Photo Courtesy of Meadowlands Racing & Entertainment
According to New Jersey’s Division of Gaming Enforcement, the state took in $31.7 million in Sports Wagering Gross Revenue for the month of March alone.
By Michael V. Cusenza
State Sen. Joe Addabbo, Jr. (D-Howard Beach) on Thursday cited recent gaudy revenue numbers enjoyed by New Jersey in an effort to get the necessary votes to bring sports betting to the Empire State.
According to New Jersey’s Division of Gaming Enforcement, the state took in $31.7 million in Sports Wagering Gross Revenue for the month of March alone. Additionally, for the first three months of 2019, Sports Waging Gross Revenue in New Jersey is at $63.2 million.
Addabbo noted that many New Yorkers who are looking to place legal sports bets are forced to travel to other states, like New Jersey and Pennsylvania.
“March is a big month for sports betting, with the March Madness college basketball tournament kicking off, and our neighbors in New Jersey have shown us here in New York just how much revenue can be made from legal sports betting with a mobile component, such as a smartphone or computer,” said Addabbo, the chairman of the Senate Committee on Racing, Gaming and Wagering. “New York could be reaping those same benefits, while simultaneously increasing our educational funding, if we are able to get mobile sports betting passed before session ends in June. It is a shame that our residents who wish to participate and enjoy legal sports betting must jump ship to other states. That is money taken out of our budget for important things like education.”
The U.S. Supreme Court last May lifted the federal ban on sports betting, indicating that it is up to individual states to decide if they want to allow wagering on athletic events.