Fuhgeddabout NY: Despite competition, NJ’s sports bets rise
When New York state started taking mobile sports bets last month, everyone assumed it would take a big chunk out of New Jersey’s nation-leading market.
And although New York instantly became the top market in the U.S. in terms of the amount bet on sports in January, it did not hurt New Jersey at all. In fact, New Jersey surpassed its best month in January, taking in $1.34 billion in bets.
That was up more than 40% from the amount New Jersey’s casinos and horse tracks handled in January 2021.
New Jersey won a U.S. Supreme Court case in 2018 clearing the way for all 50 states to offer legal sports betting; so far, 33 plus Washington D.C. currently do.