New Jersey is number one in the country in sports book wagering
Sports betting throughout the country is big business, very big business. In 2018 the Supreme Court removed the federal ban on sports betting paving the way for some states to capitalize on that newfound revenue.
Sportsbook Review has done a complete analysis of the monies that betting states have wagered. The numbers are pretty impressive. Here in New Jersey, we rank number one in the country in money wagered since the 2018 ban was lifted.
New Jersey has had over $31 billion dollars wagered. Nevada is second with just over $27 billion wagered. And our neighbor Pennsylvania ranks third at just over $17 billion in wagering.
In 2021, Americans wagered $44 billion dollars on sports betting. In 2022 Americans wagered a huge $74 billion, an increase of 70%.
New Jersey had the $31 billion in wagering since 2018 because across the river initially New York did not. New York got the sportsbook wagering in 2022 and took off like a rocket, with wagering hitting $14 billion in 2022.
Part of the success of the New Jersey sportsbook wagering was that it was all ready set up with casinos, race tracks and other locations accepting sportsbook wagers before the formation of online wagering, which would allow a bettor to make a wager from the comfort of his home. Those factors combined made New Jersey tops in sports book wagering since the 2018 ban was lifted.
Even in 2022 with New York collecting $14 billion in sports book wagering, New Jersey came in second in the country with $8 billion beating out Nevada, Illinois and Pennsylvania. Impressive.
So now you know why the sportsbook business has taken off and paved its own path attracting more people to their sites with ads featuring former athletes and celebrities as spokespersons. Experts estimate that the trend of sports book wagering will continue at this healthy pace for the near future.
Good luck with your bet.
The post above reflects the thoughts and observations of New Jersey 101.5 weekend host Big Joe Henry. Any opinions expressed are Big Joe’s own.