With the legalization of sports wagering in New Jersey in June 2018, it wasn’t long before Governor Phil Murphy predicted that his state would eventually surpass Nevada in the space.
A mere 10 months later that prediction started looking more real with more than $2.3 billion wagered, an impressive pace that put New Jersey in the same conversation with Nevada, which took in more than $5 billion in bets in 2018.
At the time, Gov. Murphy was speaking at the Betting on Sports in America conference where he boldly said, “We can overtake Nevada as early as next year.
Fast forward to just last month when Bloomberg ran this headline:
“Move over Nevada: New Jersey is Now the Sports Betting King”
It was an impressive milestone. For the first time in the sports wagering landscape New Jersey surpassed Nevada, besting them in the month of May by an edge of $1.4 million. The sheer number of people in New Jersey vs. Nevada surely played a factor, also aided by customers coming from New York and Pennsylvania to wager remotely. Add to that the mobile options in Jersey with better technology, which helps drive sports wagering, and the achievement came as little surprise to industry watchers.
Though the crown may pass from hand to hand in the next few months, New Jersey’s milestone clearly illustrates just how big an industry sports wagering can become across the United States.