New Jersey sports betting tops Nevada
For the first time ever, New Jersey sports betting during May recorded more money bet at sportsbooks than Nevada did over the same period of time.
US.- The sports betting segment is growing fast and results are already on sight. During May, and for the first time ever, New Jersey sports betting posted more money bet than Nevada did.
According to recently released figures by state regulators, sportsbooks took US$318.9 million from New Jersey’s sports betting. That beat Nevada by over US$1 million, as it only reached US$317.4 million over the same period.
“We all knew it would be successful,” Governor Phil Murphy stated. “However, I don’t think anyone expected how quickly New Jersey would come to dominate the growth in the market. Or how advantageously New Jersey would be positioned to dominate the entire marketplace,” he added.
Danger ahead for the segment
The state is facing a potential government shutdown as no budget has been agreed upon yet. However, Gov. Murphy denied such a possibility, as quoted by NJ.com.
“I have very strong feelings about some of the Legislature’s wrong choices in our next budget and I will continue to press our case for smart investments and tax fairness,” Murphy said at a Secaucus news conference.
“I feel just as strongly that going into our July 4 holiday I cannot and I will not subject our residents to the inconveniences they would suffer under a government shutdown.” He assured that, by the Sunday midnight deadline, he will sign the budget.
Detailed sports betting growth in Atlantic City
The New Jersey Division of Gaming Enforcement (DGE) reported earlier this month that casino gaming revenue posted a 22% increase in May. These results mark the 12th consecutive month of growth in the casino market in the city.
The nine casinos in the gambling hub from New Jersey reported US$266.7 million in total gaming revenue in May, representing a 22.5% increase over the same month last year. The gaming revenue from Atlantic City has been increasing month-over-month since June 2018.
June 2018 also had the opening of Hard Rock Hotel & Casino Atlantic City and Ocean Resort as a major event. Furthermore, the state started its legalised sports betting operations in June 2018.
