New Jersey sets nationwide sports betting record at $668M in August
The previous record was set in November 2019 by Nevada, with $614 million
Sports gamblers in New Jersey are now officially a part of history.
The Garden State set a national record for the most money bet on sports in the month of August with almost $668 million bet on events including MLB, NBA, and NHL seasons, which were all on hold due to the coronavirus pandemic.
The previous record was set in November 2019 by Nevada, with $614 million.
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New Jersey’s casinos and two racetracks that offer sports betting benefited from the August surge especially after they lost millions of dollars over the past few months because of the pandemic, but the state Division of Gaming Enforcement shows that the casinos and tracks won $326.3 million from gamblers in August.
“Recovery is underway, even with continuing travel advisories that decreased visits from out of state,” said James Plousis, chairman of the New Jersey Casino Control Commission. “Atlantic City’s casino win was almost 70 percent of last August’s strong performance, although the months are not reasonably comparable because of restrictions on capacity, amenities, and entertainment.”
Not only did New Jersey’s numbers surpass Nevada’s previous high, but the previous New Jersey record of $562 million set in November 2019 was also exceeded with this astonishing amount wagered in August.
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Casinos and tracks reported $39.5 million in revenue, and Internet gambling brought in $87.7 million, more than twice what it had a year earlier.
Only two casinos, Ocean Resort and the Golden Nugget, managed to post year-over-year revenue increases. Ocean was up 3.7% to $26.6 million, and Golden Nugget was up 2.5% to $37 million.
“Our year-over-year gaming revenue increase is a testament to the momentum Ocean created prior to the closure, which immediately resumed upon reopening in July," Terry Glebocki, Ocean's CEO, said in a statement. "We are pleased with our August performance despite a less favorable calendar, ongoing restrictions on occupancy, and the lack of indoor dining until early September.”
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Two Internet-only entities did well in August. Resorts Digital was up over 97%, to $27.9 million, and Caesars Interactive NJ was up almost 87%, to $9.2 million.
Among racetracks, the Meadowlands in East Rutherford, just outside New York City, took in $21.1 million in sports betting revenue compared with $11.8 million a year earlier, and Monmouth Park in Oceanport, near the Jersey Shore, took in $1.8 million compared to $2 million a year earlier.