Bad Nov. Sports Betting Gives NJ Sportsbooks Record Revenue

• New Jersey’s November sports betting revenue hit an all-time high.
• The November revenue was up 36% from October.
• Over 90% of the November sports betting handle came from online wagers

TRENTON, N.J. – New Jersey just handled over $1 billion in sports betting revenue for the third month in a row. Over $1.2 billion was reportedly wagered on sports within New Jersey’s borders throughout November although this is not as high as the October handle.

Still, New Jersey sportsbooks generated $114.8 million in sports betting revenue during November.

This is not only the most revenue that New Jersey sportsbooks have ever made, but it’s the highest monthly revenue pull that any state has generated.

Although bettors wagered nearly as much in November as they did in October, residents lost far more money to the bookmakers.

New Jersey’s November revenue was up 36% from October’s revenue pull.

• November 2021 revenue: $114,788,726
• October 2021 revenue: $84,152,035

Of course, the vast majority of New Jersey’s sports betting revenue came from online sportsbooks as opposed to their retail alternatives.

• Retail Revenue: $7,861,108
• Online Revenue: $106,927,615

Sports Betting Handle

The overall handle may not have been as high as it was in October, but it’s still the second-largest sports betting handle in recorded United States sports betting history.

Month-To-Month Handle Comparison

• October Handle: $1,303,198,342
• November Handle: $1,258,189,436

This is only a 3.5% drop and is more than likely due to the fact that October had an extra Sunday of football. Of course, since the majority of the revenue came from legal online sports betting, the majority of the handle was obviously also from online bets.

• Retail Handle: $114,028,081
• Online Handle: $1,144,161,355

Just over 90% of the entire New Jersey sports betting handle came from online sports betting, and a lot of this is likely coming from residents of nearby states traveling to place their wagers.

New Jersey still reigns as king of the sports betting world right now, but with so many neighboring states also launching their own online sports betting markets, just how much longer can New Jersey stay on top?

News tags: New Jersey