New Jersey businesses get $16M in sports bets in 1st 2 weeks

This June 14, 2018 photo shows staff at Monmouth Park racetrack in Oceanport N.J. preparing to begin taking sports bets moments before it became legal

This June 14, 2018 photo shows the odds on the 2018 baseball World Series on a video board at Monmouth Park racetrack in Oceanport N.J. moments before

OCEANPORT, N.J. (AP) — Two casinos and a racetrack in New Jersey took in $16.4 million in sports bets during the first two weeks such wagers were legal in the state.

Figures released Thursday by the state Division of Gaming Enforcement show the Borgata, Ocean Resort and Monmouth Park racetrack saw gross sports betting revenue of nearly $3.5 million on those bets.

Regulators caution that bets involving future outcomes, such as the winner of baseball's World Series or football's Super Bowl, won't be paid out for months.

The casinos and the track are the only places legally taking sports bets right now. Of completed events that were the subject of betting, they retained 7.8 percent of the amount wagered, or about $1.2 million.

The report covers only the period from when sports betting began on June 14 through the end of the month.