New Jersey now has the biggest and most lucrative sports gambling market in the United States. Casinos here, almost all of which are located in Atlantic City, operate both land-based and online sportsbooks. This week, Parx Casino officially launched an internet sports betting platform in this state.
Parx Casino is one of the most popular gambling venues in Pennsylvania. It’s now entering the NJ sports gambling market. Let’s look at the details of this new online sportsbook and talk about how New Jersey’s sports betting industry is doing right now.
New Jersey’s Sports Betting Revenue Continues to Increase
As we’ve already mentioned, New Jersey now has the most lucrative sports betting market in the country. Amazingly, sports gambling has only been legal and regulated here for a little over a year. New Jersey was the first state to approve sports betting legislation after PASPA was struck down in May of 2018.
For all of 2019, revenue from sports gambling has increased in this state. In August, revenue here boosted by an incredible 13% compared to the same month last year. Gamblers in this state wagered over $293 million that month on sports alone.
The Borgata Hotel & Casino brought in $80 million through its land-based and online sportsbooks. Casino officials claim it was the biggest month since opening in 2004. Hard Rock Atlantic City also had a solid August, bringing in $41 million, up 31% from the same month in 2018.
Even Ocean Casino, which is the lowest-earning casino in Atlantic City, posted solid revenue figures last month. This casino-resort brought in more than $25 million.
Many companies are taking notice of these revenue gains. This week, one of the most popular gambling venues in Pennsylvania announced that it’s breaking into the NJ market.
Parx Casino Announces Launch of NJ Online Sportsbook
New Jersey isn’t the only state to recently legalize sports gambling. 19 states have approved sports betting legislation and 13 have sports gambling platforms up and running. Pennsylvania began offering sports betting options in November of 2018. This form of gambling has quickly grown popular here.
This week, Parx Casino has announced that it’s breaking into the New Jersey sports betting market. This casino, which is owned by Greenwood Gaming & Entertainment, officially launched its internet sportsbook in this state. This new betting platform is now live and available to New Jersey residents.
Parx Casino teamed up with GAN to begin operating its newest online sportsbook. Dan Smurtif, CEO of GAN, commented on the launch to the media this week.
“Launching the largest casino in Pennsylvania online has now logically extended across the border into New Jersey, extending their reach into New Jersey’s fast-growing and established Internet gambling market. This represents an incremental revenue opportunity for GAN and is a logical extension of our technology infrastructure to serve Parx Casino patrons who routinely cross the invisible border between these two populous states.”
It’s exciting news for sports betting fans in the state of New Jersey. There is another major player entering the market.
About Parx Casino and Racing
Pennsylvania is home to a huge number of gambling venues. Perhaps none is as popular as Parx Casino and Racing, located in Bensalem. This venue started off as a horse racing track and has since begun operating a casino featuring 3,330 slot machines, 180 table games, and a poker room.
Parx Casino began operating a land-based sportsbook back in January. It launched its online sportsbook in June. Since that time, it’s become the most popular internet gambling platform in the state. In August, it managed to generate more than $621,000 in sports wagers.
Officials at this casino have discussed plans to break into the New Jersey market for months. The company teamed up with GAN to officially begin offering sports betting options in this state earlier this year.
Residents of New Jersey now have 16 different online sports betting platforms to choose from. We’ll need to wait and see how popular the online sportsbooks from Parx becomes over the next few months.
Stay tuned for more US sports betting news over the next few months!