Sports betting business continued to soar in September

By Eric Strauss
Atlantic City | Oct 15, 2018 at 1:14 pm

New Jersey’s sports betting numbers may be the only thing in the state hotter than the Devils, according to September numbers from PlayNJ.com.

Wagers at sports books grew 92.3 percent from August, while gross revenue grew 161 percent, the gaming analysis company said in a news release, putting New Jersey on pace to become the nation’s largest sports betting market.

“It is a very real possibility that New Jersey could surpass Nevada as the country’s largest sports betting market by the end of the year,” Dustin Gouker, PlayNJ.com’s lead sports betting analyst, said in a prepared statement. “Even when Pennsylvania launches sports betting, New Jersey should continue its upward swing.”

The state’s sports books generated nearly $24 million in gross revenue and nearly $184 million in wagers for the month, according to state figures. By comparison, Nevada accepted $558 million-plus in wagers in September 2017.

PlayNJ.com anticipates New Jersey books will eventually generated $500 million in annual revenue, it said.

“As more online and land-based sports books hit the market, and customers become more familiar with the products, wagering will rapidly expand,” Gouker said.

Eric Strauss | estrauss@roi-nj.com | acerimrat