New Jersey Registers All-Time High of $667M in Bets Taken for August 2020

New Jersey
New Jersey had its best betting month ever in August 2020. According to the latest revenue data released by the state’s Division of Gaming Enforcement on Monday, New Jersey’s sportsbooks took a total $667.9M in bets for the month of August 2020. That’s double the amount they received in August 2019 and it is also an all-time record for monthly bets taken by any state with a regulated betting market.

Said FanDuel spokesman Kevin Hennessy via ESPN:

“It was good to have sports back in August. The NBA and NHL bubbles and MLB’s strong return gave sports betting in New Jersey the needed boost to a record month.”

All-Time High

The previous all-time high for a state with legal sportsbetting  was $614.1 which was achieved by Nevada in November 2019., it was highest betting revenue since sportsbetting was was introduced in the Silver State in the 1950s. But New Jersey’s August 2020 figures topped that, even without the NFL, America’s favorite sport to bet on.

According to the report, the “other sports” category picked up the bulk of the August revenue with a total of $204.9M. Other sports are classified as sports other than baseball, football, basketball, and parlays. The NBA took in an estimated $166M bets while MLB accounted for around $150M in wagers. Parlay bettors were glad to see major sports return and the total handle for these events was $144.9M.

Record May Not Last Long

Despite the fact that the COVID-19 pandemic health restrictions limited New Jersey’s casinos to 25% capacity, betting action picked up. According to the report, 90% of the total amount wagered was placed in online platforms in the Garden State. New Jersey sportsbooks won a net amount of $39.5M on sporting events that took place in August 2020.

With the NFL and college football seasons beginning last week and the NBA, MLB, and NHL continuing with their seasons this month, New Jersey’s numbers are even expected to get better and August’s record figures may not last long. The Garden State’s sportsbooks have amassed $2.5B from January to August 2020, despite the pandemic. Last year, New Jersey’s sportsbooks saw a total of $2.53B placed bets over the same season.

The Garden State isn’t the only state to report all-time high numbers during the month of August. Indiana’s betting handle jumped by $100M from July to a total of $169M last month. Likewise, Iowa’s handle rose 120.1% to $53M. On the other hand, West Virginia reported that its sportsbetting handle tripled last month.

5Dimes Temporarily Ceases U.S. Offshore Operations

Icon Displaying Variety of Sports, Hand Holding Cash
Costa Rica-based online sportsbook 5Dimes has issued a notice to its customers informing them that it will be temporarily ceasing its U.S. operations effective September 25, 2020.

The move is seen by industry experts as part of a bigger plan by 5Dimes to legitimize its operations in the United States. 5Dimes has operated in the United States an an offshore sportsbook. But with the U.S. Supreme Court’s decision to strike down the Professional and Amateur Sports Protection Act in 2018, states have been allowed to pass their own legislation that will legalize sports betting. Since then, more than 20 states have legalized sports betting in their jurisdiction and that number is expected to increase further. With the legal sports betting market growing in the United States, 5Dimes is aiming to be among the legal gambling operators in the country.

In a social media message, the sportsbook said:

“5Dimes is excited to announce that it is embarking on a new business venture. With the evolving legal landscape in the United States, we want to take advantage of the opportunity to offer an improved online sports betting experience to our many US customers. In order to do this, we need to suspend temporarily our service of the US market so that we can launch our new operations with a fresh start.”

Temporary Cessation

To facilitate the temporary cessation, 5Dimes will stop accepting best from U.S. markets at 12am ET of September 21, 2020. Customers have been informed to withdraw their balances until 12 am ET of September 25, 2020.

All customer funds remaining on 12 am ET of September 30th will be transferred to a third-party claims administrator who will attempt to deliver the funds to the account holder. All funds undelivered by 12 am ET of September 30, 2021 or one year from now,  will be deemed abandoned by the owner.

State By State Entry

After its temporary closure, sources say that 5Dimes will attempt to re-enter the U.S market state by state, seeking the approval of state regulators. The United States is one of the biggest sports betting markets in the world. But American punters have always been wary of offshore betting sites. 5Dimes hopes that becoming legal in the U.S. will help it earn a bigger share of the pie.

Also, Mature U.S. markets like Nevada and New Jersey are strict in their laws against offshore gambling operators in the last five years. Offshore betting site Bovada and BetOnline have stopped accepting New Jersey customers since last year because of issues with state regulators. Once 5Dimes gets its U.S.licenses, they will no longer have to worry about suffering the same fate.

