Houghtaling and Downey Respond To Sports Betting Revenues

In response to the release of the most recent sports betting revenues, Assembly Members Eric Houghtaling and Joann Downey issued the following statements:

“We initially fought to legalize sports betting here in New Jersey because we knew what a positive impact it would have on our economy,” said Assemblyman Eric Houghtaling. “These revenue reports prove that our instinct was correct. We are thrilled to see sports betting making such a positive impact on our local racetracks and we look forward to the continued success of our horse racing industry.”

“The horse racing industry is absolutely vital to our economy. Not only do these tracks generate significant revenues, but they also employ thousands of residents through direct and indirect jobs,” said Assemblywoman Joann Downey. “These recent revenue reports show that New Jersey made the right choice in legalizing sports betting at our race tracks. We are seeing influxes in revenue while securing jobs for our residents. It’s a major win for everyone.”

Figures released Friday, Oct. 12 by the state Division of Gaming Enforcement show nearly $184 million was bet on sports in New Jersey in September, up from nearly $96 million in August.

Since it was legalized in mid-June, sports betting has attracted over $336 million in bets in New Jersey. The industry in New Jersey has been keeping just under 8 percent of the amount bet as earnings after winning bets are paid out.

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