New Jersey reports first two weeks of sports betting ops

Businesses around the state reported US$16 million in sports betting bets during the first two weeks of operations.

US.- The sports betting industry in the United States had to wait several years to be legal, and the final decision from the US Supreme Court to allow states to offer the modality came after a long legal battle carried out by New Jersey. Two weeks after the state officially launched its operations, New Jersey reported more than US$16 million in bets.

Figures released on Tuesday by the New Jersey Division of Gaming Enforcement (DGE) show that two casinos and a racetrack collected US$16.4 million in sports bets during the first two weeks of legal operations. 

Borgata, Ocean Resort and Monmouth Park racetrack totalled US$3.5 million in gross sports betting revenue on those bets. The three facilities are the only places that currently take legal sports bets. 

As regulators warned, the bets that involve future outcomes of sports events, like the Super Bowl, won’t be paid out for months. Of completed events, the three facilities retain 7.8 per cent of the amount wagered, approximately US$1.2 million. The report released by the DGE shows the results of sports bets placed ever since the state started its legal operations on June 14th through to the end of the month.