New Jersey sports betting made history back in 2018 when the U.S. Supreme Court overturned legislation that had previously banned the industry. Since then, nearly half the country has legalized some form of sports gambling.
New Jersey residents currently have access to several options, including NFL betting. But on November 2nd, New Jersey residents will vote on an expansion of in-state betting to include college sports played in the state.
Will the ballot pass? Let’s take a closer look.
N.J. Sports Betting
One of the primary benefits of New Jersey sports betting is the burgeoning revenue it brings in for the state. In 2020, sportsbooks in New Jersey took in a record $6 billion in bets.
Nearly $1 billion in wagers came in December alone.
It came at the perfect time, just when the coronavirus pandemic had halted sports around the world. As the cash-strapped state (one of the most indebted in the U.S.) continued to deal with the economic aftermath of a pandemic, the gambling industry soared to new heights.
December was the fifth month in a row that New Jersey sports betting had record betting income. Revenue for the industry in the state rose to almost $64.5 million, just over 125% from the previous year.
Now that the NFL season is back in full force and ratings are up this year, the growth of the sports betting industry is expected to continue for the foreseeable future.
What do the citizens think about expanding sports betting to include New Jersey teams or college games played within the state?
Will New Jersey Expand Betting to College Sports in the State?
Sports betting in America is going through an expansionary era that is truly historic. Other states debating sports wagering include Georgia, Florida, and California. In 2018, New Jersey set a trend that is here to stay.
A recent poll conducted by Stockton University (a New Jersey state school), released on September 29th, showed that 45% of respondents were not in favor of the constitutional amendment to allow sports betting on college sports in the state or on New Jersey university teams.
Forty percent were in favor of the proposal, while 14% were undecided.
Reportedly, that poll represented a 15% increase among those who supported the amendment.
So, whether the ballot passes on November 2nd seems inevitable.
It might be that elderly voters are wary of a new industry that’s seen tremendously explosive growth in such a short time.
New Jersey lawmakers who support sports betting see a big opportunity for gambling revenue, especially for an upcoming NCAA East Regional tournament for men’s basketball in Newark in 2025.
It’s possible that the ballot doesn’t pass this year. But once there’s a promise of new revenue, you can guarantee the messaging and lobbying efforts will undoubtedly increase.
Times are changing, and New Jersey sports betting will continue to lead the way.
New Jersey Online Sports Betting
One of the easiest ways to engage with New Jersey sports betting comes from online wagering. Perhaps the current pandemic, which shifted the economy toward the digital realm, has altered the gambling industry forever.
Although the ballot to expand betting on New Jersey university teams or college games in the state might not pass this year, you can still place all your other wagers through BetMGM’s New Jersey sportsbook. Create your account today.