NJ sees $251M in July sports bets, lowest so far this year
ATLANTIC CITY, N.J. (AP) — New Jersey’s sports betting market slowed again in July, taking in $251.3 million in bets, the lowest total so far this year.
Figures released Wednesday by state regulators show the state’s casinos and racetracks made $17.8 million in sports betting revenue in July. So far this year, they have made $127.5 million.
July’s betting market was primarily baseball, which does not tend to attract as much action as football.
And other states continued to expand their sports betting offerings, particularly online in neighboring Pennsylvania.
The Meadowlands Racetrack in east Rutherford, just outside New York City, continued to dominate the state’s sports betting market so far this year with nearly $67 million in revenue — more than half of all sports betting revenue in the state. In July, it made over $9 million in sports betting revenue, more than twice its nearest competitor in New Jersey, Resorts Digital, which made $3.7 million.
Monmouth Park in Oceanport, near the Jersey shore, made just under $2 million in revenue in July, and has made $12.5 million so far this year.
The figures also show how online and mobile betting have quickly dominated the fledgling industry. Of the $251.3 million worth of sports bets made in New Jersey in July, only $38.3 million was wagered in person at a casino or horse track sports book.
The issue of whether to allow online and mobile sports betting, and how to regulate and tax it, has slowed several states’ approval of sports betting.
New Jersey’s high point for this year came in January, when bets fueled by the NFL playoffs and Super Bowl run-up totaled $385.2 million.
The July total of $251.3 was down from the $273.2 million in total bets placed in the state in June, and that was down from the $318.9 million wagered in May.
This story has been corrected to show that the Meadowlands revenue total of nearly $67 million and the sports betting revenue total of $127.5 million for New Jersey are for the year to date, not for July.