New Jersey Sports Betting Revenue Spikes Thanks To Start Of NFL Year
New Jersey's nascent sports betting industry reported $24M in gross revenue in September, "more than double the previous month, a surge boosted" by the opening of the NFL season, according to Andrew Maykuth of the PHILADELPHIA INQUIRER. New Jersey's sports betting operations, which launched in June, "already account" for 8.5% of the state's total gaming revenue. Total gaming revenue for September, "including casinos, internet revenue and sports betting," was $281.7M compared to $235.8M last year, a 19.5% increase. For the first nine months of this year, the industry's total revenue was $2.148B, up 5.4% "over the same period last year." In four months, bettors in New Jersey have wagered $328.3M on "completed sporting events," losing $26M, or 7.9%, to legal bookmakers. Bettors wagered almost $119M on baseball games, with bookmakers keeping 3.5% of that in gross revenue. Football games attracted $94.5M, and casinos retained 10.2% in winnings (PHILADELPHIA INQUIRER, 10/13). In Las Vegas Richard Velotta noted the expansion of sports wagering was the "hottest topic" at the Global Gaming Expo last week. Nevada Gaming Control Board Chair A.G. Burnett said of integrity fees, "It’s a money-grab disguised as something based on integrity when the gaming industry and all that we have done in Nevada regarding sports betting and regulated sports betting in this particular jurisdiction for the last 34 years has gone toward everything integrity-based" (LAS VEGAS REVIEW-JOURNAL, 10/14).