Atlantic City Casinos to Resume Food and Beverage Operations on September 4

View of Atlantic City Beach

Good news for Atlantic City casinos and gambling patrons.

On Tuesday, New Jersey Gov. Phil Murphy signed Executive Order No. 183 which states that food and beverage operations in the state’s casinos may resume operations but at a 25% capacity. The order, which takes effect on Friday, September 4th at 6 am, is expected to boost casino operations during the coming Labor Day weekend.

The move came after New Jersey continues to improve its COVID-19 figures. The state has seen a total of 3,989 COVID-19 positive cases with 245 deaths and 2,697 recoveries as of last Tuesday. However, according to the Atlantic County Division of Public Health, there were no COVID-19 related deaths for a six-day period ending last Tuesday.

Said Gov. Murphy:

“Given the progress we continue to see statewide, and with the proper precautions and limitations in place, I am proud that we can take this step today to allow our restaurants to once again welcome patrons back for indoor dining services.”

A Big Relief

The news came as a big relief to the Atlantic City casino industry which as been reeling since the coronavirus pandemic forced them to shut down for four months beginning March this year. They were allowed to reopen last July but at a limited capacity and without food, drinks, and smoke.

Atlantic City casinos are coming off a three-month period where they suffered an aggregate loss of $112M with the Golden Nugget as the only gambling operator to have a positive result. The negative figure was an 85% decline from their performance for the same quarter in 2019.

Booze and Smoke Now Allowed

Under the Executive Order, casinos will be allowed to serve drinks to its customers on their gaming floors. However, booze must be ordered through a server and guests are prohibited from leaving their seats while consuming their beverages. E.O. 183 also permits gamblers to resume smoking on the gaming floors although casinos are given the option to maintain their smoking bans.

Casinos have been smoke-free since their reopening and while smokers find this decision as a relief, those who advocate smoke-free gambling will most certainly be disappointed, especially since many of them thought that the temporary ban would eventually become permanent.

The legislation also allows the operation of “indoor performance-based entertainment centers” but subject to the 25% capacity limit, a cap of 150 non-staff guests in any single venue, plus health and safety protocols. However, it remains to be seen if the casinos will open their entertainment venues since the income from limited operations may not compensate the cost to produce the shows.

theScore Bet to Run Online NJ Casino for Twin River

Twin River Casino
Score Media and Gaming Inc has been given access to run an online casino for Twin River Worldwide Holdings Inc. in New Jersey.

Said John Levy, founder and CEO of theScore:

“The addition of an online casino offering to our award-winning and truly differentiated mobile sports betting platform broadens our reach and deepens our strong portfolio of assets. This is yet another step towards providing theScore’s media and betting patrons with a completely holistic and tightly integrated media and gaming experience.”

A Long Term Deal

In an announcement made on Thursday, Score Media subsidiary theScore Bet said that it signed a long term deal with Twin River for the opening of an online casino in the Garden State. The launch is expected to be in the second half of 2021, subject to the procurement of the necessary permits and licenses from the New Jersey Division of Gaming Enforcement.

Under the agreement, Twin River will receive a percentage of the revenue made by theScore Bet in its online casino operations in New Jersey, subject to minimum guaranteed amounts and an upfront fee.The contract is for 10 years but theScore Bet has the option to extend the pact for another five years plus five more years if both parties consent.

Contingent on Bally Atlantic City Purchase

Score Media has been taking bets in New Jersey since 2019 when it launched its sports betting app there. The Canadian betting company is close to opening its doors in Colorado and is in the process of securing regulatory approvals in Indiana. theSports Bet was named as the Best Online Mobile Sports Betting Experience at the Cynopsis Sports Media Awards earlier this year.

Meanwhile, Twin River is entering the Garden State via a $25M acquisition of Bally’s Atlantic City in Boardwalk. The deal, announced in April, is currently under works but has not been finalized. Twin River’s covenant with theScore Bet is contingent on the completion of the purchase.

Twin River Serious in New Jersey

Based on its recent moves, Twin River is serious in New Jersey and it is looking to maximize the potential of its purchase of Bally’s. The treaty with theScore Bet is its third big move in two weeks that is related to its Garden State business.

Twin River entered into a sports betting contract with Esports Entertainment Group last week. Just this Tuesday, the gambling company also revealed a similar accord with Philadelphia-based sports betting startup Sporttrade.

