New Jersey takes in $40.6 million in sports bets in July

ATLANTIC CITY, N.J. (AP) - New Jersey casinos and racetracks took in $40.6 million in sports bets in the first full month in which it was permitted.

Figures released Tuesday by the New Jersey Division of Gaming Enforcement show the Borgata, Ocean Resort and Bally's casinos, and the Monmouth Park and Meadowlands racetracks saw gross sports betting revenue of $3.8 million on those bets.

But regulators caution that bets involving future outcomes, such as the winner of football's Super Bowl, won't be paid out for months.

Of completed events that were the subject of betting, they retained just under 6 percent of the amount wagered.

Harrah's and Resorts casinos began offering sports bets in August.

Including all gambling revenue, the nine casinos took in $302 million in July, up 12.8 percent from a year ago.