to grow. The state is now a forerunner for US sports betting. Thanks to its betting platforms that ensure you can bet on sports in New Jersey, both in-person and on the internet.

For years, the argument for validating sports wagering was that it would be a shot of adrenaline for the failing horse racing tracks and casinos. As well, a new source of revenue that would also draw a steadier, year-round gathering to venues that struggled to eke out a living; primarily on summer surges.

Sports betting

Now, the home of Atlantic City is the epicenter for the future of legitimate sports betting in the country. Oh, don’t believe? New Jersey took in sports wagers in May 2019 more than Nevada did. The East Coast state took in bets worth $318.9 million edging over Nevada’s $317.4 million, gambling officials in both states indicate.

Since the first bets were cast, the state has seen over $3 billion wagered. As racing and casino industries continue to face significant challenges, proprietors of 2 biggest horse tracks in NJ tribute sports betting with elating their fortunes.

“Honestly, I am dazed at how well we have done,” Jeff Gural of Meadowlands Racetrack expressed after netting about $58 million in sports betting revenue. “It’s not unusual to have someone wager $100,000 on a game, and that’s more of a surprise to me,” Gural further expressed.

Powered by wagering on mobile devices and New Yorkers swarming across the border to place bets, NJ keeps notching milestones and rising quickly in the flourishing sports betting industry. During the football season, of the most recent fall and winter, several gamblers journeyed the PATH from Manhattan to the Hoboken station to place a bet before boarding the next train back to NY.

And in June, internet gambling rose to more than $38 million, up 68% from 2018. In June alone, New Jersey’s racetracks and casinos handled in bets worth $ 278 million!

Most New Jersey betting apps and sites give first-time players either risk-free, free bets, or deposit bonuses. Note that a free bet is often a gift for merely signing up at the state’s sportsbook and needs no deposit. On the other side, a deposit bonus or a risk-free bet involves bettors placing a deposit or a bet into their sports betting account.

In Atlantic City, the effect of sports wagering is mixed. Several casinos saw a drop in revenue in the year from the time when sports betting was made legal. But is chiefly associated with 2 new casinos—Ocean Resorts and the Hard Rock. Even so, sports betting has been of assistance in increasing the number of visitors the city receives, NJ officials acknowledge.

No one knows how long the East Coast state will maintain the sports betting crest. All there is now, NJ can count on its huge sports betting fan bases in Philly and New York which can power it through near future sports betting doldrums.

By Sara

My name is Sara Anslee, I live in Colorado. I am very fond of gaming, writing, and blogging. I share the latest news and tips about sports games, video games, gaming movies, gaming devices, and accessories. I also love watching movies and traveling.