Sports Betting Could Bring in Less Revenue than Originally Thought

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NEW JERSEY -

As the debate over legalizing sports betting continues, some analysts are saying New Jersey might not earn as much as state officials are expecting.

Moody's Investors Service notes that sports betting winnings have been slim in places like Nevada, where it only accounts for two-percent of statewide gambling winnings.

Global market advisors predict that by 2023, sports betting in New Jersey would bring in roughly $240 million, which is what internet gambling brings into the state now.

State and Atlantic City casino officials argue that had sports betting been legalized in time for the Super Bowl, the state's casinos would have significantly benefited from Eagles fans looking to place bets.

The United States Supreme Court is expected to decide whether to make sports betting legal nationwide by June.

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