New Jersey is somewhat a model used in terms of looking at how much sports betting expanded in a state, and is a popular topic seen across gambling industry news sites. Since the repeal of the 1992 law by the Supreme Court mid-year, New Jersey was one of the first to improve and regulate sports betting operations in addition to their casinos.
And the numbers are great. October’s handle is higher than around 40% on a month-by-month basis at around $260 million. Since mid-June, when sports betting was first allowed, the total is now up at $597.4 million. Looking at the milestone of breaking the $500 million mark, New Jersey is only heating up. You can become an online bookie to be part of this multi-million, growing industry. August was the first month of online betting, and the wagers were at $96 million. During September, the wagers were at $184 million. Online betting was higher by 67% at $174.4 million. On-site betting, meanwhile is at $86 million. The revenue for sports betting is just about half though, with just $11.7 million for October. Last September, it was around $24 million. The total Gaming revenue for the month of October is at $239.1, which was 16% higher compared to last year’s $206.1 million. Meanwhile, Casino wins for the month of October is at $200.6, showing an 8% increase from October of 2017. As for internet gaming, October’s numbers are at $26.8 million, registering a 30% increase compared to October of last year at $20.6 million. As for the year-to-date numbers, total gaming revenue is at $2.4 billion for 2018. Comparing it to last year, there is a 6% increase from $2.2 billion. Casino wins are at $2.1 billion, showing a 2.5% jump compared to last year. Internet gaming is showing a 19% increase at $242.7 million for this year. As for Sports betting, the revenue is at $52 million since June 24 of this year.
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