New Jersey tops $1 billion in Handle for Second Straight Month
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New Jersey still leads the way with Second Straight Billion Dollar Sports Wagering Record
New Jersey strengthened its position as the king of sports betting in the U.S., topping $1 billion in October for the second month in a row. Last month, the Garden State’s sports betting handle posted a new record, surpassing $1.3 billion, according to New Jersey Division of Gaming Enforcement figures released on Wednesday.
In September, New Jersey became the first state to reach the $1billion mark in sports bets. The new record set in October is 28.9% over September’s then record-breaking $1.1 billion sports-betting handle. For a year-on-year comparison, this year’s sports-betting total was 62.3% above the $743 million figure posted in October 2020, before COVID-19 vaccines came onboard.
As we approach the end of 2021, approximately $8.5 billion has been collected in New Jersey sports wagers so far this year. The high wagering totals for October occurred with the NFL, NBA, and NHL seasons in full swing in addition to the NBA playoffs starting. The majority of the wagers have been placed on mobile via one of the many NJ sports betting apps now available in the state.
Mobile Sports Betting Comes out on top
Although New Jersey boasts some of the finest casinos and horse tracks that accept sports bets in the country, the state is benefitting from the flexibility that mobile sports betting offers.
Of the total sports wagers for New Jersey in October, $1.17 billion came from bettors placing mobile wagers, according to the NJDGE’s figures. This accounts for 90.5% of the sports bets placed last month in the state.
The previous record for mobile sports betting in New Jersey was $929 million in December 2020. New Jersey was not the only state to break records in October. Mississippi ($83.5 million) and Pennsylvania ($776 million) also set new records. Additionally, Tennessee, Iowa, Oregon, and Indiana also posted record-breaking totals.
New Jersey Remains the Benchmark
October’s numbers place New Jersey at the top of the growing national trend in sports betting. Sports wagering is permitted in 29 states, including Washington, D.C. It has been legalized in three more states but hasn’t launched in those locations as yet.
These record-breaking numbers are occurring just as neighboring New York is getting in on the sports betting action.
The New York State Gaming Commission has approved nine gaming operators to provide legal mobile sports betting for the first time in the country’s fourth-most populous state. The Big Apple is home to more than 19 million people.
Lawmakers in New York hope to have mobile sports betting live in time for the Super Bowl, which takes place on February 13 in Inglewood, California.
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