Nearly $600M bet on sports in New Jersey in 4 ½ months
ATLANTIC CITY, N.J. (AP) — New Jersey’s red-hot sports betting market blew past the half-billion dollar mark in October, with nearly $600 million worth of bets having been made in just 4 ½ months.
Figures released Thursday by the state Division of Gaming Enforcement show gamblers wagered $260 million on sports in October, bringing the total to $597 million since mid-June.
Those figures, plus revenue from two newly reopened casinos, helped Atlantic City’s casino industry post an increase of nearly 16 percent in gambling revenue compared with a year ago, at $239 million.
Football and baseball, with the playoffs and World Series, accounted for most of October’s bets.
New Jersey won a U.S. Supreme Court case in May clearing the way for all 50 states to offer legal sports betting; so far, five do.