New Jersey sportsbooks exceed $100m in revenue for November
State becomes the first to pass this revenue threshold.
New Jersey’s online and retail sportsbook performance for November continued a strong run as the state became the first in the nation to have more than $100m in monthly revenue. The state saw nearly $1.3 in wagering.
This marks the third consecutive notably strong month for the Garden State, with each month surpassing $1bn. Among the other milestones it surpassed was a lifetime betting handle of over $20bn.
Altogether, sportsbooks saw $1.26bn in action. Betting was up 35.2% year-over-year from $931.6m. Despite these incredible numbers, October’s take – at $1.3bn – was slightly higher than November’s.
The $114.8m in bets that sportsbooks won exceeded the previous record, for both the state and the entire country, of 84.2m. Year-on-year revenue came to $50.6m, 127.1% growth.
Officials should welcome this news as it has generated $17.3m in state and local taxes.
These high numbers have been largely attributed to an active sports calendar: college and professional football are now in full swing, the NHL season has commenced, and the NBA – ever-popular with sports bettors – has resumed play.
At 2.3bn in bets for the year, basketball attracts more than any other sport in the state of New Jersey. Football comes in second, and has seen $1.6bn in wagers for the year.
New Jersey can boast a wealth of professional teams – including several New York teams that play in New Jersey – to keep bettors interested.
Online, the field was dominated by FanDuel/PointsBet/Superbook, which saw $59m in gross revenue, $20m more than what had been seen in October. After this, the second and third were Resorts DIgital/DraftKings/Fox Bet with $22.5m and then Borgata/BetMGM with $8.4m.
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