Sports betting in New Jersey is taking off big time, just 5 months in

David Madden
November 24, 2018 - 6:00 am
 William Hill Sports Book at Ocean Resort Casino in AC

Mike DeNardo | KYW Newsradio

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ATLANTIC CITY, N.J. (KYW Newsradio) -- Sports betting has taken off in New Jersey since its inception in June.

All but the Hard Rock have opened physical and online sports betting sites. Resorts added its casino parlor this week, although their pairing with Draft Kings leads the internet field in New Jersey. Put it all together, and the eight casinos in the game have taken in some $600 million.

In just five months, Rummy Pandit at the Levenson Institute of Gaming, Hospitality and Tourism at Stockton University says it’s more than just the action in the lounge.

“This not just generates direct revenue for sports betting, but it also generates auxiliary revenue for accommodations, food and beverage, entertainment, everything else that goes along with sports betting,” Pandit told KYW Newsradio.

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New Jersey’s getting a nice chunk of change as well, with sports betting taxes at eight and a half percent of the revenue on site, 13 percent on the web.

There are benefits away from the casinos, too.

“I believe eventually Atlantic City, for us to thrive, gaming is an important component but non-gaming is certainly a rising star as well,” Pandit added.

Las Vegas now takes in two thirds of its revenue away from the casinos. Atlantic City is approaching about a third of its business in non-gaming activity.