How much do New Jersey residents like to bet on sports?
About six hundred million dollars was wagered in the Garden State in the first four and a half months of legalized sports betting here, according to a report by the Associated Press.
That pace of betting is likely only to increase as the state’s sports betting industry hits its stride, industry insiders tell the news service.
It’s not surprising that football and baseball accounted for most of October’s bets, as residents picked and bet on favorites in the playoffs and World Series.
FanDuel, which operates the sports book at the Meadowlands Racetrack in East Rutherford, said the company saw bets increase more than two a half times over the previous month, the AP reports.
New Jersey’s casinos and racetracks have brought $52 million in revenue from sports bets, although that money also includes bets on such future events as the Super Bowl, which might require payouts.
Quote of the Day: “The numbers continue to be impressive,” — Joe Asher, CEO of bookmaker William Hill US, on New Jersey sports betting.
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