Record-setting $748 Million Bet on Sports Last Month in New Jersey
If you think sports betting is just a passing fad, it's turning into a fad with lots and lots of zeroes after the dollar sign.
According to the New Jersey Division of Gaming Enforcement, the casinos in Atlantic City along with the horse tracks that accept sports bets across the Garden State handled $748.5 million in bets in September.
Yes, almost three-quarters of a billion dollars in just one month.
So far this year, New Jersey casinos and racetracks have taken in nearly $3.25 billion in sports bets.
According to the state, around $69 million in sport bets took place in-person while almost ten times that, or almost $679 million, occurred online.
The monthly report went on to say,
Based upon filings with the Division of Gaming Enforcement, Total Gaming Revenue for September was $323.3 million compared to $303.5 million in September 2019, reflecting a 6.5% increase. Internet Gaming Win was $87.6 million in September compared to $41.1 million in the prior period, reflecting an increase of 113.0%. Sports Wagering Gross Revenue was $45.1 million for the month. Casino Win for September was $190.6 million, decreasing 15.1% from the same month last year. During September, the casinos operated with certain restrictions due to COVID-19.
In terms of traditional gaming, Ocean Casino Resort showed the largest percentage increase at 22 percent. CEO Terry Glebocki told NJ.com that was due to several factors. She said, "The combination of Labor Day weekend and the return of indoor dining, limited to 25%, afforded us the opportunity in September to continue the momentum created here at Ocean."