New Jersey sportsbooks beat Nevada’s in January

For the first time ever, Nevada sportsbooks didn’t lead revenue in the sports betting segment as New Jersey continues to thrive.

US.- The sports betting industry continues to expand in the US and New Jersey has taken the lead of the revamped market. The state has had such a great start since PASPA got revoked, that it has dethroned Nevada sportsbooks in January for the first time ever.

According to the Nevada Gaming Control Board (NGCB), state’s sportsbooks raked US$14.6 million in revenue during the first month of 2019, down 3% year-on-year. It is the first time in history they didn’t top the US market, as New Jersey took US$385 million in bets, winning US$18.8 million of them.

Nevada sportsbooks’ total handle beat a monthly record as it reached US$497 million gambled on different sporting events. However, its 2.9% hold rate (down from 7.8% in December and below the 4.8% average rate) had it falling behind the Garden State in January.

Gaming fell overall in the state during January as the casino industry won less than US$1 billion from gamblers, 3% less than the same month in 2018, when they raked US$1.01 billion.

In New Jersey, the DGE revealed that of the total gaming revenue collected in January, US$177.3 million was generated from casino win, which represents a 9% increase, and internet gaming win also experienced great results as it grew 53% to US$33.6 million.