The Week In Sports Betting: Critical Mass Building In New Jersey Market

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New Jersey sports betting

Friday marks the four-month anniversary of the US Supreme Court decision to overturn the federal ban on sports betting. Time flies when you’re having fun.

In the time since, four states have joined Nevada in the pool, with New Jersey setting the pace for emerging markets. The Garden State is the focal point of the industry at the moment, so we’ll start our recap there once again this week.

New Jersey sports betting rising to the occasion

Regulators released the NJ sports betting data for August, and the data is good.

Bettors wagered close to $100 million during the month, with books holding more than $9 million in revenue. That’s way more than June and July combined, a sign of things to come as football season kicks off. The state has collected taxes in excess of $1.5 million since launch.

That August report also includes the first numbers from online/mobile sports betting, further padding the NJ online gambling industry.

DraftKings Sportsbook was first to market, and it’s hard to imagine a hotter start. It scored a $3 million win for the month, accounting for nearly a third of the total revenue for the state. It has already booked a million bets, literally.

Competition in the virtual realm was limited last month, but change is coming quickly. There are already eight online/mobile platforms available today, including two new entrants this week.

888 Sportsbook entered the market last weekend, actually, incorporated into the company’s existing online poker/casino platform. It’s powered by Kambi.

BetStars went live on Thursday evening, also completing its full set of US online gambling products. It’s available as a standalone Android platform and integrated into PokerStarsNJ on iOS.

News from other states

New Jersey dominated the sports betting headlines, but a few bits of relevant news popped up elsewhere, too.

Takes and tidbits

Considering the dense chatter out of New Jersey and the kickoff of football season, it was actually a relatively light week for the sports betting industry itself. Here are some leftover crumbs that are worth a special mention, though:

That’s all, folks. Stay safe and dry if you’re in the way of Florence, and remember to bet responsibly if you’re speculating on the games this Sunday.

Enjoy your weekend.