The New Jersey Gambling Commission have released their figures for the month just gone, which shows sports betting revenues for October up a massive 297% on the same month in 2018. Overall revenue for the month of October was $293m, compared to $239.1m for the corresponding month last year. This reflecting a healthy 22.9% increase.
For the year-to-date, the Industry’s Total Gaming Revenue was $2.875 billion through October 2019 compared to $2.387 billion in the prior period, reflecting an increase of 20.4%.
Certainly the gambling industry in the US is definitely going from strength to strength and this is not borne out just by the latest figures from New Jersey, with other states such as Pennsylvania, also recently continuing to post healthy returns.
Regulation of the industry is also proving a good vehicle for raising tax dollars for the US states where gambling is regulation and licensed. Indeed, just for the month of October 2019 alone, tax revenue accrued from the industry in New Jersey amounted to $26.8 million.
