Legal sports betting garners 40.7M in first full month

Daniel J. Munoz//August 14, 2018

New Jersey sports books took in $40.7 million in July, the first full month of legalized wagering in the state, according to newly released data.The New Jersey Division of Gaming Enforcement on Tuesday released the second round of revenue reporting, offering a more in-depth glimpse at how much the state can expect to add its coffers thanks to the newly legalized industry.

July’s numbers mark a dramatic shift from the initial two-week period of legal sports betting, between June 14 and 30, during which sports betting was only offered at Monmouth Park Racetrack in Oceanport and Borgata Hotel Casino & Spa and Ocean Resort Casino in Atlantic City. In that period, sports betting generated over $16 million in wagers, $3.5 million in revenue and $294,000 in taxes for New Jersey.

But since then, New Jersey saw the introduction of in-person sports betting at Bally’s and the Meadowlands Racetrack.

A venture for online and mobile sports betting between Resorts Casino Hotel and DraftKings went live on Aug. 6.