New Jersey Archives - Legal Sports Report

NJ Sports Betting Handle Still Growing Strong Despite NY Launch

The NJ sports betting market has not stopped growing while facing the launch of mobile NY sportsbooks earlier this year. Handle at New Jersey sportsbooks was $926.9 million in April, which is 23.9% higher than last year. That figure was down 17.3% month-over-month, though that reflects the slower US sports betting calendar. Sports betting revenue […] Read More

Posted on: May 16, 2022 | | Matthew Waters

Handle At NJ Sportsbooks Still Growing Despite NY Launch

NJ sportsbooks saw handle grow again in March, marking the third straight month of growth despite New York‘s launch. New Jersey sports betting handle hit $1.121 billion in March, according to the state report released Monday afternoon. That is up 12.8% over February and 24.6% over March 2021. Sports betting revenue hit $66.4 million for […] Read More

Posted on: April 19, 2022 | | Matthew Waters

Mobile NY Sports Betting Tax Bill Tracking Well For Projections

The mobile NY sports betting market has already contributed $163.6 million in taxes for education in under three months. The eight online New York sportsbooks combined for $58.3 million in taxes in March, which is 51% of the $114.3 million won by the books last month, according to the state’s report released Monday. The $1.638 […] Read More

Posted on: April 12, 2022 | | Matthew Waters

Mobile NY Sports Betting Expansion On Back Burner For Now

An expanded mobile NY sports betting market is not expected to make the state budget, according to Sen. Joe Addabbo Jr. “It turns out that you don’t tinker with something that’s successful and it may be premature,” Addabbo told LSR Wednesday. “So we threw it out there, we looked at it, we analyzed it a […] Read More

Posted on: April 7, 2022 | | Matthew Waters

Mobile NY Sports Betting Sees Lowest Full Week Of Handle To Date

Mobile NY sports betting handle dipped to its lowest handle total in the week ending March 27 since the market launched in January. There was $327.8 million bet for the week at online New York sportsbooks, down 23.4% from the prior week’s $428 million bet. The decline is not stunning, considering the drop in March […] Read More

Posted on: April 5, 2022 | | Matthew Waters

How Did An Australian Trader Get BetMGM Fined In New Jersey?

BetMGM NJ incorrectly accepted bets on two in-state college basketball games last year thanks to errors from its co-parent company Entain. Read More

Posted on: March 25, 2022 | | Brad Allen

Mobile NY Sports Betting Already Near $4B Wagered In 10 Weeks

Mobile NY sports betting is already approaching $4 billion in handle over 10 weeks of operation. The $406.4 million bet during the week ending March 13 pushed total handle with mobile NY sportsbooks to $3.927 billion since launch. That makes New York the eighth-largest US sports betting market in less than three months, falling between […] Read More

Posted on: March 21, 2022 | | Matthew Waters

NJ Sportsbooks See Handle Drop But Is It New York’s Fault?

NJ sportsbooks reported a decline in handle and revenue in February, but that should not immediately be attributed to New York. February’s slower sports calendar led to the first month of less than a billion dollars bet in New Jersey since August. Bettors wagered $985.6 million and kept all but $30.9 million for a 3.1% […] Read More

Posted on: March 16, 2022 | | Matthew Waters

Will NY Sports Betting Market See More New Apps This Year?

Assemblyman Gary Pretlow and Sen. Joe Addabbo Jr. want to see more operators in the NY sports betting market – but not at the risk of tax dollars. Introduced last week, Pretlow’s A 8658 and Addabbo’s S 8471 would allow more mobile sportsbooks to enter New York, at a hefty price. Platform providers would have […] Read More

Posted on: March 10, 2022 | | Matthew Waters

Mobile NY Sports Betting Hits $1.5B Handle In February

The seven active mobile NY sports betting operators combined for $1.491 billion in bets through all but one day of February. Considering that average handle per day works out to $55.2 million, it should be safe to assume the entire month of February will eclipse the $1.5 billion mark. The official monthly breakdown might not come […] Read More

Posted on: March 7, 2022 | | Matthew Waters