New Jersey’s Betting Numbers After First Two Weeks
July 12, 2018
New Jersey was one of the first states to start offering sports betting as an option shortly after SCOTUS struck down the anti-sports betting rule known as PAPSA. The numbers from those first few weeks have been released to the public. As expected, the numbers aren’t mind boggling.
They report that they have taken in $16.4 million dollars in bets during that time. They also report that betting has resulted in $3.5 million dollars in “revenue”. However, we must point out that that number is dubious in that they have included in that figure all ‘future’ bets. The future bets have not been graded yet because they are not finalized. Therefore the net profit for New Jersey sports betting is just $1.2 million.
Most of the action has been on daily baseball games. In the sports betting business, baseball is considered the “off-season”. Football is when the betting handle (a much debated term that actually means total amount of money wagered) really explodes. Sportsbooks can expect to be about 6-10 times busier during football season than any other.
Only $2.2 million of the handle has been on the 2018 FIFA World Cup. Soccer (European football) is growing in popularity in the United States but is still dwarfed in total viewership by the four U.S. major sports.
Now is the time to start setting up your sportsbook of choice for football season. Also, make sure to check out Free Picks USA for daily free sports picks.
