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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