NJ set to lose its spot as top sports betting dog

New Jersey is expected to lose its short-lived reign as the top state for sports betting now that mobile sports betting is up and running across the Hudson River.

For three consecutive months beginning in September, New Jersey sports bettors wagered more than $1 billion at three racetracks and nine Atlantic City casinos (December numbers to be released Friday). But experts predict that much of the New Jersey handful will disappear when reports begin to factor in the activity occurring this month.

Four companies were given the go-ahead to accept mobile betting in New York on January 8, with more companies expected to get the same approval over the next month.

“A lot of New Yorkers used to drive through New Jersey just to place their sports bets, and now they don’t have to,” said Roger Gros, publisher of Global Gaming Company magazine.

Must be played within the boundaries of a state where their application is legal.

Early reports suggest betting volume was high in the early days of mobile sports betting in New York, Gros added.

“It doesn’t bode well for New Jersey at this point,” he said, suggesting New Jersey’s handful could drop 20%.

Due to its population, New York is expected to rise to the top in terms of sports betting volume. New Jersey has had the highest sports betting volume in the country in recent months.

It is estimated that between 20% and 40% of New Jersey sports bets in 2021 came from New York residents, according to industry analyst Anthony Marino of Atlantic County. Most of these bets were made at Freehold, Oceanport and East Rutherford racecourses.

“There will be an immediate impact on New Jersey sports betting revenue,” Marino said. “And that will be the first concrete message to policy makers here in the state of New Jersey that they’re going to start losing a lot of revenue that they just assumed would go on forever.”

The Empire State taxes sports betting at a much higher rate than New Jersey, but at this point there is no evidence that New York bettors get worse odds than New Jersey players.

Gros suggested that the apps could be more aggressive — through incentives, for example — with players in New Jersey because they would make more money on their bets compared to the bets of people playing in New York.

Contact reporter Dino Flammia at [email protected]

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