New Jersey Earned $111 Million on $1.29 Billion Sept. Handle

by | Oct 17, 2023 4:31 pm | Revenue | 0 comments

New Jersey Earned $111 Million on $1.29 Billion Sept. Handle

New Jersey Sportsbook

  • New Jersey recorded $1.29 billion in sports betting handle for September.
  • The $111.1 million in gross sports wagering revenue marks a 13.4% increase from Sept. 2022.
  • Online sports betting made up 96.6% of September sports wagers in New Jersey.

TRENTON, N.J. – New Jersey earned over $111 million in gross gaming revenue according to the state’s gaming revenue report for September. The Garden State saw a handle of $1.29 billion, their highest monthly handle since Dec. 2021.

September’s legal sports betting report set the tone for the rest of the football season in New Jersey. The big month moves New Jersey’s year-to-date sports betting handle to $1.41 billion; a 15.4% increase from 2022.

New Jersey is the only state to surpass over $40 billion in sports wagering handle since 2018. Nevada holds second place with $34.35 billion post-PAPSA.

Online Sports Betting Handle Continues Dominance

Betting at legal online sportsbooks recorded $1.255 billion in sports wagering handle. Retail locations saw a much smaller handle of $43,533,344 million, just 3.4% of New Jersey’s Sept. sports betting handle.

Revenue from retail sportsbooks decreased 26.8% from Sept. 2023 to Sept. 2022. Retail sportsbooks made $39.5 million of the $111.1 million in Sept. gross gaming revenue.

The other $71.6 million in legal New Jersey sports betting revenue came from online sportsbooks. September marked a 62.8% increase in online sports wagering revenue from Sept. 2022.

Online sports betting makes up 95.3% of the year-to-date handle in New Jersey. According to the New Jersey Division of Gaming Enforcement, retail sports wagering reached a handle of $365,897,376 in nine months of 2023.

The Garden State also reeled in $54.1 million in taxes for September. New Jersey enforces a gross revenue tax (8%), internet gross revenue tax (15%), and internet sports wagering tax (13%) that earned $49.1 million from online and $4.99 million from retail sports wagering.

Advertising Disclosure

In order to provide you with the best independent sports betting news and content LegalSportsBetting.com may receive a commission from partners when you make a purchase through a link on our site.

News tags: | |