Murphy expressed hope that sports gambling in New Jersey could overtake Nevada as early as next yeargetty images
New Jersey Gov. Phil Murphy said that the state's "quick growth in sports gambling means it could surpass Nevada next year as the top sports betting market" in the U.S., according to Wayne Parry of the AP. In the 10 months that the state has allowed legal sports betting, gamblers have wagered more than $2.3B, a pace that would "put it in the same conversation" as Nevada, which took in more than $5B in bets last year. Speaking yesterday at the Betting on Sports America conference in Secaucus, N.J., Murphy said, “Nevada is clearly in our sights." He added, “We can overtake it as early as next year.” Parry noted the ability to place bets from a mobile device is "one reason why New Jersey has not had the same challenges meeting projections as other states offering sports betting for the first time." New Jersey also benefits from both a "lack of legal sports betting" in New York, and the fact that Pennsylvania's market is "still in its infancy" (AP, 4/24).
NOT SO FAST, MY FRIEND: ESPN.com's David Purdum reports Nevada saw $596.8M "bet at Nevada sportsbooks in March, the most ever for any month" (ESPN.com, 4/25). In Las Vegas, Richard Velotta notes the NCAA basketball tournament and the end of the NBA regular season "paced sports betting handle with a record" $495.1M in "basketball bets written." Casinos won $32.5M in sports bets, a drop of 4.8% from last year. The sports pool drop was up 14.4%, making March the first time since March '04 that "sports betting surpassed baccarat volume" (REVIEWJOURNAL.com, 4/25).
