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New Jersey is Becoming Sports Betting Leader In America

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Nevada has been a long-time leader in sports betting and casino gaming, but now things are changing. New Jersey is rising and even surpassing Nevada in terms of revenue collection. A good example is the month of August 2019; NJ collected more tax than Nevada.
Nevada collected 22.1 percent in sports wagers which totaled to $287.8 million. New Jersey led the way in sports handle in August with $293.6 million surpassing Nevada by $18.7 million. This is the lowest that Nevada has generated since April, although it has led to a 4.3 percent yearly increase in which a total of $11.78 billion has been wagered.

Baseball has been the main source of revenue in Nevada accounting to $8.6 million of state betting. College football and NFL has also increased betting activities, in which a total of $72.3 million was put on stakes. Out of this, New Jersey posted a $12.7 million in football compared to $6.7 million in baseball.

This is the third time NJ has outshined Nevada, the first came in May while the second was in June. Though the difference is slight, NJ is leading the sports betting. The success can be due to NJ openness in online sports betting in which signing is done remotely. This has led to most of the betting taking place in online space. In NJ, 80 percent of the sports betting take place online compared to Nevada where online betting is around 50-60 percent.

Source: https://www.gamblingnews.com/news/nevada-beats-nj-sports-and-gaming-revenue/

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Isaac Munga

Isaac Munga

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