NOVEMBER WAS ANOTHER $1B-PLUS SPORTS BETTING MONTH FOR JERSEY!
By Skip Charles in Vegas
New Jersey has posted another new sports betting record in November.
While handle, at $1.26 billion, fell just short of the country’s single-month record-high of $1.3 billion, set in October, the state did set a new all-time high in sports wagering revenue at $114.8 million.
Thanks to this new record, New Jersey has now become the first state to ever surpass the $100 million mark in operator revenue in a single month, according to data released by the Division of Gaming Enforcement. The previous revenue record was October’s $84.2 million.
The $114.8 million in revenue posted last November represents a considerable increase over November 2020, in which sportsbooks in the state brought in $50.6 million. The state is now up over 125% in revenue year-over-year.
While handle was lower than that posted in October, November was still a great month for sportsbook operators in the state, especially when taking into account October had five full weekends of football action, and November had just four. With over $9.7 billion in wagers through the year so far, New Jersey is set to become the first state to post handle over $10 billion in a single calendar year.
Unlike other months, NBA proved to be the most popular betting choice for New Jerseyans in November, with the season now well underway: basketball placed first, followed by football. Baseball was the third most-popular betting choice.
As expected, online betting was the most popular choice, making up 90.9% of the overall market share, with $1.1 billion in bets during the month. This figure was down 3% from October’s $1.2 billion in online bets, but 31.2% above from November 2020, which was at $872.1 million.
