New Jersey Sports Betting In November 2018: By The Numbers
New Jersey had its best month yet in terms of total money wagered on sports since legalization and regulation thereof in 2018. In November, New Jersey sportsbooks brought in a total handle of $330.7 million.
In October, New Jersey sportsbooks were responsible for a handle of $261 million.
In less than six months of providing any form of legalized, regulated sports betting in New Jersey (and through November), sportsbooks in New Jersey have processed $928.1 million in sports wagers.
Online wagers largely outpaced those placed at land-based casinos in New Jersey in the month of November. $238.6 million (making up 72% of the wagers placed) came through online sportsbooks. In October, online sportsbooks accounted for 67% of the wagers made in New Jersey, which means that consumers continue to gravitate to online and mobile offerings.
In total, sportsbooks actually held (as profit) $21.2 million from the $330.7 million wagered in New Jersey in November. DraftKings, in partnership with Resorts AC, brought in a $7.2 million hold from online, while FanDuel secured a $4.4 million hold.
Will sports betting in New Jersey become bigger than Nevada? One research firm says it could happen by 2021. Nevada sportsbooks had a handle of $528.2 million in November 2017, which means that New Jersey is quickly catching up.
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[…] New Jersey sportsbooks brought in a total handle of $319 million. While it was down from the $330 million in November, that was to be expected as December has traditionally been a slower month in the longer regulated […]