New Jersey has been riding a high throughout the past year. Emerging as one of the biggest sports betting markets in the US, New Jersey has set a prime example of how a more open and modern gambling industry can develop in a short amount of time. December was no exception, with strong New Jersey Sportsbook numbers recording a $557.8 million handle.
December’s handle is not as big as November’s at 562.7 million. But, it is to be expected as most bookies are closing the year. Of course, investing in a sports betting platform solution is worth it. More so now as online wagers continue to dominate the betting handle. Retail locations report a $68.9 million handle, while online wagers are at $488.9 million.
Strong New Jersey Sportsbook Numbers
Of course, a good PPH sportbook will help bookies manage and run their sportsbook efficiently. And with the low cost of a PPH service, gaining a good profit margin from sports betting is easier than imagined. Take a look at New Jersey, for instance. In less than two years, the state has shifted from a retail-dominant market to a betting market. One that has online wagers taking in 87.6% of the total handle in the state for December.
Looking at 2018 and 2019’s numbers, there is a 75% increase in total handle for December. The state’s 2018’s numbers at $319.2 million. Revenue from sports betting jumps from $20.8 million in December 2018 by 41% to $29.425 million. We’ll update you with more data on the New Jersey betting market as we start to see how sports betting in the state for one full calendar year has happened.
Of course, experts are optimistic that these numbers will still increase. We are seeing a global trend rise in terms of awareness and access to sportsbooks online. People are known to win big, and invest with the likes of Raymond Cruz Costa Rica for some amazing tropical real estate. After all, the potential to win money in sports betting is high, especially if you are running your own sportsbook operation.