PointsBet Picks Evolution to Provide Table Games

Evolution Gaming
Online bookmaker PointsBet has appointed Evolution Gaming as its partner for live casino games in its U.S. gambling market. Under the partnership, the two will work together to roll out live casino offerings to PointsBet’s online programs moving forward.

Said PointsBet in a statement:

“We are thrilled to partner with Evolution Gaming to launch Live Casino technology in US jurisdictions, where we plan to offer our proprietary online casino platform. The addition of Evolution Live Casino extends the appeal of PointsBet’s premium product in the rapidly growing US market.”

U.S Expansion

It can be recalled that PointsBet is aiming to rollout its online casino in Michigan late this year while also targeting a mid-2021 launch of online casino games in New Jersey. Evolution Gaming chief commercial officer Sebastian Johannisson said in a statement that the company will offer PointsBet a mix of its classic games, poker, and “game show” games. Per Johannnison:

“Evolution’s Live Casino portfolio offers PointsBet a rich mix of world-leading online Live Casino games including classic table games, online Poker variants that are big favourites with US players, and our new generation of award-winning, record-breaking game show games. In addition, PointsBet will have the option of exclusively branded dedicated tables and environments, should they require these.”

PointsBet has been in the U.S. market since last year as a mobile sports betting provider in the states of Indiana, Iowa, and New Jersey. Recently, it revealed plans for a massive expansion as it has deals to roll out in Michigan, Colorado, and Illinois.

Like PointsBet, Evolution Gaming has been expanding in the United States since entering the market two years ago in New Jersey. Evolution is scheduled to launch a gaming studio in Pennsylvania later this year and also has plans to launch one more in Michigan.

About PointsBet

PointsBet is one of the fastest growing sportsbooks in the United States. Originally from Australia, PointsBet launched in the U.S. in 2019. It prides itself in having one of the quickest and most user-friendly apps in the market while also providing the best experience for its users.

It is the only sportsbook in the United States to offer “PointsBetting”- a new and innovative way in making bets. PointsBet also offers the most markets on all four major North American sports leagues. It is an official gaming partner of several professional sports teams like the Denver Nuggets, Colorado Avalanche, Colorado Rapids, and Detroit Tigers.

Last week, PointsBet also added the NBA’s Indiana Pacers to its list of partner teams. One day after the Pacers deal, PointsBet also entered into an agreement with Twin River Management to provide online casino games in New Jersey.

Playtech Games Now Available In New Jersey Via Bet365

New Jersey CasinosOnline gambling aficionados in New Jersey can now enjoy Playtech’s casino content. This development came after the British online casino games developer signed a long-term deal with Bet365 last Thursday to make its portfolio available to customers in the Garden State.

Significant Moment For Playtech

Playtech’s partnership with Bet365 is its first major step in United States territory, and it plans to partner with other suppliers in the coming months. The launch comes after just over a month after it secured the necessary regulatory approvals from the New Jersey Division of Gaming Enforcement (NJDGE). It can be recalled that it was only last June when Playtech got the go signal to offer its casino games via Bet365.

Said Playtech chief operating officer Shimon Akad:

“This is a significant moment for Playtech and our development in the US. Launching Playtech’s software in the US is a landmark, and we are very pleased to be taking this step with one of our most trusted partners in bet365.“

Bet365 is another British online gambling company. It has its own distinctive content but will be the first to launch the Playtech content. Bet365 entered the U.S. market in 2019 and has since been offering its sportsbook and online casino services to customers in New Jersey in a partnership with Hard Rock Atlantic City.

Exciting Times Ahead

During a press release held last week Playtech said that the launch will see the locally licensed Bet365 go live with a large selection of its games such as the top-rated five reel Frankie Dettori’s Magic Seven, White King, and Great Blue. Akad added that more titles and content are going to be added to the portfolio very soon:

“With more titles and content launching in the coming weeks and months, there are exciting times ahead. This launch also serves as a prime example of our commitment to partnering with leading operators to bring leading software services and great content to new and growing markets.”

Founded in 1999, Playtech is the industry’s technology leader in gambling software, services, content, and platform technology across the industry’s most popular markets. It is listed in the London Stock Exchange and is also the pioneer of omni-channel gambling technology via Playtech ONE.

PointsBet Inks Online Casino Deal in New Jersey

Australian-based online bookmaker PointsBet has been busy solidifying its presence in the United States this week.

PointsBet Logo

After becoming an official gaming partner of the NBA’s Indiana Pacers franchise, PointsBet inked a multi-year partnership with Twin River Management Group on Thursday to serve as an iGaming skin in the state of New Jersey.

