Hamilton, NJ -- (SBWIRE) -- 10/31/2018 -- It has been four months since the State of New Jersey legalized sports gambling, and the results are staggering. With sports fans participating online, in casinos, and at a variety of other locations throughout the state, sportsbooks in NJ have seen tremendous revenue from the industry.
In just the first few weeks since betting on sports became legal in New Jersey, the state has seen a steady rise in monthly wagers. In the first 17 days alone, from mid-June to the end of the month, the state reported $16.4 million in wagers and a little less than $3.5 million in revenue, according to a report released by Legal Sports Report. The same sports report disclosed July and August sports betting wagers and revenues. July saw just under $4 million in revenue from five casino operators, where August saw nearly double that with around $9 million in revenue from eight casino operators.
In September, wagers and revenues increased once again, with more than $184 million in wagers placed on sports gambling in the state. From these bets, New Jersey casinos and racetracks made over $11 million in revenue, while online sports gambling revenues eclipsed $12.5 million, according to the UNLV Center for Gaming Research.
The Council on Compulsive Gambling of New Jersey sees the benefits the tax revenue can bring while reminding sports gamblers of the dangers of problem gambling behaviors. "Sports gambling is not inherently bad or dangerous," explains Neva Pryor, Executive Director of the CCGNJ, "but it does expose new audiences to gambling, which will inevitably lead to more disordered gamblers."
Although participating in sports betting in Atlantic City or anywhere else in the state does not mean a person will develop a gambling problem, the CCGNJ wants everyone to understand and be able to recognize the warning signs of a gambling problem.
To learn about the signs of disordered gambling or to help a loved one get help for their disordered gambling behaviors, call the 24/7 confidential hotline, 800-GAMBLER or visit https://800gambler.org/ today.
About the Council on Compulsive Gambling of New Jersey
The Council on Compulsive Gambling of New Jersey is a non-profit, private organization dedicated to helping individuals seek help for their disordered gambling problem, and for concerned friends and loved ones to confidentially express their concerns about someone close to them. Their 24/7 hotline is 800-GAMBLER. The Council also works to train professionals in the fields of gambling addiction and recovery.