November saw New Jersey chalk up record sportsbetting handle and revenues and it would now seem that a large proportion of this business came from online punters briefly travelling in from the neighboring state of New York.
According to a Monday report from the Bloomberg news service, New Jersey launched legalized sports wagering in June of 2018 and has since gone on to accept over $4 billion in bets with approximately 80% of these being placed over the Internet often utilizing mobile devices.
Bloomberg reported that this practice is definitely popular with sportsbetting aficionados in New York as a large number are regularly seen using local commuter trains to travel the relatively short distance across the Hudson River to the New Jersey cities of Hoboken, Newark and Jersey City. The news service explained that such trips subsequently allow these punters to satisfy geolocation software and legally lodge wagers on a wide range of sporting events and outcomes using their smartphones.
Gibraltar-headquartered online sportsbetting firm, 888 Holdings, has an office in the New Jersey community of Secaucus and it reportedly told the news service that its largest markets in the eastern state encompass cities that often serve as gateways for those working in Manhattan. The firm’s Yaniv Sherman explained that a lot of this business is down to New Yorkers briefly travelling into ‘The Garden State’ in order to place bets using a mobile device before returning home.
Sherman reportedly declared…
“On Saturday and Sunday, you see those locations light up. People are coming in to place bets and traveling back to the city.”
Bloomberg reported that commuter trains and buses running between New Jersey and New York are replete with placards advertising sportsbetting services from firms such as William Hill, Kindred Group and MGM Resorts International while operators PointsBet Holdings Proprietary Limited and DraftKings Incorporated have recently opened local offices in the cities of Jersey City and Hoboken respectively.
The news service detailed that the FanDuel brand from Irish innovator Flutter Entertainment is New Jersey’s largest provider of sports wagering services while the Dublin-headquartered firm is purported to have recently revealed that about 22% of its mobile business in the state originates from punters who reside in New York. The company even reportedly runs weekend shuttles from Manhattan’s Port Authority Bus Terminal to its land-based sportsbook at Meadowlands Racetrack, which is a move that has helped the Bergen County venue to become the most profitable American facility of its kind outside of Nevada.
However, Bloomberg reported that this arrangement could soon be about to change as New York legislators are currently considering whether their state should become the latest to legalize online sportsbetting. James Kilsby from Gambling Compliance purportedly pronounced that mobile sports wagering could come to ‘The Empire State’ as soon as 2022 while Sherman is said to have revealed that the November launch of online sportsbetting in Pennsylvania has led to a subsequent drop in associated business from punters living on the other side of the Delaware River.