It’s Official! NJ Sportsbooks Surpass $1 Billion In Monthly Handle

• New Jersey sportsbooks see $1.01 billion in total betting handle in September 2021.
• Sports betting revenue spiked 82.9% month-over-month for $82.4 million.
• Football bets accounted for more than $400 million of total bets.

TRENTON, N.J. – Sportsbooks in New Jersey saw a massive 35.1% increase in betting activity month-over-month, pushing NJ to become the first $1 billion monthly market.

New Jersey sportsbooks saw a bump in monthly betting revenue as well. This is the second most profitable month for New Jersey since its launch of the industry.

Online and mobile sportsbooks continued to dominate New Jersey’s market. NJ has remained the dominant fixture in the legal sports betting market.

New Jersey Sets Records

The official report released by the New Jersey Division of Gaming Enforcement shows that $1.01 billion was bet on sports in September 2021. This is up from the $748.6 million in August.

Sportsbooks saw an 8.2% hold rate for $82.4 million in sports betting revenue, up 82.9% month-over-month. This monthly revenue is only beaten by January’s $82.6 million. NJ collected $10.2 million in state taxes for September.

The reason for the spike in activity is easily attributed to NFL betting. Football wagers accounted for $400.8 million of the total bets placed and $10.3 million of the total revenue for a 2.6% hold rate.

The second bulk of wagers came in through parlays with $216.1 million in handle and $42.3 million in revenue for a 19.6% hold rate.

Baseball wagers saw $185.2 million of the betting handle and $6.6 million in revenue. Basketball wagers saw $22.4 million in handle and $77,049 in revenue.

Online Dominates, Again

Mobile betting in New Jersey was the main way sports gamblers wagered in September. Online betting is the main reason New Jersey remains the top sports betting market in the US.

“New Jersey reaped the benefit of being an early adopter of sports betting,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the gambling industry. “By embracing mobile sports books and making sports betting more accessible than even Nevada, New Jersey has now achieved an important milestone of more than $1 billion wagered on sports in a single month.”

FanDuel, PointsBet, and SuperBook who are licensed through Meadowlands Racetrack saw $36.6 million in online handle.

DraftKings, Fox Bet, and Resorts AC who are licensed through Resorts Digital saw $13.6 million in online wagers.

Borgata Hotel Casino & Spa reported another $13.4 million in online betting handle through BetMGM in New Jersey. All of these operators saw a majority of their handle through their mobile platforms.

News tags: Atlantic City | BetMGM | DraftKings | FanDuel | Jane Bokunewicz | New Jersey | New Jersey Division of Gaming Enforcement | NFL | NJ | Trenton