New Jersey Sportsbooks Hit $95.9 Million in Revenue in November

Last updated on January 10th, 2024 at 10:16 pm

In the latest gambling industry news, we are taking a look at one of the largest sports betting markets in the country, New Jersey. The Garden State is thriving when it comes to sports betting, as clearly seen by the increase in revenue for the latest month. According to the New Jersey Division of Gaming Enforcement, there is a 19.2% increase in year-on-year revenue in New Jersey Sportsbooks from November 2022 to November 2023. It is also higher than October 2023’s $92.3 million gross gaming revenue (GGR).

These numbers are only for sports betting. If you want to check the local gambling industry as a while, with sports betting and casino revenue, total gaming revenue for November sits at $482.4 million. This is higher than the $441.1 million revenue from November last year.

With both sports betting and casino gaming, operators are earning a very comfortable revenue that only continues to grow each month. That is why when using your sportsbook pay per head service, make sure you maximize the features they offer. With your own online sportsbook, you can easily launch and online casino to help boost your revenue.

New Jersey Sportsbooks Hit $95.9 Million in Revenue in NovemberNew Jersey Sportsbooks Make More on Online Betting

As always, online sports betting is a very popular choice for bettors. As the weather becomes colder during this season, bettors could still travel to their preferred retail sportsbooks. But with online sportsbooks easily available, they can simply go online, check the odds, and place bets from the comforts of their homes.

The total sports betting handle for the month is $1.6 billion for November. This is higher than October’s $1.3 billion. Out of that total, over $1.5 billion of wagers come from online sportsbooks, leaving around $55.2 million coming from retail or brick-and-mortar sportsbooks.

New Jersey Ranks Second Nationwide in Sports Betting

The total year-to-date handle for retail sports betting in New Jersey sits at $477.4 million. Online sports betting, meanwhile, has a total year-to-date handle of $10.2 billion.

With almost $11 billion in total wagers for the year so far, this puts the New Jersey sports betting market at the second spot for the highest-year-to-date betting handle. The top spot goes to neighbor New York. Given the very busy sports calendar for December, it would not be a surprise to see both states continue to generate as much handle and revenue they are to end the year in a high note.


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