New Jersey Sports Betting In February 2019: By The Numbers
New Jersey sports betting in February 2019 took a slight dip from January. The total sports wagering handle in New Jersey for February was $320.4 million, compared with $385.3 million in January.
The drop is nothing for the State of New Jersey to be concerned about. If anything, the state should be happy with the overall consistency in sports betting since it became legal after the U.S. Supreme Court struck down a federal law that previously prohibited New Jersey and other states from legalizing and regulating sports wagering.
February’s handle number is very close to what was posted in December — $319 million.
Another good sign for sports betting operators is that February marked a win on gross revenue. The overall sports wagering gross revenue came in at $12.7 million for the month.
Online and mobile sports wagering continues to clearly eclipse in-person wagering at brick-and-mortar casinos. $258.8 million of the total February handle in New Jersey was placed by bettors through online and mobile devices, accounting for 80.8% of all bets.
And if you did not know it before, now you know — sports betting operators love it when people play parlays. Year-to-date, they have an 11.2% win percentage on completed events, which far exceeds their win percentage on single bets games in any other sport.
