New Jersey breaks its monthly sports betting record

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Gamblers wagered a record-breaking up to $445 million on sports in New Jersey in September, the largest monthly total in this state since legal sports wagering began in June 2018.

The release of figures came on Tuesday as the rapidly growing New Jersey sports wagering market challenges Nevada for the industry’s nationwide leadership.

These two states have toggled back in recent months in terms of who takes in more sports wagers, but Nevada still has the highest monthly totals, consisting of nearly $600 million in March, the largest monthly amount in the U.S.’s betting history.

The state Division of Gaming Enforcement reported that the New Jersey casinos and racetracks made about $38 million on their September wagers after winning bets and expenses were paid. The total amount was boosted by the return of NFL and college football, always generating heavy betting action.

The extra money came in a month where the casinos of Atlantic City saw revenue from their business of on-premises table games and slots decline by 3.2 percent, to $224.5 million.

However, the sports wagering revenue, as well as another record-setting month for online gambling, helped the casinos to an overall revenue increase of 4.1 percent, at $283.2 million.

When sports wagering money from the Monmouth Park and Meadowlands is included, the state’s gambling industry won more than $303 million.

In general, the news was mixed for the nine casinos of Atlantic City in September; meanwhile, they collectively posted a 4.1 percent increase, six of them saw their individual monthly gambling revenue decline.

Over the first 9 months of this year, sports wagering has generated $190.6 million in revenue for the casinos and tracks, as being compared with just more than $40 million in the same period of last year, when sports wagering was still in its infancy in the state of New Jersey.

It has generated just more than $23 million in state taxes for the first 9 months of the year.

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