Gamblers wagered more than $445 million on sporting events with New Jersey betting sites, making September 2019 the largest single month for bets since sports betting became legal. It also pushed the lifetime betting total to $4 billion.
The monthly totals were released by the New Jersey Division of Gaming Enforcement on Oct. 15. The $445 billion wagered translated into $38 million in revenue for Atlantic City casinos and Monmouth Park and the Meadowlands horse racing tracks. That brings the total revenue for the year up to $190 million.
According to the online gambling information website PlayNJ.com, the total is the largest amount bet on sporting events in one month since sports betting began in June 2018. Most of it was wagered online.
“New Jersey more than doubled its handle from September 2018, which is staggering growth,” said Dustin Gouker, lead analyst at PlayNJ.com. “After such an impressive debut, the question now becomes how much room is there to grow? The upward trajectory will continue, it is just a matter of how steep the growth will be.”
While September’s wagering beat the state’s previous record of $385 million set in January, New Jersey is still likely to be shy of Nevada’s total, PlayNJ.com said. The recognized leaders in sports betting, Nevada companies generated $571 million in bets in September 2018. Nevertheless, New Jersey is challenging Nevada’s sports betting supremacy; for the past two months, New Jersey posted the country’s largest handle.
In the broader gaming industry, New Jersey revenues for the year were up by $337 million through the same period in 2018, with revenues from casinos, online gaming and sports betting totaling more than $2.5 billion.
Total casino wins topped $2 billion year to date, although September’s monthly revenues were actually down $7 million from September 2018. Internet gaming and sports betting more than made up for the shortfall, however. Internet gaming brought in $41 million in September and $339 million YTD, compared to $26 million and $216 million in 2018. The casino portion of sports betting (excluding the racetracks) brought in $77 million.
New Jersey instituted legalized sports betting more than a year ago after a long legal battle that went all the way to the U.S. Supreme Court.