Despite the COVID-19 pandemic forcing the shut down of professional sports for quite some time, sports betting in New Jersey was able to survive. When sports did return, people were still stuck inside and sports betting saw a tremendous increase. While NJ’s market has seen steady growth since its launch in June 2018, in 2020 New Jersey surpassed all other states including Nevada for the highest sports betting handle or total amount wagered. For the year, bettors in New Jersey wagered about six billion dollars. The biggest month thus far was December 2020.
Sports betting saw a nice bounce back with the return of the NCAA Tournament. According to the NJ Division of Gaming Enforcement betters put most of their money on basketball games, both professional and college. Being one of the first states to allow mobile betting has benefitted the Garden State. In the first three months of 2021, bettors have placed over $2.5 billion in wagers in New Jersey. With most casinos in the country closed, states that allowed mobile betting saw a significant boost. Both FanDuel and Draft Kings have set up sportsbook locations within the Garden State, including in Atlantic City and the Meadowlands where both the Giants and Jets play. With businesses opening back up, these locations offer betters a way to get out of the house and watch the game.
It will be interesting to watch if sports betting legalization in New York takes away from New Jersey’s revenue. New York’s sports betting is expected to be up and running before next year’s Super Bowl. New Yorkers will no longer need to drive over the bridge or hop on a train to place a bet on the big game. While New York still works out the fine details, New Jersey will likely reap the benefits.
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