New Jersey is at it again. The New Jersey sportsbook betting handle for the month of October is $803 million- the highest the state has ever had. Not only that, but the state’s betting handle is now the highest ever sports betting handle in the US. The previous highest handle is $748.6 million that New Jersey also set back in September. Many in the sportsbook PPH industry looks to the numbers as a good sign of the health of the sports betting industry in the US.
The betting handle is 7.3%, or $54.5 million higher than September’s. The whole betting total handle is at $803,096,172. And if we look at our year-on-year data, it is 64.6% higher than October 2019’s $487.9 million. Considering that the huge handle is happening in spite of a pandemic, the sports and sports betting industry is far from suffering.
New Jersey Sportsbook Betting Handle
Those who want to open a sportsbook should simply look at the mobile handle of the Garden State for inspiration. New Jersey has one of the most progressive sports betting laws in the country, which is evidenced by the huge success of the local betting industry. The handle for October in mobile wagering is $743,899,049. This is 9.6% higher than September’s $678.7 million. It is also 78.4% higher than October 2019’s $417 million.
Not done breaking records, the mobile betting handle for October is also a new record for the state, as well as the whole country. Mobile wagers take 92.6% of the total sports betting handle for October. Many experts are looking at higher numbers for the state in the future. Not just because of a healthy local industry, but because of its added potential. The state currently has a bill filed that may possibly allow college sports betting in the state- including sports events that involve state colleges and other local teams.