New Jersey Leads The Sports Betting Race
The old adage rings true: the more things change, the more they stay the same. New Jersey is fast establishing itself as the overall winner in the US sports betting race after having yet again out-performed close rival Nevada during the month of July.
With all handle reports for July officially in, the Garden State leads the US nation in terms of total revenue handle for sports betting. July is the second month this year that sees New Jersey pipping rival state Nevada to the post. New Jersey did the same in May when it topped Nevada’s $317.4 million handle by posting a slightly higher $318.9 million handle of its own. Nevada performed a recovery stunt on the leaderboard in June but moves back down into second place following the release of the latest results.
Considering The Advantages
But whether or not the Garden state will continue to outperform its main rival remains to be seen. Financial analysts reporting to the New York Times are of the opinion that it quite likely will, but then again, bet-markets do have a want of toppling the projection apple carts.
Even so, New Jersey does enjoy two significant advantages over rival Nevada. New Jersey is a bigger player in terms of population numbers. Its population is estimated to total about 9 million in number, as opposed to Nevada’s significantly smaller 2.5 million. This makes a huge difference when talking the sheer size of player pools and revenue potential. The fact that mobile gaming is regulated and legal in the Garden state adds an additional advantage into the mix.
Mobile Leads The Way
New Jersey’s bettors enjoy the added perk of being able to log into their mobile or online devices and wager instant bets online via sports betting suppliers DraftKings and FanDuel. Nevada has not yet legalised mobile betting and so local bettors, when wanting to wager on any event or game, have no other option but to head out to a retail location offering sports betting services.
New Jersey is on a fast track to platinum sports betting success. Since having embraced a regulated sports betting industry immediately after the strike-down of PASPA a little over a year ago, the state has attracted a sweltering $2.2 billion in sports betting revenue spend. And that’s not even factoring in the upcoming NFL season.
Whether or not it continues to stick it to Nevada, New Jersey is perfectly positioned to achieve the highest pillars of revenue success.