Nevada and New Jersey Carrying Most Of The US Sports Betting Market

• The first sportsbook in New Jersey was launched in June of 2018.
• Nevada and New Jersey combined to account for 88% of the nation’s total handle in March.
• Online sports betting in New Jersey accounts for about 80% of all wagers made in the state.

ATLANTIC CITY, N.J. – The U.S. sports betting market is seen by most to be in its infant stage. There are currently only eight states with active sportsbooks. There are six other states that are pending to launch their sports gambling operations.

Although, it will be hard for any state to compete with the amount of sports betting occurring in either Nevada or New Jersey.

In a recent report conducted by Eilers & Krejcik Gaming, LLC, those states combined to generate 88% of the total US sports betting handle in the month of March. That total handle was approximately $1.09 billion, which was a 22.53% increase from the month of February.

The biggest factor attributing to these state’s success is mostly in part to Nevada’s seniority in the industry and New Jersey’s full embrace of online and mobile sports betting.

As part of the report’s findings, 80% of all sports bets made in New Jersey were made either online or through mobile devices like smartphones.

Other states have looked to this model as a means to capitalize on the sports betting market within their state.

Pennsylvania, who legalized mobile sports wagering a year ago, is set to launch its first betting app sometime this summer.

Other state’s who legalized sports betting this year, including Montana, Indiana, Iowa, and Tennessee, also signed off on mobile wagering when passing their respective bills.

Rhode Island, who has been seen to miss previous revenue estimations from their sportsbooks, has also recently passed legislation that would allow for statewide mobile betting.

U.S. sports betting is expected to expand in the coming years as well. According to a poll conducted by the American Gaming Association, 8-in-10 Americans support legalizing this type of gaming in their state.

This is a big reason why 38 states had at least one bill on file during their legislative session this year.

Some of the biggest issues stopping the bills from passing are either restrictions in a state constitution, existing tribal gaming compacts, or balancing the needs of various stakeholders.

While other states battle over those factors, New Jersey Sports Betting as well as Nevada will presumably continue to carry the torch for all sports gambling in America.

News tags: Eilers & Krejcik | Nevada | New Jersey