Sports Gambling Legal In Atlantic City
As of recently, New Jersey online sports betting has been established, by law, as a legal form of gambling. With the right legislative reforms in place, sportsbooks started applying for a license. We are going to look at the best NJ betting sites. The NJ sportsbooks offer a large pool of sports types and cover a wealth of sporting events.
- ATLANTIC CITY, N.J. — New Jersey lawmakers want to amend the state constitution to allow sports betting on all major collegiate games, removing a big restriction in a wagering market that is.
- NJ Sports Betting FAQ NJ is already a forerunner for US gambling; it’s the home of Atlantic City and it has had NJ online casino games for years. It’s also the epicenter for the future of legal sports betting in the United States. Here are some questions and answers about NJ sports betting.
- Bottom line, 40-plus years into its gambling history, Atlantic City (and the rest of the state) now have a new avenue for legal betting. And two years after that first bet was placed, New Jersey boasts a robust sports betting market to complement its record-breaking online casino market. Operators want a piece of the NJ sports betting pie.
Atlantic City’s sports betting and online gambling numbers continue to make up for the decline in the revenue of the city’s nine brick and mortar casinos.
Atlantic City casinos reported a year over year decrease of 8% in Gaming wins for the month of October. However, online gaming revenue increased by more than 106% last month, contributing a total of $93.45M to the total monthly revenue of the industry. The total gaming revenue for the month of October, per the state’s Division of Gaming Enforcement, was $304M.
Atlantic City Casino Control Commission chairman James Plousis gave credit to the gambling industry’s October 2020 performance during these difficult times. Said Plousis:
“During this time, Atlantic City continues to show resilience in the face of necessary and ongoing restrictions on capacity, amenities and entertainment.”
Impact of the Pandemic
The decrease in the revenue from table games and slot machines shows the impact of the COVID-19 pandemic in Atlantic City casinos. These brick and mortar gambling places were forced to close for 107 days beginning March 16th. They were allowed to reopen in early July but the capacity limitations, travel restrictions, and national recession have resulted in the decline of casino win in every month.
Atlantic City casinos reported $186.1M in casino win for October 2020. That amount is short of at least $16M from the total for October 2019. Of the nine Atlantic City casinos, only the Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort, reported an increase in casino win for October 2020.
Through the first 10 months of 2020, the total gaming revenue and casino win have decreased by 23% and 46% respectively, compared to the same period last year. With two months left in the year, it’s unlikely that this year’s revenue will match 2019’s high of $3.29B in total casino industry gaming revenue.
Sports Betting Sets Records
Sports Gambling Legal In Atlantic City Atlantic City
While Atlantic City casino revenues continue to struggle, AC’s sports betting industry continues to set records. Sports gamblers wagered a record $803M during the month of October. These included bets placed at brick and mortar casinos, Atlantic City online gambling sites, and the city’s three racetracks.
Legal Atlantic City sports betting benefited from the MLB’s World Series and the NBA Finals which were both held last month. Likewise, the the NFL and NCAA college football started their respective seasons in October. As a result, October’s monthly handle easily bested the previous record of $748.6M set in September 2020.
Sports Gambling In Atlantic City
New Jersey’s sportsbooks have taken nearly $4.1B in legal sports bets on a year to date basis. This has put the Atlantic City sports betting market on pace to break Nevada’s single-year record of $5.3M in sports wagers made .