New Jersey has been at the forefront of sports betting expansion since new laws came in permitting each state to legalize and regulate the industry. Recently, New Jersey passed a huge milestone in its journey. In May 2019, the state took more wagers in sports bets than Nevada.

New Jersey has been at the forefront of sports betting expansion since new laws came in permitting each state to legalize and regulate the industry. Recently, New Jersey passed a huge milestone in its journey. In May 2019, the state took more wagers in sports bets than Nevada.

New Jersey Leading Way For Nationwide Sports Betting

New Jersey has quite literally led the way when it comes to sports betting on a nationwide level. The state took their case for legalized sports betting to the Supreme Court and shockingly, won the case. The landmark victory overturned the federal prohibition, and the courts left it up to each individual state to decide whether they would legalize and regulate sports betting within their borders.

This was certainly welcome news for New Jersey, as well as a handful of other states that were quick off the mark. Racetracks and casinos in Atlantic City opened up physical betting windows within their walls within days of the law coming into effect.

There are now at least 10 sportsbooks which have taken over $3 billion in wagers, and the number is growing rapidly. The latest to open windows are the Borgata and Bally’s Casinos.

More Revenue Than Nevada In May

It’s now been over a year since the landmark case, and New Jersey is legitimately competing with Las Vegas in terms of sports betting wagers.

According to recently published figures by Nevada’s State Gaming Control Board, Nevada pulled in $317.4 million in bets in May, whereas New Jersey took $318.9 million in bets, $1.5 million more. It’s the first time ever that any state has surpassed Nevada in sports betting wagers in a single month.

In the 12 months since legalization, New Jersey has taken more than $2.9 billion in sports wagers, amounting to $200 million in revenue. The overall impact on casinos and racetracks is unclear. Individual casino revenue has fallen in the past 12 months, but this is probably due to dilution from two new major casinos opening in Atlantic City.

Sports betting reportedly attracts more visitors to New Jersey, many from neighboring states such as New York, where sports betting is not yet legal.

Mobile Sports Betting Most Popular

Despite the growth in casino and racetrack bookies, the real heart of the industry is mobile sports betting, which accounts for the vast majority of the industry wagers and revenues.

Approximately 80% of the sports wagers in New Jersey are made using mobile apps. This trend is set to continue, as more casinos and companies get on board with online and mobile betting. Coming this fall is the major app Fox Bet, a collaboration between gaming and media partners that should further popularise sports betting. Mobile sports betting is expected to account for 90% of wagers in New Jersey in the next 5 to 10 years.

Mobile betting makes it very easy for locals and tourists alike to make bets. The law states that people who are betting have to be physically within the state to place a bet. For New Yorkers, this can mean crossing the Hudson River for long enough to get mobile reception.

Future Of Nevada Sports Betting Bright

Far from being bad news for Nevada, the nationwide lifting of the prohibition on sports betting is set to increase the sports betting industry as a whole, and act as a catalyst for growth. Vegas has a rich history of gaming, with the first license granted way back in 1931. In other words, it’s not going anywhere.

The new rules around sports betting simply allow casinos can expand their offering, especially when it comes to mobile sports betting apps. The legalization of sports betting should bring it out of the shadows and into the mainstream.

Actually, sports betting represents a very small piece of the Vegas gaming pie anyway, as little as 1% in the past. This figure has risen to over 2%, showing that the industry is growing here. Nevada took $5 billion in sports wagers in 2018, a record high for the state.

In reality, it will be difficult for New Jersey to maintain the lead that it enjoyed in May. At the moment, the state benefits from outside custom, but as states like Philadelphia and eventually New York begin to offer sports betting options, that custom will disperse. For now, all states with legalized sports betting are likely to enjoy a period of growth.