New Jersey Sportsbook Industry Sets New Nationwide Record

A few months ago, New Jersey broke the record as the first ever state to breach the billion-dollar mark in total monthly sports betting handle. This November, the New Jersey sportsbook industry yet again sets another record as the first state to breach the $100 million mark on revenue. In the latest sports and gambling news, let’s take a look at the latest numbers for New Jersey sportsbooks.

The Garden state records $114.8 million in revenue this November. This new national and state record is 36.4% higher than October’s $84.2 million. This is quite good news for bookie pay per head providers, as we can consistently see an increase in revenue for sportsbooks throughout the year. However, this is also the first month that the state has not set a sports betting handle record since September.

New Jersey Sportsbook Industry

The state’s total sports betting handle for November is at $1.25 billion. This is 3.5% lower than October’s $1.3 billion. However, if we look at year-on-year data, we still have a 31.2% increase from November 2020’s $872.1 million. Similar to pay per head reports, we are still seeing a steady increase over the years. The numbers are very obvious now, as fall season heralds the beginning of the busy season for sportsbooks.

Online sports betting continues to dominate the betting industry, taking in 90.9% of all wagers. This is $1.1 billion out of the $1.25 billion for November alone. The numbers in New Jersey will continue to be as high as it is, if not higher, in the months to come. However, last month, voters rejected the proposal to allow sports betting on New Jersey colleges, as well as schools from other states who will be playing games that are hosted in New Jersey. So residents are not able to bet on Princeton or Seton Hall and more.

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