Why choose a legit NJ online sports betting app
World-class legal online sports betting is at your fingertips at a New Jersey regulated sportsbook. The New Jersey Division of Gaming Enforcement (NJDGE) regulates all online gambling products in the state.
Under the supervision of DGE, legitimate sportsbooks operate with a duty to provide security of players’ funds and personal information, as well as prompt and fair payouts.
Offshore Site does not and is not required to do so. These platforms operate outside the jurisdiction of federal law.
Players are responsible for paying applicable state and federal taxes on their sports betting winnings. Mobile sportsbooks in New Jersey automatically withhold federal tax on winnings over $5,000.
new jersey sports betting handle
New Jersey sports betting is beginning to reflect a slowdown in the sports calendar, with transactions totaling $633 million by June 2022, up from $766.4 million in May 2022, according to the New Jersey Division of Gaming Enforcement. is taking place. Prior to the recent decline, New Jersey had set multiple monthly records this year. In his March he surpassed $1 billion in his sixth transaction in seven months.
Last year, New Jersey became the first state to surpass $10 billion in stakes in a calendar year, according to the New Jersey Division of Gaming Enforcement. The $10.9 billion total processed was almost double the previous year’s total of $6 billion.
The numbers show that New Jersey’s sports betting market continues to perform well, even though New York began betting in early January.
It’s not yet entirely clear how much of New York’s mobile gaming market will affect New Jersey, but it’s estimated that 20% of Garden State’s gaming processing was previously from New York.
New Jersey vs Other Sports Betting States
New Jersey sets the standard for sports betting in the United States and is leading the mobile betting boom. Pennsylvania is the closest neighboring state with a market comparable to New Jersey. It’s just the beginning for New York, which launched online sports betting in January 2022.
Keystone State launched sports betting in May 2019. Both retail and online sports betting are legal under Pennsylvania law.
Most of the state’s 13 land-based casinos offer retail sports betting. However, mobile betting dominates the Pennsylvania market, with 90% of overall wagering processing coming from online sportsbooks.
Pennsylvania has 10 online sports betting platforms. New Jersey provided double that and Garden State stepped in Last October’s record-breaking month of online betting handles saw a whopping $1.1 billion in online betting.
New Jersey sports betting successes and failures
Success of sports betting NJ
The list of ways to define New Jersey’s success in online sports betting is incredibly long. Garden State offers a model that every other state is trying to copy for the mobile sports betting industry.
Simply put, New Jersey hosts an unrivaled online sports betting market. Total gaming revenue for 2021 brought the state more than $4 billion.
Online sports betting NJ fail
It’s hard to find anything that could be considered a ‘failure’ for the New Jersey sports betting industry. However, after a successful launch in New York in January 2022, the state’s operation as the nation’s number one sports betting market could gain some competition.
One way New Jersey could improve its overall betting handle is by allowing bets on in-state college teams like the Rutgers and Seton Hall. A proposed constitutional amendment to allow betting on college sports within the state has yet to bear fruit on that front.
Efforts to legalize sports betting in New Jersey
The repeal of the Professional and Amateur Sports Protection Act (PASPA) paved the way for the modern US sports betting boom. PASPA entered into force in 1993, Prohibition of sports betting In all but four states. This changed in May 2018 when the U.S. Supreme Court declared PASPA unconstitutional.
New Jersey was already gearing up to start sports betting in anticipation of the overthrow of PASPA. The state legalized both retail and online sports betting just one month after the PASPA ruling.
The state’s retail sportsbook opened days later, and in July 2018, New Jersey’s first online sports betting platform launched.
Notable Dates for Sports Betting in New Jersey
- May 2018 – US Supreme Court overturns PASPA, readying states to legalize sports betting. New Jersey did this just a month after Governor Phil Murphy said he approved the Sports Betting Act in June 2018.
- June 2018 – New Jersey’s first retail sportsbook goes live.
- July 2018 – online sports betting Released in New Jersey. DraftKings, FanDuel, SugarHouse and William Hill are the first operators to offer mobile sports betting in the state.
- March 2019 – Mobile sports betting monthly revenue exceeded $20 million for the first time. His March earnings for the New Jersey online sportsbook are $24.2 million.
- May 2019 – New Jersey has overtaken Nevada to become the #1 US state overall for sports betting handles. For the first time in U.S. history, Landmark went down as a state other than Nevada led the nation in betting her handle.
- October 2021 – The New Jersey gaming sector reported over $1 billion in sports wagering processing in September, breaking the US record for highest reported wagering processing in a month.
Online gambling site NJ
professional
An anchor in the online betting industry with the highest monthly handles and earnings
Great variety of sports betting apps with national brands and more local AC favorites
All apps legal and licensed by the NJ Department of Gaming Enforcement
Cons
No in-state college bets, but that could change
Few sports betting opportunities outside of Atlantic City and Meadowlands