New Jersey continues to outpace the market in sports gambling
By Bob Garcia
The Garden State is getting a huge boost from legalized sports gambling
New Jersey is one of the main reasons states now have legal grounds to launch their own sports gambling markets. It helped convince the Supreme Court to overturn PASPA (the Professional and Amateur Sports Protection Act of 1992) in 2018, and the number of states willing to embrace sportsbooks continues to rise. New Jersey is outpacing all of them – even Nevada – and is setting records with its sports gambling handle that no one else has been able to touch.
In October, New Jersey’s sports gambling revenue came in at a record-setting $803 million. That was about $55 million more than in September and $146 million more than August. The highest amount ever taken prior to this was $614 million, which Nevada raked in last November. At the rate it’s going, though, New Jersey is going to take over as the all-time leading state for sports gambling very soon.
It’s already close to reaching that goal. Year to date, New Jersey has collected over $4 billion in sports wagers. Since the Garden State was smart enough to legalize online wagers, this has given it a huge boost in revenue and New Jersey’s sports gambling operations have been able to continue to push forward, even as the country is dealing with the continued threat from COVID-19.
New Jersey is also considering a measure that would allow wagers to be placed on college games. The NCAA is fighting to prevent it, but it hasn’t had a lot of luck when it comes to keeping sports gambling suppressed. The organization was involved in the passing of PASPA by lawmakers and tried to prevent its death in 2018, which was unsuccessful. It has also tried to prevent college students from being able to profit from their names, identity and likenesses, which it has failed to prevent.