Oct 16, 2020 - Sports

New Jersey is America's new sports betting capital

Kendall Baker, author of Sports
Data: Legal Sports Report; Chart: Andrew Witherspoon/Axios

New Jersey's sports betting market shattered its own national record in September, taking in nearly $749 million in bets.

By the numbers: Online bets accounted for 90.7% of September's handle ($678.7 million). FanDuel Sportsbook/PointsBet topped the market with $25.1 million in gross revenue.

The state now holds two of the five largest handle months in legal U.S. sports betting history:

  1. New Jersey: $748.6 million (September 2020)
  2. New Jersey: $667.9 million (August 2020)
  3. Nevada: $614.1 million (November 2019)
  4. Nevada: $596.7 million (March 2019)
  5. Nevada: $581.0 million (November 2018)

The big picture: New Jersey was the third state to legalize widespread sports betting after the repeal of PASPA in May 2018. Since then, it has accepted over $9 billion in wagers, yielding over $68 million in tax revenue for the state.

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Rebecca Falconer
Oct 20, 2020 - World

Argentina becomes 5th country to report 1 million coronavirus cases

High school students at an improvised classroom in the yard of their school in Buenos Aires, Argentina, on Oct. 13. Photo: Juan Mabromata/AFP via Getty Images

Argentina's health ministry reported 12,982 new coronavirus cases Monday night, taking the country's total to 1,002,662.

Why it matters: Argentina is the fifth country to surpass 1 million COVID-19 cases, after Russia (over 1.4 million), Brazil (more than 5.2 million), India (7.5-plus) and the U.S. (over 8.2 million), per Johns Hopkins. "It means one in every 45 Argentinians have had the virus," the Guardian notes. The country reported Monday that the virus had killed another 451 people, taking the death toll to over 26,000.

Editor's note: The headline of this story has been corrected to show Argentina passed 1 million cases not 5 million.

Hans Nichols, author of Sneak Peek
11 hours ago - Politics & Policy

Scoop: Republican super PAC raised $92 million in September

Senate Majority Leader Mitch McConnell. Photo: The Washington Post/Getty Images

The Senate Leadership Fund, a super PAC associated with Senate Majority Leader Mitch McConnell, raised more than twice as much this September as it did two years ago, according to an FEC filing that will go live Tuesday night.

By the numbers: The SLF raised $92 million in September, spent $105 million, and ended the month with $113 million cash on hand, as Republicans work to maintain their majority on Nov. 3.

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Rebecca Falconer
Updated 4 hours ago - Politics & Policy

Trump campaign reports shrinking cash haul to FEC

President Trump during a campaign rally at the Erie International Airport on Wednesday in Erie, Pa. Photo: Noah Riffe/Anadolu Agency via Getty Images

President Trump's re-election campaign had $63.1 million in the bank by the end of September after spending some $139 million that month, filings to the Federal Election Commission Tuesday night show.

Why it matters: The Trump campaign reported having $121 million in cash and $900,000 in debts the previous month. Trump's campaign and the shared Republican committees had just over $251 million at the start of October.

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