Primary Skin Agreement

The 10-year “primary skin” agreement with Twin River will see PointsBet provide iGaming and online casino services in New Jersey via its mobile app and website. The deal, however, is contingent on Twin River completing its purchase of Bally’s Atlantic City and PointsBet obtaining the necessary state approvals and licenses.

“PointsBet is thrilled to partner with Twin River to offer its flagship online casino product in New Jersey as a complement to its critically acclaimed sportsbook,” noted Manjit Gombra Singh, the firm’s President of Product & Technology. “PointsBet continues to innovate and iterate upon its proprietary technology profile and this agreement is yet another signal that PointsBet remains focused on providing a modern gaming experience for modern times.”

Under the contract, PointsBet will pay Twin Rivers a percentage of the net revenue from iGaming and casino operations in the state. PointsBet will also shoulder all the licensing and regulatory costs during the decade-long partnership. Prior to the deal, PointsBet already had a presence in the state of New Jersey with its sportsbook app, serving as a skin for the Monmouth Park Racetrack in the Meadowlands.

PointsBet is still in the process of developing its online casino products. The company is currently in advanced discussions with numerous live dealer table games and online slot providers. The New Jersey launch is expected to take place in the first half of 2021, or after the debut of its online casino product in Michigan later this year.

Pacers’ Gaming Partner

One day earlier, PointsBet announced that it had signed a multi-year pact to become an official sports gaming partner of the NBA team Indiana Pacers.

The Pacers’ deal will put the PointsBet logo in the “apron” of the Bankers Life Fieldhouse. The “apron” is the out-of-bounds part of the court between the baseline and the team bench. PointsBet is the first sports betting company to get its logo displayed on that part of the stadium. Earlier this year, PointsBet also announced a deal to become an official sports betting operator of the NBA.

The PointsBet logo will also appear throughout the Pacers’ home court, including in phone charging stations and along the scorer’s table. The Pacers are also eyeing to showcase the Aussie sportsbook on their digital platforms as well.

New Jersey Officially Approves Eldorado-Caesars Deal

For more than a year, two companies have been working to join forces and become the largest casino operator in the country. It’s been a long, sometimes frustrating journey for Eldorado Resorts and Caesars Entertainment. Fortunately, it looks like this deal is nearly complete. New Jersey has officially approved the Eldorado-Caesars deal; the final green light needed for the companies to merge.The Word Approved Written In Red

The champagne is flowing over in Nevada. Today, we’re going to look at what led to New Jersey’s approval. We’ll also discuss what still needs to be done for these companies to officially become one.

Timeline of the Eldorado Resorts-Caesars Merger

Eldorado Resorts has long been one of the most powerful casino companies in the United States. It’s grown considerably over the years and now owns property in many different states. Eldorado CEO Tom Reeg continued to tell the media he wanted to expand even further over the past few years.

In June of 2019, Reeg’s ambition became clear. News broke that Eldorado Resorts had agreed to purchase Caesars Entertainment for an incredible $17.3 billion. With the purchase, all of Caesars’ assets would become Eldorado’s.

It’s the largest merger between two casino companies in history. In order for the deal to go through, these companies needed approval from the various gambling commissions in the states they operate in. The FTC also needed to approve the deal to ensure this company does not form a monopoly.

Company officials immediately began working to gain these approvals. Many different properties needed to be sold. Eldorado and Caesars were doing what was required and the companies continued to receive the green light from different gaming commissions.

In late June, the FTC formally approved the Eldorado-Caesars deal. Only three more states needed to sign off on the deal for it to complete. Nevada gave a thumbs up and just a few days later, Indiana did the same. It then all came down to New Jersey’s commission.

This week, the last approval needed for this merger to go through was granted.

New Jersey Finally Agrees to Allow the Eldorado-Caesars Deal

It wasn’t a surprise to see states take so long to approve this deal. Once it’s complete, Eldorado-Caesars will become the country’s most powerful gaming company. Commissions want to do everything they can to ensure things are fair for the other casino companies operating in their territory.

New Jersey, in particular, was very slow to give the green light. It forced a number of property sales in Atlantic City. Commission officials met on many occasions to discuss the impact that this merge will have on the state’s casino industry.

Last week, members of this commission met for a final time in Las Vegas. Here, officials within Eldorado Resorts and Caesars explained how things will remain competitive for all other casinos in Atlantic City. It seems their efforts have finally paid off. The commission officially gave these companies its approval.

