New Jersey is continuing with its sports betting momentum generating just about $3 billion in sports betting wagers, and right at $200 million in revenues for twelve months.
Just in May alone the garden state earned $318.9 million in bets. If the state keeps going, they will surpass what the state of Nevada earns on a monthly basis.
In May, New Jersey was up by 1.7% from earning more than $310 million in April. PlayNJ.com released the monthly report saying, “We knew that sports betting in New Jersey would be successful, but it is fair to say that so far it has exceeded our expectations. $3 billion in bets in 12 months is an impressive milestone by any measure, and in just a year, New Jersey is set up to become the nation’s largest legal sports betting market.”
More than $7.85 million was generated by FanDuel/PointsBet with online gross revenues across the board. It’s a win win for not only operators, but the state too. The state earned $16.5 million in tax revenues since sports betting launched in the state a year ago. Online sports betting accounted for 82.6% of the total revenues for the month of May.