New Jersey Sports betting is All Set to Explode in Upcoming Months

Rich Migliorisi, Last Updated: July 12th, 2019 New Jersey Online Casinos 2020
New Jersey Sports betting is All Set to Explode in Upcoming Months

NJ Online Sports Betting will be huge for New Yorkers

New Jersey Sports Betting may be brand new, but the sky is the limit if initial financial indications are anything to go by.

New Jersey Division of Gaming Enforcement announced that over a collective operating period of just 37 days in June, Monmouth Park, Borgata Casino and Ocean Resort Casino banked $16 million in sports bets. For the state of NJ, this represents a handsome little sum of $3.5 million in tax revenue for the period 14 to 30 June.

Predictions are that NJ sports betting online will explode in forthcoming months as the market continues expanding and neighboring states fail to get their legislation in place to permit local sports-betting in their jurisdiction.

An example of this is New York, who is yet to get their ducks in a row in spite of having the highest number of potential sports bettors. New York residents will now have to travel to Meadowlands to make NFL bets this football season; however, with mobile potentially being available, they could simply cross the border to place wagers and be home in next to no time.

Most of the online casinos in New Jersey have made clear plans to launch sports betting online, however, we have still not heard whether or not Hard Rock online casino plans to make betting available before the 2018 NFL season

Sports Betting Online in PA Coming Soon

Pennsylvania and Philadelphia likewise may gift New Jersey with sports betting tourists.

Although Pennsylvania has legalized sports-betting, it’s rolling out at an agonizingly slow pace due to high license fees and taxes set at a punishingly high 36%, which could even see it fail before it gets out the gate. Should PA sportsbooks not be launched in time for the NFL season, New Jersey could be the unintended beneficiary of plenty more investment.

The moratorium on online sports wagering came to an end on July 10th, and more online sports-wagering license applications are being received proving that the market should be expanding dramatically in next to no time if all applications are successful.

Locally, Monmouth Park and Meadowlands are offering sports-betting, but it’s unknown whether the third racetrack in the state, Freehold Raceway intends entering the arena.

What we do know is that at least four more AC casinos intend offering sports betting – these being Golden Nugget, Bally’s, Resorts and Hard Rock AC. Meanwhile, Tropicana and Harrah’s intentions are not clear, with Caesar’s stepping aside in favor of their associated business Bally’s right next door.

To summarize, more license holders means more competition in the sports betting market; and this, in turn, will create an environment with more promotions, more aggressive marketing and rapidly increasing awareness. The future looks assured!

Profile Pic.
About Rich Migliorisi

Rich is the Managing Editor at BonusSeeker.com. He started his career as a video editor and poker player but decided to also pursue sports writing. In 2013, Rich was nominated by the Fantasy Sports Writers Association for Fantasy Baseball Writer of the Year. He worked at MLB Advanced Media as a Senior Site Manager for MLB.com and NHL.com before joining BonusSeeker.

MLB, NHL, The Fantasy Fix, Video Editor, Poker Player

Latest News
2020 Charles Schwab Challenge Picks - PGA Tour Predictions

The PGA Tour is coming back after a three-month absence and...

SPORTS PICKS AND PREDICTIONS
Woodley Vs Burns Predictions - UFC Fight Night on ESPN 9

The steady flow of UFC events continues this weekend while s...

SPORTS PICKS AND PREDICTIONS
New York Sports Betting | Can Mobile Gambling Rebuild NY Economy?

When the state of New York was facing a budget hole eclipsin...

GAMBLING INDUSTRY UPDATES
Featured In
Business Insider
MarketWatch
Reuters
Yahoo! Finance
BonusSeeker.com and all content herein is intended for audiences 21 and older. BonusSeeker.com publishes news, information, and reviews about regulated online gambling operators, including, but not limited to casino, lottery, poker, and sports betting. You may see paid advertisements for online casinos, poker sites, and sportsbooks (including DraftKings, FanDuel, and others). You must be 21 years or older, and a US citizen to register at gambling sites in New Jersey, Pennsylvania, and other states. The information provided on BonusSeeker.com does not constitute advice, and we reserve that there is no way improve your chances of winning in online gambling. Always gamble responsibly. If you should require any advice for gambling-related problems, please call 1-800-GAMBLER.

© Copyright 2020 - All Rights Reserved. Privacy Policy - XML Sitemap. Catena Media US, Inc. 251 Little Falls Drive Wilmington, DE 19808