Commissioner Alisa Cooper made sure to stress that “The stakes could not be any higher” once these companies come together. Ultimately, she and other commission members felt confident that the newly-merged company would not concentrate too much of the local gambling economy.

With New Jersey’s approval of the Eldorado-Caesars deal, things are now close to being finalized. This merger is expected to finish in the next few days. A few more papers need to be signed, yet all the hard work is now done in getting the deal done.

Will This Deal End Up Paying Off for Eldorado Resorts?

When Tom Reeg first agreed to purchase Caesars Entertainment, he likely had a much different idea of what this week would look like. At the start of 2020, the casino industry was surging and most felt things would continue on that path for years to come. In just a few months, the country’s land-based gambling industry was turned on its head.

Casinos around the country have begun to reopen. Some have since had to close down due to a spike in Covid-19 cases. Many casino companies are now being forced to lay off thousands of their workers.

It’s clear that the casino industry is in a tough place. New Jersey’s gaming revenue was 66% lower in June of this year than it was in 2020. It’s important to note that casinos had not opened here until July, though. Most analysts predict that casino revenue will continue to be significantly lower this year, even after casino markets reopen.

Eldorado paid $17.3 billion to acquire Caesars. Company officials likely hoped that this money would immediately begin flowing back in from its new properties. That may not necessarily be the case right now.

No one can really say how things will look in the future. It’s hard to imagine the land-based casino industry never recovering. We’re in strange times, however, and it could be years before casinos truly get back to the levels they were at last year.

With New Jersey’s approval, the Eldorado-Caesars deal can finally conclude. Now, the focus for this new casino giant will be increasing its revenue flow. Stay tuned for updates over the next few weeks.

Casinos in New Jersey May Reopen by July 4th

Since March, all of the casinos in New Jersey have been completely shut down. Cities like Atlantic City, that rely heavily on their gambling industries, have been hurting badly from these regulations. Fortunately, Governor Murphy claims that casinos in New Jersey may finally reopen to the public by the Fourth of July.New Jersey

Many states have already begun allowing their casinos to open back up. Some will begin lifting their restrictions next week. Today, we’re going to look at what lawmakers in New Jersey have planned to revive the state’s casino industry.

Let’s get into it!

Coronavirus Cases Continue to Drop in New Jersey

For weeks, New Jersey has been the second-worst affected state in the country in terms of Covid-19 cases. As of today, more than 161,000 individuals here have been infected with this new respiratory virus. As a result, strict regulations are set in place here.

Many businesses are completely shut down in this state. Many restaurants, gyms, and other venues that draw in large crowds may be forced to permanently close. The worst thing is that many are unaware of when these restrictions will be lifted.

New Jersey’s casino industry has taken a major hit over the past few months. Atlantic City is thought to be the gambling hub of the East Coast. Since March, however, this city has been essentially shut down.

Cases of Covid-19 are continuing to drop. Many feel that it’s time to start allowing certain businesses to operate again. Governor Phil Murphy is hesitant to start getting back to normal, and fears another major wave may be just around the corner.

Tens of thousands of individuals have lost jobs due to the casino shutdown in New Jersey. Fortunately, we may be close to seeing things get better. Murphy claims that some of the gambling venues here may reopen by mid-summer.

Governor Murphy Comments on Reopening Casinos in New Jersey

Casinos were some of the first venues that states shut down when this coronavirus first began spreading in the US. Many felt that casinos were perfect places for this virus to quickly spread. As time went on, some states began slowly allowing casinos to open back up.

Governor Murphy has refused to say when casinos in New Jersey will be allowed to open back up. He claimed it would depend on how quickly infection rates started to fall. Casino owners in the state continued to push lawmakers to make a change.

Fortunately, Murphy feels that it’s almost time to reopen the state economy. The Governor spoke to the media this week about getting the state’s gambling industry back up and running. He gave some insight into when this may take place.

“It’s probably still too early to give you a very specific answer but there’s a lot of work going into that right now,” Murphy said. “But we are trying like heck to get toward, I hope, before the Fourth of July or at least by the Fourth of July … that we’re in a position where we can say, you know what, subject to a lot of different parameters the casinos can be open again.”

Murphy is correct in saying it’s difficult to reopen casinos. Many states are still looking at how to do this safely. The Governor seems to recognize how important this is, though.

Casinos in Las Vegas are scheduled to open over the next few days. Perhaps this will give the Governor some ideas on how this can be done safely and effectively.

