Gadget Gaming News

Sports Bettors Stake Over £750 Million in New Jersey in a Month – This Is How Tech Helped

Gambling in the US is reaching new heights, but not many people predicted betting stakes would hit a billion dollars in a single month. However, that’s what happened in New Jersey in September. For context, it’s equivalent to £750 million. Although evolving attitudes undoubtedly played their parts, New Jersey’s burgeoning wagering scene is a triumph for technology. Without the latest advancements, breaking the record wouldn’t have been possible.  

The Internet Bringing Punters & Providers Closer  

The role of the internet is integral, especially in the gambling world, which is an industry that has been revolutionised by the Web. New Jersey is no different as 90% of bets were placed online, which is reflective of betting habits worldwide. For example, 33% of UK gamblers use mobile and web apps compared to 6% who travel to betting shops. Of course, these percentages are expected when people can place bets from home. A direct knock-on effect is that platforms appeal to wider demographics, due to the increased accessibility digitisation brings. Plus, research from the UK shows people in this category – 25 to 34, specifically – also consume alternative offerings, such as online slots. In general, they are 5% more likely.

In the Garden State, this is powerful since online casinos have big presences in New Jersey, with the sector home to 23 establishments that have links to land-based organisations. A list of the best NJ casinos not only highlights these, but the bonuses and promos the market uses to engage customers, too. They range from minimum deposit to no deposit deals. Considering the relationship between the newest demographics that are gambling on sports in New Jersey, it’s clear they are being funnelled from related betting verticals, hence why the sports wagering industry is arguably the healthiest in the US currently.  

Plugging a Hole Between In-Person & Remote Gambling  

Bettors have preferences, as the above has already shown. Yet, this doesn’t mean they only want to gamble one way. Sometimes, it’s good to mix up your habits to ensure the novelty element never wears thin. In New Jersey, they have used technology to bridge the gap and maximise profits as a result, with the main example being horse racing. 

In September, NJ casinos and racetracks netted $61 million in revenue by offering in-person and online betting. At the Meadowlands Racetrack, NJ, for instance, the course teams up with pari-mutuel brands like TVG to ensure that ‘The ‘Big M’ can also satisfy the demand for off-track horse racing betting. Meadowlands is one of several racetracks in the Garden State that do the same thing, which explains why the market’s revenues contribute a considerable amount to New Jersey’s September revenues. In comparison, American football, which doesn’t have the same relationship with bookmakers, only contributed a total of $7.65 million. Therefore, the strategy is successful, and remote tech is at the heart of the policy.  

Technology is continuing to push industries forwards in ways they never imagined were possible. New Jersey’s September revenues for sports bets is the perfect example of this. 

Nov 23, 2021Chris Price

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