Jersey, Baby!

    • New Jersey set an all-time betting record with $668 million bet.
    • This article was first published in the FOS Daily Newsletter. Subscribe here.

Today's Action

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New Jersey appears to have cemented itself as the U.S.’s top sports betting market. Nevada reported its August sports betting numbers yesterday, a whopping $200 million less than the Garden State’s previously announced record-setting $668 million. 

Despite being home to the Gambling Capital of the World, this wasn’t the first time Nevada has been upstaged by New Jersey. It surpassed Nevada in total wagers in July 2019 — a large population, proximity to New York, and mobile-friendly regulations all play into the growing divide. 

Also at play: COVID-19’s devastating effect on Las Vegas’ tourism industry, which is largely driven by gambling. Travel and crowd restrictions definitely play into Nevada’s fall from grace, and more states with larger populations are likely to surpass it as legalized sports betting becomes more widespread. 

August Sports Betting Totals:

  1. New Jersey — $668 million
  2. Nevada — $475 million
  3. Pennsylvania — $365 million
  4. Indiana — $169 million 
  5. Colorado — $130 million