Should New Jersey lessen its expectations on sports betting?
ATLANTIC CITY, N.J. (AP) — Some analysts are pumping the brakes a bit on New Jersey’s enthusiasm over how much money it might get if sports betting is legalized nationwide.
Moody’s Investors Service notes that sports betting winnings have been slim in Nevada, accounting for only 2 percent of statewide gambling winnings.
Global Market Advisers predicts that by 2023, sports betting in New Jersey would bring in roughly what internet gambling does now, around $240 million.
Atlantic City casino and government officials lament that with the nearby Philadelphia Eagles in the Super Bowl, the resort could have seen a cash bonanza fueled by fans wanting to bet on the big game.
The U.S. Supreme Court will decide by June whether to legalize sports betting nationwide in a case brought by New Jersey.