New Jersey sports betting enjoys January boom

The New Jersey sports betting industry has recorded its best month yet, with $385.2 million wagered in January.

Even more impressive was the jump in total gaming revenue to $229.6 million – a whopping 25 per cent increase on the same period last year.

Internet gaming continues to grow at a rapid rate, with revenue up some 53 per cent to $33.6 million.

Casinos had a $177.3 million win, while sports wagering finished the month with a total gain of $18.8 million.

Of the money spent of sports, around $305 million was staked at online bookmakers.

Basketball drew the most action with a $135.6 million handle, yet it delivered only $1.7 million in profit.

American football, on the other hand, produced $7.6 million in revenue from $82 million in wagers.

This is but the latest in a series of success stories in US states that have legalised sports betting.

Rhode Island’s gambling industry has posted strong numbers every month since November last year, while Delaware, Pennsylvania and West Virginia are also reaping the benefits of boosted revenue from licence fees and betting taxes.