The New Jersey sports betting industry becomes the first state to hit $1 billion in monthly sports betting handle. The record set by New Jersey sportsbook industry totals $1,011,114,311 for September, 52.1% higher than August’s $664.7 million. The handle is also 35.1% higher than September 2020’s $748.6 million handle. This is also the state’s highest monthly handle ever, with the previous record made last December 2020 at $996.3 million.
The increase in handle this September is shared by many a pay per head sportsbook, which is largely attributed to the start of football season. The NFL started last September 9, and college football season began as well. Many in the industry are looking at more records to be set in the next few months as well. The NBA and the NHL are both starting their regular seasons in October, while college basketball will start in November.
New Jersey Sportsbooks: The Numbers
As it usually is for New Jersey, online sports betting is the majority source for wagers for the month. 90.8% of the wagers are made through online sportsbooks, with $918.4 million in value. This is a significant increase from the previous month, up 49.9% from August’s $612.9 million. This is 82.9% higher than September 2020’s mobile handle of $45.1 million. Given the significant growth of online wagering over the years, its no surprise that many are trying to break into the sports betting business. If you are planning on joining the industry by putting up your own online sportsbook, you can refer to these sportsbook pay per head software tutorials to learn how.
Meanwhile, the sports betting revenue of the state is at $82.4 million for the month of September. This is 58.5% higher than that of August’s $52 million revenue, and 82.9% higher than that of September 2020’s $45. This is, however, not the highest revenue the state’s sportsbooks have had. It comes very close, though, with the highest monthly revenue at $82.6 million. This previous record high on the betting handle was back in January.