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New Jersey’s Sports Betting Soars High in August

August was another great month for sports betting in New Jersey. In fact, sports betting in the state has helped Atlantic city’s casinos to record one of their best monthly increases in revenues in the last 30 years. Of course, the potential for sportsbooks to earn from sports betting is only increasing, especially if you are using a great PPH Sportsbook.

Wagers on sports for August is at $95.6 million, which is twice as much as the numbers for July. This is great news, considering that August is a slow month in the sports betting industry. And the numbers for July are high also because of the FIFA World Cup. With the popular major sporting leagues in the offseason, the market is truly bullish.

New Jersey’s Sports Betting Figures

On-site sports betting collected around $74 million, with $21.7 million worth of wagers made via mobile and phone apps. And since there are a lot of sportsbook operators who are applying for online or mobile operations. The revenues from mobile wagers is expected to climb further.

All of these has contributed to boost the casino revenues for Atlantic City to almost $304 million. This is a whopping 24% increase from last year’s numbers in August. As for online gambling, there are $24.8 million worth of revenues for August. This is 17% higher than last year’s numbers in August.

“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,” David Rebuck, director of the New Jersey Division of Gaming Enforcement, said. “It is an exciting time for Atlantic City and we look forward to continued revenue growth going forward.”

The numbers are, of course, not the net revenues for operators, since a percentage of the revenues are comprised of futures bets for events like the World Series for Baseball, and the Super Bowl for Football.

 

 

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