Two Weeks After Sports Betting Is Legalized, Casinos and Racetracks Rake in $16.4 Million

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NEW JERSEY -

In just two weeks, two casinos and a racetrack took in almost $16.5 million in sports bets.

From the time sports betting became legal in New Jersey on June 14th through the end of that month, $16.4 million was wagered.

Figures released on Thursday, July 12th, by the New Jersey Division of Gaming Enforcement show the Borgata and Ocean Resort casinos in Atlantic City, and the Monmouth Park Racetrack, saw gross sports-betting revenue of nearly $3.5 million.

Of the bets made on events that have been completed, the casino or racetrack retained 7.8-percent of the amount wagered.

Regulators caution that bets involving future outcomes, such as the winner of baseball's World Series or football's Super Bowl, won't be paid out for months.

The casinos and racetrack are the only places legally taking sports bets right now in New Jersey.

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