New Jersey businesses get $16M in sports bets in 1st 2 weeks

Posted: Updated:
OCEANPORT -

(AP) - Two casinos and a racetrack in New Jersey took in $16.4 million in sports bets during the first two weeks such wagers were legal in the state.

Figures released Thursday by the state Division of Gaming Enforcement show the Borgata, Ocean Resort and Monmouth Park racetrack saw gross sports betting revenue of nearly $3.5 million on those bets.

Regulators caution that bets involving future outcomes, such as the winner of baseball's World Series or football's Super Bowl, won't be paid out for months.

The casinos and the track are the only places legally taking sports bets right now. Of completed events that were the subject of betting, they retained 7.8 percent of the amount wagered, or about $1.2 million.

The report covers only the period from when sports betting began on June 14 through the end of the month.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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