The New Jersey bookie industry has hit the billion-dollar total monthly sports betting handle record for the second straight month. The sports betting handle for New Jersey bookies for October is at $1.303 billion. This is 28.9% higher than Septembers’ $1.011 billion total handle, which was the first time that any state has broken through the billion-dollar mark for monthly sports bets. $1.303 billion is now the highest monthly handle the state has ever seen, and also tops the national record in sports betting handle.
Sports betting has always been a strong industry in New Jersey, but the growth that the state has seen over the years is phenomenal. Last October 2020, the total monthly handle was $743 million, quite a high amount in handle back then. This gives us a 62.3% year-on-year increase from last year. Meanwhile, revenue is up by 2.1% from September’s $82.44 million to $84.152 million in October. Many bookies that use PricePerPlayer.com are also seeing a surge in both betting handle and revenue for the past couple of months as well.
New Jersey Bookie Industry: Online Betting is Top Platform for Players
Of course, the use of professional bookie software is a very lucrative option for those who want to make money in sports betting, large retail sportsbooks included. New Jersey is home to some of the most popular brick-and-mortar sportsbooks, casinos, and horse tracks, and yet online sports betting in the state represents 90.5% of all wagers collected in October. An astonishing $1.17 billion worth of wagers are made by New Jersey bettors through their favorite online sportsbooks.
This is also the highest record the state (and the country) has seen in monthly mobile sports betting handle. The previous record was back in December 2020, with a $929 million in mobile handle. New Jersey joins other states such as Mississippi, Iowa, Indiana and Pennsylvania, among others in breaking new records for October. Much credit goes to the playoffs of the MLB, as well as the NFL, NBA, and the NHL in full swing. Of course, for those betting markets that offer college sports betting, this is also a large source of wagers for October, and in the months to come.
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