New Jersey sports betting market closing in on $1B mark

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ATLANTIC CITY, N.J. — New Jersey’s sports betting market is closing in on the $1 billion dollar mark after less than six months of operation.

Figures released Wednesday by the state Division of Gaming Enforcement show New Jersey’s casino and racetrack-based sports books took in over $330 million worth of bets in November.

Gamblers in the state have plunked down $928 million on sports events since sports betting began in mid-June.

The $21.2 million that sports books kept from that money, along with another strong month of internet gambling, helped Atlantic City’s casinos post an increase of nearly 25 percent in gambling revenue in November, compared with a year ago.

The casinos won $257 million from gamblers in November.

There are two more casinos operating this November than there were a year ago.