Sports Betting Works For Atlantic CityJake Cooper | 26 Sep 2018
Legalised sports betting holds many benefits for local businesses, as well as a country’s economy in general. This is the current prevailing situation in the US state of New Jersey. Having recently been in the position of being able to legalise sports betting, the state is now seeing the fruits of many years of labour and rallying for the privilege.
It’s an especially exciting time for Atlantic City. Legalised sports betting has become the main new driver behind the company’s revenue income, with its nine casinos reporting their biggest growth in many years. The group’s total gaming revenue skyrocketed by an amazing 24.1 per cent, when compared on a year-on-year basis. Online gambling did its bit for operations, bringing in an estimated $24.8 million in revenue income during the month of August alone. Revenue gained from wagering on sport tallied in at $9.2 million for the month.
Serving The State
The income gained includes Atlantic City’s online sportsbooks as well as the operations at the Monmouth Park and Meadowlands racetracks. Meadowlands alone generated an estimated $3.06 million in revenue during last month.
The digital division of operations, which was launched on August the 1st, generated online income to the tune of $2.97 for the month of August alone. All in all, the state of New Jersey generated sports betting income amounting to an incredible $152,727,069 since it was legalised on June 14th.
Mississippi Joins The Revolution
Mississippi, having legalised betting in July, started trading on August the 1st. The state, home to about a third of New Jersey’s population of 9 million, reported revenue income of $9.8 million across all spectrums. More than 20 of Mississippi’s land-based casinos opened sportsbooks during the period running from August the 1st up to September the 3rd.
In the meantime, Delaware and West Virginia have also incorporated wagering into their respective industries, with Pennsylvania and Rhode Island expected to go live by the end of the current year.
Many more states have relayed their intention of incorporating these wagering services over the coming years. The legalisation of the industry certainly has come a long way, and is expected to go even further yet as the sector grows in the US.