Sports betting increases revenues in New Jersey

Revenues from sports betting boosted New Jersey's finances. Credits: Sports Illustrated

The wagers placed on sports in August were more than twice as much as the number bet in July.

US.- According to official numbers released this week, gamblers totalled US$95.6 million on bets placed on sporting events during August operations. The number is more than twice as much as the one from July.

Of the US$95.6 million registered during last month operations, US$74 million was wagered at on-site betting windows, while US$21.7 million were through online sites or mobile phone apps. The online segment is expected to win more traction in the coming months as more companies are applying to get a licence to be able to offer their services in the states, one of the few that can legally offer iGaming.

The numbers show that casino revenue was boosted by sports betting and helped Atlantic City reach the US$304 million mark, an increase of more than 24% from the same period in 2017.

David Rebuck, director of the New Jersey Division of Gaming Enforcement (DGE), said: “With the new casinos that opened in June and the addition of sports wagering options, including online alternatives, the gaming industry has experienced growth rates in July and August that have not been achieved in years. It is an exciting time for Atlantic City and we look forward to continued revenue growth going forward.”

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