Sports wagering in New Jersey triumph for the second month in November, oddsmakers reported having received a collective stake of $562.6 million in the month. The total stake acquired by state operators in October was $487.9 million. Out of $562.6 million that the oddsmakers received, the state received $32.9 million, which is less than 6percent of the total hold won by the operators. Meanwhile, mobile wagering continued to dominate the NJ sports betting industry, with 86.5 percent of all wagering being done on the online platform.
According to Casino.org, sports betting wasn’t the only prosperous gaming activity in the state, nine of Atlantic City casinos also posted growth. Slots machines gross gaming revenue (GGR) grew by 5.7 percent, table gaming by 10.5 percent, while online casino gaming increased by 82.4 percent.
The total revenue generated for the state from gaming activity, which includes horse racetrack sportsbooks, added to about $306 million in November. James Plousis, the Chairman of Casino Control Commission, had this to say regarding the growth:
“All areas of the business, including slots, table games, internet wagering, and sports wagering out-performed last year, and contributed to a combined increase.”
He added that the growth was majorly due to the two casinos which reopened in 2018. According to Plousis, the seven casinos that existed before 2018 posted an increase of $30 million, which is equivalent to 14.4 percent. Plousis affirmed that there are enough opportunities for all casinos to compete favorably. NJ GGR had hit the $3 billion mark for the first time since 2012 when the Atlantic City had 12 casinos. According to Marty Small, the City Mayor, they are in the right direction to regaining the former glory.
