NJ sports betting kicked off on June 14 with two physical sportsbooks in the state.
Monmouth Park was the first to open its betting windows, followed immediately by Borgata in Atlantic City. Ocean Resort Casino opened on June 28 with a partially constructed William Hill sportsbook just a few steps off the Boardwalk.
To date, those are the three active sportsbooks in New Jersey. The fourth, the FanDuel Sportsbook at the New Meadowlands Racetrack, will open this weekend. Nearly every other casino operator in the state has expressed some level of interest in offering sports gambling.
Online sports betting is legal as of July 11, but no operators are accepting remote wagers at this point.
Every month the Division of Gaming Enforcement releases the previous month’s legal sports betting handle and revenue for each operator. “Handle” refers to the total amount wagered, while “revenue” is what’s left over after the winning tickets are paid out.
Below is a rundown of NJ sports betting revenue to date:
Last updated: July 2018.
|Operator||Handle||Revenue||Taxes Paid||YTD Total Revenue|
|Ocean Resort Casino||NA||$192,671||$16,377||$192,671|
|Monmouth Park/William Hill||NA||$2,279,166||$193,605||$2,279,166|
|Hard Rock AC||NA||$-||$-|
New Jersey uses the “cash method” of accounting, which means that transactions are reported as they occur. Futures bets, for example, are counted as revenue in the month they’re placed and written off as losses as the winning tickets are paid. Note: Handle for individual sportsbooks is not reported by the DGE.
This is different than the “accrual method” used to calculate Nevada sports betting tax liability.