Asbury Park Press
The numbers are in, and New Jersey has officially climbed to the top of the sports betting industry, knocking perennial leader Nevada out of the No. 1 spot for 2020.
Even though New Jersey was late to the game – the first legal bet here wasn’t placed until June 14, 2018 – the state’s total handle of just over $6 billion in 2020 blew away Nevada, where $4.3 billion was bet according to figures released by the Nevada Gaming Control Board on Thursday.
New Jersey’s sports betting jumped from $4.58 billion in 2019 despite the COVID-19 pandemic shutting down much of the sports world for several months.
But while New Jersey, led by the FanDuel Sportsbook at the Meadowlands Racetrack, with gross revenues of $206.5 million in 2020, has made great strides, there’s work to be done when it comes to the most important sporting event of the year.
According to legalsportsreport.com, Nevada led the way last year in Super Bowl betting, taking in $154.7 million, compared to just $54.2 million in New Jersey. And while Nevada had a positive hold of 12.1 percent, for revenue of $18.8 million, New Jersey lost $4.3 million on the Kansas City Chiefs’ 31-20 win over the San Francisco 49ers in Super Bowl LIV.
Now the Chiefs are back, taking on Tom Brady and the Tampa Bay Bucs on their home turf at Raymond James Stadium in Tampa on Feb. 7, with the Chiefs installed as the early 3.5-point favorite.
So the next two weeks are important ones for Garden State racetracks and casinos, as they try to close the gap on Nevada when it comes to the crown jewel of sports betting.
This article originally appeared on Asbury Park Press: As Super Bowl betting takes place, New Jersey is the new No. 1 in sports betting, beating Nevada.