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NJ sports betting reaches nearly $600M

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The Division of Gaming Enforcement, which regulates New Jersey’s gambling and sports betting industries, on Thursday reported a drop in revenue for sportsbooks from $24 million in October to $11.7 million in October.

Still, patrons bet a record-high $260.7 million during the second month of the 2018 football season, bringing total wagers for 2018 up to $597.4 million since the state officially rolled out sports betting in June.

“It was an exciting month for bettors who won at a high rate on football and benefitted from our industry-leading pricing and odds boosts,” read a statement from the FanDuel Sportsbook, which operates at the Meadowlands Racetrack in East Rutherford.

In September, patrons bet $184 million at the state’s then-15 sports books, eight of which were on-site and the other seven online. The Tropicana Casino & Resort Atlantic City has since added an in-person sportsbook.

September’s boost in sports-betting was bolstered by the introduction of mobile and online sports betting.

There are two racetracks, Meadowlands and Monmouth Park, with operational sportsbooks.

In addition to Tropicana, six other Atlantic City casinos accept bets: Bally’s Atlantic City, The Borgata Hotel Casino & Spa, Golden Nugget Atlantic City, Harrah's Resort Atlantic City, Resorts Casino Hotel and Ocean Resort Casino.

The first online and mobile sportsbook opened Aug. 1 through a partnership between Resorts Casino Hotel and DraftKings.

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Daniel J. Munoz

Daniel J. Munoz

Daniel Munoz covers politics and state government for NJBIZ. You can contact him at dmunoz@njbiz.com.

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