New Jersey had the nation’s second-largest sports gambling handle in 2018, with its $1.2 billion ranking only behind Nevada.
Sports betting contributed about 10% of the total tax income New Jersey received from wagering, making the decision to legalize sports gambling in June of 2018 as close to a sure thing as possible. Key takeaways from Garden State sports wagering can be seen in the infographic below.
While January’s sports wagering handle was less than November and December, it remained a strong figure. This is particularly true given it did not benefit from any regular season NFL games. Basketball took center court in the sports gambling world in the first month of 2019, with a handle of $135,581,120. Online sports betting dominated over in-person, as the handle for electronic bets was $304,973,986 vs. 80,305,676 for physical bets placed in sports books in the Garden State during January.
Sports betting – both online and in-person – will continue to generate considerable tax revenue for New Jersey this year. Given that state residents and visitors will be able to wager throughout 2019, and betting trends elevating, the Garden State can expect billions of dollars in handle for this year.