What to Know

• Another month, another sports betting record in New Jersey. The state's gamblers wagered more than $931 million on sports in November, the latest in a string of monthly records set by a rapidly growing market that’s closing in on the $1 billion-a-month mark.
• It was the fourth month in a row that New Jersey set such a record.
• Atlantic City’s casinos, the three horse tracks that offer sports betting, and the state’s robust internet gambling industry saw nearly $289 million in revenue in November, a figure that does not include money bet on horses.

New Jersey gamblers wagered more than $931 million on sports in November, the latest in a string of monthly records set by a rapidly growing market that's closing in on the $1 billion-a-month mark.

Maintain a betting record intended for personal as well as tax purposes. If you love to bet then it is crucial for you to retain control while wagering and it is indeed important to maintain a gambling record for private and tax requirements. You will now have the ability to study around the amount spent on having a good time. Unless you have a phenomenally good memory with which to store and recall such information, you should keep detailed betting records. Initially, you should record as much information as possible; you can always discard superfluous information in future versions of your records. Some suggested items that you record are: Date and time of bet.

Betting Record Book

Warren Sharp has got you covered with betting recommendations across the NFL Playoffs & the Super Bowl, tallying a 15-year NFL playoff record of 142-84 (63%) and 21-10 (68%) in the Super Bowl.

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Figures released Monday by the state Division of Gaming Enforcement show New Jersey's sports betting industry set a national record for the most money bet on sports in a month for the fourth consecutive month.

It easily surpassed the $803 million that New Jersey gamblers bet on sports in October.

Atlantic City's casinos, the three horse tracks that offer sports betting, and the state's robust internet gambling industry saw nearly $289 million in revenue in November, a figure that does not include money bet on horses.

That represented a 5.6% decline from November 2019, before the coronavirus pandemic, when casinos were operating without restrictions. The nine casinos are currently operating at just 25% of capacity and must stop serving food and drinks at 10 p.m. under state mandates designed to help slow the spread of the virus.

“The resurging public health crisis drove down business in Atlantic City during November,” said James Plousis, chairman of the New Jersey Casino Control Commission. “I applaud all of the properties for their continued diligence in adhering to the Governor’s mitigation directives for the safety of their employees and guests. As I regularly tour the properties, I’ve been pleased to see the continuing efforts that are being taken to maintain a clean and safe environment.”

The in-person casinos are seeing their revenue fall significantly amid the restrictions. Revenue from slot machines and table games inside the nine casinos was $146.5 million in November, down nearly 35% from a year earlier.

Hard Rock was up more than 32% to $34.6 million. The Ocean Casino Resort was up 5.2% to $23.7 million.

Declines ranged from 3.2% at Golden Nugget ($35.1 million) to nearly 55% at Caesars ($12.8 million.)

Internet gambling continued to be a bright spot for Atlantic City's casinos, providing nearly $92 million in revenue in November, an increase of nearly 87% from a year ago. Without that money the casinos' finances would have been hit even harder.

Online gambling has continues to grow in New Jersey and elsewhere during the pandemic as some gamblers prefer to take their chances from a phone or laptop rather than in person.

Two internet-only entities saw steep revenue gains in November. Resorts Digital was up 77% to $35.6 million, and Caesars Interactive-NJ was up nearly 76% to $8 million.

Despite the gaudy numbers, very little of the $931 million taken in by the casinos and tracks — called “handle” — represented profit. After sports books paid off winning bets and related expenses, those millions worth of bets generated $50.5 million in revenue for the sports books in November.

About half of that went to the Meadowlands Racetrack in East Rutherford, near New York City, which saw $24.8 million in sports betting revenue for the month. It is affiliated with FanDuel for sports betting. Resorts Digital, which partners with DraftKings, saw $14.6 million.

Monmouth Park Racetrack in Oceanport, near the Jersey Shore, saw $3.1 million in sports betting revenue, and the newest entry into the market, Freehold Raceway, reported nearly $144,000 in revenue in November. It has yet to launch its online sports betting operation in New Jersey; more than 80% of all sports betting is done online in New Jersey.

If you love to bet then it is crucial for you to retain control while wagering and it is indeed important to maintain a gambling record for private and tax requirements. You will now have the ability to study around the amount spent on having a good time whilst betting even while you analyze your own winnings as well as compute the sum of tax you need to shell out on your own winnings.

Even though gambling is obviously enjoyable, you should make sure to keep track of your money invested in satisfying your quest for winning that elusive-yet-achievable jackpot. You ought to remember to gamble at land-based casinos or even online casinos merely using funds you have to spare. However, in order to remain in control of yourself and to avoid becoming hooked on betting you need to maintain a precise chart which shows funds that you have placed into each and every bet, the outcome of that bet, and also the quantity won towards that bet.

This tactic ought to be used irrespective of whether you like actively playing on-line poker, lotto, blackjack, or even love playing craps, roulette betting or simply just love the actual sound associated with slots tossing away digital cool coins. You should also monitor your hard earned money in the event you like online sports betting and also have opened accounts with various sportsbooks. You need not become a computer geek to maintain an in depth record because you can actually create a report in Excel or simply down load any free software program available on the internet to maintain close tabs on your revenue and also expenses related to betting.

Along with sustaining a proper gambling report for your individual satisfaction, additionally, you will need to keep a report for tax requirements. You may certainly have to pay taxes for all profits obtained through gambling be it received in cash, via your bank account or even in kind, like getting a vehicle as well as other types of products. You can even get deductions in taxes when you have made any losses while betting. You will have to fill appropriate tax forms as well as seek advice from your tax consultant so that you remain on the right side of your countrys tax agency.

If you are interested in on-line sports gambling then you might also observe a few betting websites offering numerous kinds of betting reports that assure to enhance your chances of winning. You should, nevertheless, use such reports with care given that most kinds of gambling are usually dependent solely upon good luck and also this is one factor that absolutely no report can alter or even control. However, keeping accounting control on your enthusiasm with regard to betting is essential since it will also help you identify games, sports, and betting sites which have compensated you back again handsomely and avoid non-paying ones.

Betting is definitely a fun way to spend your own free time and also generate a lot of money if you have the required luck sprinkled with all the correct betting capabilities. Even so, so as to make certain you maintain total control while playing on land-based casinos or in on-line betting casinos, it is important that you preserve a report that provides you with comprehensive data of your respective financial situation at your fingertips. You need to thus make it your top priority to keep a betting report for personal and tax purposes so that you don’t end up diverting money from other expenditures straight into your gambling accounts or even run afoul of the tax agency of your respective country.