Sports betting revenue for the state of New Jersey fell to $11.7 million in October, a 51 percent decline from September, when casinos and racetracks contributed $24 million. The plunge for the Garden State’s government pockets can be attributed to a simple twist of bad luck.
Sports bettors wagered a total of $260.7 million in October, which accounts for a $76.8 million (41.8 percent) increase compared to September, according to a report released Thursday by the New Jersey Division of Gaming Enforcement. New Jersey’s 10 licensed bookmakers took home just 4.5 percent of the money wagered in October, compared to 13 percent of money in September according to the Philadelphia Inquirer.