Welcome to New Jersey, the New Sports Betting Capital
Who would have thought that the legalization of sports betting in New Jersey would cause such economical geographic shifts? New Jersey, with its many possibilities for sports betting, tax advantages and favorable market conditions is now the go-to place for New Yorkers to place their bets. They just cross the Hudson to the Hoboken train station terminal and log into the New Jersey sportsbook apps to put their money on their favorable team. But it’s not just New York sports bettors who see their neighbouring state on the rise, Las Vegas also perceives a shift from Nevada to New Jersey as the new sports betting mecca.
New Jersey overtakes New York and Las Vegas Sports Betting
In this news article, we will inform you:
- Why New Yorkers favor New Jersey for sports betting
- How the NFL influences this sudden change
- How Las Vegas is bound to be overtaken by New Jersey as the new sports betting capital
Why is New Jersey suddenly so attractive for sports betting?
Sports betting is legal in both New York and New Jersey, however, over the past few months many New Yorkers made the journey across the Hudson to their neighbouring state of New Jersey to place their bets. How come?
- Online versus offline sports betting
First of all, New Jersey allows anyone located within their state borders to place bets online. In the past month, sportsbooks saw a crazy rise in revenue of which 85.5% came from online and mobile bets. In New York, however, sports bettors are only allowed to place bets inside their bricks-and-mortar casinos and racetracks. The state has been reluctant to approve online bets placed through phone apps. In New Jersey it’s a different story, all you have to be is 21 and you’re good to go. New Yorkers have tried to escape their strict state rules by use of VPN and in many other ways, but nothing has worked.
- New Jersey has a very accurate app to verify bettors geographic location
The New Jersey Division of Gaming Enforcement developed an app called GeoComply, which is so highly accurate that (according to the company) can locate a person within a few meters. This basically means that there is simply no other way for New Yorkers to place online bets than to cross state borders. Hoboken train terminal is pretty much the closest and most convenient place for New Yorkers to arrive at. So that’s why this particular place is now a hot-spot for online sports betting.
- The closest casino for New York is 60 miles away from NYC
Well, this fact speaks for itself. Even if you were to place a bet in a bricks-and-mortar NY casino, the closest casino is still 60 miles away from the city. So why even bother? New Jersey is much closer.
- New York is still awaiting the start of a study on mobile sports betting
Some lawmakers got together and wanted to get a comprehensive sports betting bill passed for New York. However, they failed to get the bill through. They did manage to commission a study on mobile sports betting but New York State is still waiting for the right bidder to come forward to execute this study. It is reasoned that mobile sports betting could improve job opportunities, tax revenue and fund education. This is of course a bit of a no-brainer, but NY has a very passive attitude towards changes in gambling related issues. So in the meantime, nothing is changing and New Jersey keeps benefiting from the situation.
- The range of bets has expanded in NJ online sportsbooks
New Jersey offers bets that local bookies in New York do not like to take, such as the infamous parlay, where the sports bettor picks winners for several games. The odds on these bets are much lower, which consequently means that the pay-outs are much higher. Bookies are usually reluctant to take them, but online sportsbooks in New Jersey allow you to do a parlay up to fifteen. This is yet another reason for New Yorkers to choose NJ over their own state.
Another big factor in the success of New Jersey sports betting the past two months has been the start of the NFL. The NFL is one of the most popular leagues to bet on in the US and as the season progresses, more and more sports bettors are getting involved. Sportsbooks such as DraftKings play right into this and even go as far as organizing legitimate events with famous NFL players just outside of Hoboken terminal. Baseball and basketball currently account for the most betting revenue, but it is estimated that football will take the lead as we progress towards the end of the year, pushing sports betting revenue for New Jersey even further up.
And it’s not only New Yorkers who cross state borders to place mobile bets. Sports bettors from Pennsylvania also discovered New Jersey as the new sports betting mecca. Not only is mobile betting attracting them, but also more favorable market conditions such as tax advantages. New Jersey only charges 13% taxes on mobile bets compared to 34% in Pennsylvania.
Is New Jersey overtaking Las Vegas as sports betting capital?
Las Vegas, Nevada has been the gambling capital of the US for such a long time, but with all the recent changes it seems that those days might soon become part of the past. In both last May and July New Jersey totaled more in sports bets than Nevada. It is expected that this trend will continue. New Jersey legalized sports betting last June and since then the amount of sportsbook sites doubled and new platforms are launching and improving as we speak. On top of that, New Jersey has three times as many residents as Nevada, not including the influx from New York. Experts say that it is undeniable that New Jersey will overtake Las Vegas as the leading sports betting state, maybe even during this NFL season.
New Jersey sports betting FAQ
- Where can I find the best online sportsbooks for NFL games?
New Jersey sportsbooks are offering the best odds for NFL games, navigate to our online sportsbook reviews or toplist to pick the best current online sportsbook for New Jersey bettors.
- How do I know if a NJ sportsbook is safe and reliable?
Always check for an official license when you visit a NJ online sportsbook. If you want to know more about safety and security in detail, read our online reviews. We will always discuss these very important factors in depth.
- Where can I read more news on New Jersey sports betting?
Just stay tuned and check with our website regularly. Here, we upload news, blogs, tips and other interesting articles relevant to NJ sports betting.