Sports Betting on Basketball is King in New Jersey

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Sports betting
photo via: The Basketball Tournament

New Jersey Sports betting has been a driving force since in-person and online sports betting became legal in 2018. 

New Jersey sports betting revenue stands at more than $189 million, with sportsbooks posting a win percentage around 7.4%. 

Moreover, NCAA’s March Madness accounted for more than $434 million for the month of March.

According to NJ.com, a panel of experts predicted in 2019 that 90% of sports betting in the United States will be done over mobile phones or the internet in the next five to 10 years.

NJ.com notes that in the state of New Jersey, the largest sports betting market in the nation, 92% of bets last year were made online.

Here’s how much New Jersey generates via betting:

  • Basketball: $1.087 billion
  • Football: $269 million
  • Baseball: $4.5 million
  • Other sports (golf, hockey. etc:) $641 million
  • Parlays: $560 million

That’s a big deal! 

Sports betting is the future. New Jersey has been enjoying steady growth since its launch in June 2018. 

After recording more than $4.5 billion wagered in 2019 – the first full calendar year of legal betting – New Jersey finished 2020 with the highest total handle in America with over $6 billion in wagers placed. This is a full 28 percent of the entire annual US sports betting handle in one state.

With tons of revenue to spread, sports entertainers and sports personalities are joining the fold. 

Rap artist, Jadakiss who has recorded with everyone from the late Notorious B.I.G., and DMX to living legends in Jay-Z and Puff Daddy, the Yonkers, NY native is an avid sports fan. The LOX group member, recently began hosting a podcast with retired New Jersey Nets big man, Kenyon Martin via the Basketball News Network. Jadakiss has also partnered with MyBookie and given his followers on Instagram his promocode to place bets before big games. 

“The madness is real,” Jadakiss said in a recent post on the gram.

“It’s that simple. 

“Get you some money. The weather is breaking. You know you gotta get you an AC or something. Fix your central air.” 

Porn star legend, turned Sirius/XM radio host, Lisa Ann joined in on the sports betting craze. She partnered with Bovada where she tweets odds and hosts a multitude of branded content on Instagram for the company. 

She also hosts an Instagram Live show every Thursday at 5 PM with NBA Insider and hoops historian, Brandon ‘Scoop B’ Robinson, a long-time friend of Basketball Society Online. 

“Sports betting is the in thing,” Scoop B, an alum of Ramsey, New Jersey’s Don Bosco Prep High School tells Basketball Society. 

“From hot takes to crypto, it seems that this is one stop shop.”

While New Jersey is king in sports betting, across the water, New York state is joining in the fun according to a recent report via The Action Network’s Darren Rovell who shared that NY Gov. Andrew Cuomo has signed a bill that will bring mobile sports betting to New York.

Per Rovell: NY state senator Joe Addabbo estimates that first bets will come in before the end of 2021 and will be fully functional by the Super Bowl.

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