Several Major Las Vegas Casinos Will Open Tomorrow

Atlantic City is one of the top gambling destinations in the city. Las Vegas, however, remains the biggest casino hub on the planet. Under normal circumstances, tens of millions of visitors fly here every year to enjoy the gambling and entertainment options.

All casinos here have been shut down since March. In the past, this would have seemed impossible. These are unprecedented times and an incredible amount of money has been lost due to the regulations.

On June 4th, several major casino-resorts here will finally reopen. Casino companies have established plans to protect their guests and staff. Nevada’s leaders feel these plans are good enough to allow casinos to reopen.

It remains to be seen how many tourists will begin visiting Las Vegas. Many of the casino owners here have been offering new travel deals to entice tourists. Derek Stevens, owner of The D Hotel-Casino, even offered 1,700 free flights to bring people to the city.

Hope is that the casinos here start generating serious revenue. The city certainly needs it. If all goes well, we may see the casinos in New Jersey open back up earlier than some people initially expected.

Do you think it’s time for the casinos in NJ to reopen? Let us know in the comments section below.

New Jersey Casino Bills Are Still Being Discussed

New Jersey, and Atlantic City, in particular, is home to a large and successful casino industry. Years ago, lawmakers presented plans to allow more gambling venues to open in the state. Recently, state officials have begun looking at several New Jersey casino bills once again.New Jersey

Some feel that adding new casinos will help to bring the state significantly more revenue. Others worry about the impact it will have on Atlantic City. Let’s take a look at what exactly may be changing here.

Coronavirus Has Officially Hit New Jersey

There are many different gambling venues in New Jersey. Most consider this state the second-largest gambling hub in the country. Today, news broke that two cases of the coronavirus have been confirmed here.

It’s unclear exactly how many people in the US have already been infected with this virus. Estimates list it at around 200. Most feel the true number is significantly higher.

New York has already recorded several cases of the coronavirus. New Jersey now has several of its own. The second was confirmed to be a patient in his 30s. It’s unclear whether or not he managed to spread the virus to others.

Some worry about this virus hitting Atlantic City. Here, thousands of people are crammed inside massive casinos. These gambling venues are ideal places for the virus to spread from person to person.

This virus has the potential to significantly damage a state’s casino industry. Several major Las Vegas casino companies are already seeing their stock prices fall after reports of a coronavirus infection in Clark County. We’ll be monitoring the situation in New Jersey and reporting on how quickly it spreads.

Lawmakers Take Another Look at New Jersey Casino Bills

Back in 2016, several New Jersey politicians presented a bill that would allow for new gambling venues to be constructed outside of Atlantic City. The plan was to allow casinos in the suburbs near the border with New York. Some felt it would help to draw in most tourists.

Interestingly, lawmakers unanimously voted to reject these plans. Many felt this would take away from the revenue that Atlantic City earns. AC relies heavily on its gambling industry for money.

In January, another set of New Jersey casino bills was introduced that once again calls for the legalization of casinos outside of Atlantic City. Lawmakers are looking at this bill and feel it may be a way to prepare in case Atlantic City suffers some type of breakdown.

Ralph Caputo, a former casino executive in New Jersey, spoke about the bills to the media this week.

“We want to see Atlantic City succeed,” he said. “These bills are in case Atlantic City gets into trouble. The signal it sends is that we’re watching carefully to see if we need to act on this. But not at this time; I want to make that clear.”

The Casino Association of New Jersey still opposes these plans. It remains to be seen whether or not the plans will be approved.

Esports Betting Starts to Take Off in New Jersey

The popularity of Esports betting has taken off in recent years. This is especially true with younger people who enjoy watching video game streams through platforms like Twitch. Recently, lawmakers in New Jersey presented plans to start regulating Esports gambling.

This has been a long time coming. Many have asked state officials to present bills to allow Esports wagering, arguing that the revenue it earns the state would be massive. Now, this form of sports betting will be allowed during tournaments not involving minors.

The aforementioned Ralph Caputo commented on this decision, as well.

“This is the next big thing in gaming,” he said. “We want to be ahead of the curve on this. The millennial generation is into this in a major way.”

Esports betting is expected to be a massive success here. Soon, sportsbooks across the state will start offering odds on this new industry. We’ll get revenue reports on this industry soon.

The New Jersey casino bills are still being discussed by lawmakers. We’ll get a better idea as to how the state views these plans over the next few months.

It’s an interesting time in the state’s gambling industry. Stay tuned for updates over the next few months!