Sports betting soars to $95M in New Jersey in August

September 12, 2018 Associated Press

By Wayne Parry

Sports betting is a second-inning home run in New Jersey, where gamblers plunked down more than $95 million on sporting events in August, helping Atlantic City's casinos to one of their biggest monthly revenue increases in three decades. The $95.6 million wagered on sports in August was more than twice as much as the amount bet in July as New Jersey's sports betting market is soaring.

Nearly $74 million was wagered at on-site betting windows, and $21.7 million was bet on sports via online or mobile phone apps, a market segment that is expected to become the dominant player in the industry as more and more companies gain approval from New Jersey regulators to offer online sports betting. The surge comes as more companies race to join the burgeoning market, which became possible when New Jersey won a U.S. Supreme Court case in May clearing the way for all 50 states to offer sports betting should they so choose.