Last updated on December 6th, 2023 at 04:35 pm
Sportsbook owners pay a lot of attention to sports betting reports from betting markets across the country- big or small. Knowing how the market is doing in terms of trends and developments is one way to help you effectively manage your sports betting business. The reports that you read can help you identify and prepare for better, busier days, or more challenging ones. Looking at the latest numbers from the New Jersey sports betting market, it looks like bookies will be in for a lot of busier days ahead.
According to the latest report from the New Jersey Division of Gaming Enforcement, the Garden State has a $521.5 million total gaming revenue for the month of September. This includes sports betting, casino gaming, and horse racing revenue. Out of the total revenue for the month, $111.1 million comes from sportsbook revenue. While sports betting is extremely popular and lucrative, offering a wider variety of betting options will be more profitable. This is why for bookies, we recommend that you use a good sportsbook pay per head service. This is because they offer a complete slate of gaming solutions.
New Jersey Sports Betting Market in September
The $111.1 million sports betting revenue for September is up from $98 million from September 2022. The revenue comes from a whopping $1.29 billion in total monthly handle, making the state’s market one of the largest in the country. It is worth mentioning that sportsbooks in New Jersey were the first to generate more than $40 billion in wagers aside from Nevada since 2018. Given the annual and monthly increase in handle, we will not be surprised if New Jersey can sustain the billion-dollar handle in the months to come.
The start of the NFL season is a great boost to sports betting in the state. In addition, you also have MLB betting, and wagering on other popular sports leagues. As always, online sportsbooks get the bulk of the handle, with $1.25 billion. Meanwhile, brick-and-mortar sportsbooks across the state have $43.5 million in handle. This brings the total year-to-date handle for retail betting to $365.89 million, with online betting at $7.4 billion. The total sports betting handle for the year as of September is $7.77 billion.
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