It’s been a great month for New Jersey sports betting.
The Garden State has raked in over $16.4 million in bets since June 14 — and approximately $3.5 million in revenue, according to officials.
Sportsbooks at Monmouth Park and the Borgata in Atlantic City saw a hold percentage of 7.8 percent, which is higher than Nevada’s longtime average of 5.5 percent.
“While it’s still early, we’re obviously off to a great start,” explained Joe Asher, CEO of the US branch of British bookmaking giant William Hill.
“We always knew there was a big appetite for legal sports betting during the years of litigation, and now it is being proven,” he said in a statement. “We are proud to be creating new jobs in New Jersey and bringing excitement to our customers. We can’t wait until football season.”
The state Division of Gaming Enforcement released its first revenue report on Thursday, a little less than a month after sports betting became legal. Officials were impressed with the numbers, especially since it only took them 17 days of gambling — between June 14 and June 30 — to get them.
“We are extremely pleased with our numbers,” said Dennis Drazin, president and CEO of Darby Development LLC, the company that operates Monmouth Park.
“We think they show there is a huge appetite for sports betting,” he told the Asbury Park Press. “To be generating these numbers early, and it’s not even football season yet, speaks enormously of the potential for when football season comes around. So we’re thrilled by the early numbers.”