In the latest gambling news, we are taking a look at one of the largest jumps in month-on-month, and year-on-year sports betting activity in the country. According to the New Jersey Division of Gaming Enforcement, New Jersey sportsbooks are seeing skyrocketing sports betting revenue for the month of August. A lot what you read about guides in sports betting in the US will tell you that the trend towards August tends to go up in terms of betting activity and revenue. But even with that, the percentage increase is truly remarkable, and one for the books.
And it should also be your cue to start reading bookie pay per head reviews. The sooner you find bookie software to start your sportsbook, the sooner you can begin earning like sportsbook operators in New Jersey. The $96 million from sports betting should be more than inspiring for you to join the industry.
New Jersey Sportsbooks Has Great Start to Pre-Football Season
The $96 million sportsbook revenue is 57% higher than the revenue for the previous month, and is also 47.1% higher than August 2022. Revenue is not the only indicator that is seeing remarkable growth. The total monthly handle for sportsbooks in the state is at $725.8 million. This is 23% higher than the previous month, and 43% higher than August 2022. It will not be unusual to see sportsbooks register higher numbers as we move towards the end of the year, which has a much busier calendar than the previous season.
Your sportsbook pay per head software can help you keep track of the handle, revenue, and trends in your sportsbook. Keeping track of the information like the hold percentage is important. For instance, in New Jersey, the hold is 13.2%, the highest this summer. This means that sportsbooks kept more money, which gives them the bump in revenue.
Its also important to find our where the wagers are made. For New Jersey bettors, baseball was the most popular sport for the month. Baseball betting accounts for $28.8 million of the revenue, coming from a $290 million handle. Football betting is now in the picture, with $34 million in wagers, followed by basketball at $33 million.