New Jersey Rakes In $16.4m From Sports Bets Being Legal

July 17, 2018 by Natalie Whitehead

New Jersey campaigned hard to get sports betting legalized and those efforts are finally paying great dividends for the state.

In the first two weeks since sports betting was legalized, the state of New Jersey has generated $16.4 million in sports bets.

The grand total was gathered by only two casinos – Borgata and Ocean Resort – and one racetrack – Monmouth Park. Ocean Resort had only operated for just two days during those two weeks, but managed to contribute close to $193,000 to the total.

Monmouth Park’s gross amounted to $2.3 million, while Borgata cashed in at $986,831.

Aside from that, $1 million went to bets on the Super Bowl and World Series baseball – a long-term investment, as both sporting events are months awayand the payouts are further still.

Off To A Great Start

In a statement, CEO of William Hill America said

While it’s still early, we’re obviously off to a great start. We always knew there was a big appetite for legal sports betting during the years of litigation, and now it is being proven. We are proud to be creating new jobs in New Jersey and bringing excitement to our customers. We can’t wait until football season

William Hill operates sports books at both Monmouth Park and Borgata. The Monmouth Sports Book boasts a main sports book of 15 windows and an integrated sports bar lined with HDTVs displaying betting lines and sporting events at all times. The Ocean Resort Casino Sports Book, on the other hand, is still in development despite its substantial earnings on its first two days. The sports book will be located in the very center of the Casino’s gaming floor; 7,500 square feet, enclosed by a high-tech video wall displaying betting odds and live sporting events.

CBS New York

A Bright Future For New Jersey Gaming

Sports betting analysts in New Jersey express their excitement at the impressive numbers coming out of the casinos during these first two weeks, but also remind gaming enthusiasts that it’s still in a prototypal stage. The outlook towards this new development in New Jersey gaming is generally optimistic, thanks in large part to the initial success of sports betting.

Betting is expected to increase exponentially once all the features are in place and more casinos offer sports betting. Already, new sportsbooks are popping up. Meadowlands, another racetrack, kicked off its sports betting operations on July 14 and the Hard Rock Casino will join the market as soon as its sports betting lounge is approved.

Online sports betting is also on the horizon, with the first legal online sportsbook set to launch by the end of July before the start of the coming football season.