A record $6.0 billion was bet with New Jersey sportsbooks in 2020, according to revenue numbers released Wednesday by the state's Division of Gaming Enforcement.
The $6.0 billion is the most ever wagered in a year for a state with a regulated sports betting market, eclipsing the previous high of $5.3 billion that was bet with Nevada sportsbooks in 2019.
The amount wagered in 2020 with New Jersey books was up 33% year-over-year, despite the coronavirus pandemic that shut down casinos and caused essentially all major sports to suspend play last spring.
Bettors in New Jersey not only staked more, but they also lost more -- $393.2 million -- than in any previous year in any state.
Football (college and professional) attracted the most money wagered, with $1.4 billion staked in New Jersey in 2020. The sportsbooks won a net $55 million off football bets. Basketball was close behind, with bettors wagering $1.1 billion on college and professional hoops.
New Jersey was among the first states to launch a regulated sports betting market after a May 2018 ruling from the U.S. Supreme Court. The decision invalidated the Professional and Amateur Sports Protection Act of 1992, which had restricted regulated sports betting to primarily Nevada.
Legal sportsbooks are operating in 19 states and the District of Columbia, with another wave of jurisdictions expected to launch in 2021 and some giant players like New York and Texas eyeing sports betting legislation this year.
For now, New Jersey has surpassed Nevada and owns the largest sports betting market in the United States, thanks in part to the Garden State's robust online betting. Nearly 92% of the money bet with New Jersey sportsbooks in 2020 was transacted online.
Gambling industry trade publication VIXIO Gambling Compliance forecasts that the U.S. sports betting market could generate upward of $10 billion in annual revenue by 2025.