from Bloomberg via Yahoo! Finance

Move Over, Nevada: New Jersey Is Now the Sports-Betting King

by Eben Novy-Williams

(Bloomberg) — New Jersey legalized sports betting a year ago, and last month the state’s operators passed a major milestone.

For the first time, sports bettors wagered more in New Jersey than in Nevada, which for decades was the lone, dominant state in the sports-betting landscape.

Gamblers wagered $318.9 million in May at New Jersey casinos and racetracks, and via mobile apps, according to the state’s Division of Gaming Enforcement. On Thursday, the Nevada Gaming Control Board said the state’s total for the month was $317.5 million.

The milestone continues a trend expected in the industry for a few months now. Not only does New Jersey have a lot more people than Nevada, but it benefits from customers coming from New York and Pennsylvania to wager remotely. The mobile options in New Jersey also feature better technology, which helps drive betting.

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