At this time last year, Eliers & Krejcik Gaming (a gambling industry research and advisory firm) projected that New Jersey would take more sports bets than Nevada by 2021. Well, it’s safe to say – the future is now!
Last year, it was a bold prediction for any state, let alone New Jersey, to overtake the center of the sports betting world. Nevada has a long, successful track record as a giant in this space, but it seems like Eliers & Krejcik underestimated the impact of mobile betting.
In August 2019, New Jersey sportsbooks raked in a total of $293.5 million, in comparison to the $288 million that Nevada did that month. What’s even more shocking is that Nevada increased its sportsbook revenues from the same period of time a year previous – about 16 percent more from 2018.
August was also the third time in four months that New Jersey finished over Nevada in total handle taken in. In May, New Jersey outgained Nevada by the score of $318.9 million to $317.7 million. In June, New Jersey won again by the score of $251 million to $235 million.
When looking at the success of New Jersey with sports betting, it’s important to note that it has the backing of New York residents that make the short trip across state borders. Not to mention, New Jersey has the aide of mobile sports betting to its numbers, which New York does not.
While New York doesn’t have mobile sports betting, it does have a handful of locations upstate. Those locations, however, are not located where the vast majority of residents are in the five boroughs. In addition, mobile betting just became legalized in neighboring Pennsylvania, and that makes New Jersey’s stay at the top even more impressive.
Nevada’s History
Nevada has always been a hallmark in the sports betting world, and they did have a huge jump start as legalized operations have been available all the way back since 1949.
Not only is Nevada the epicenter of the West and Midwest, but many different groups of people would migrate from the East over the years for the weekend. Whether groups of people went for bachelor parties or other fun activities, sports betting was always something that appealed to every generation.
Now that bettors don’t even need to leave the comfort of their own homes, it’s quite the opportunity for those on the East Coast that haven’t had this over the previous years – and they’re certainly taking advantage of it. Mobile betting has accounted for about 80 percent of the money coming in so far in The Garden State.
Also helping New Jersey’s profits is that FanDuel Sportsbook in East Rutherford, NJ, is located right next to MetLife Stadium – home of the NFL’s New York Giants and New York Jets. Every Sunday for gameday, fans who are going to the game or just tailgating outside the stadium, can head to the FanDuel Sportsbook and place their bets before beginning the day.
Perhaps, some of the other states that have legalized sports betting will use New Jersey as the blueprint for their future success.
