Sports betting in New Jersey continues to sky-rocket in popularity.
A staggering $330.7 million was wagered in sports betting (both physical sportsbooks and online) in November, as revenue clocked in at $21.2 million for the month, as reported by the state’s Division of Gamin Enforcement on Wednesday. Those totals are up from the $260.7 million wagered and $11.7 million in revenue that sports gambling within “The Garden State” accounted for in October.
Most incredible of all is in the five and a half months that sports betting has been legalized in the state, $928.1 million has been wagered, as New Jersey will surpass the $1 billion in total handle by the time December is accounted for. The five-and-a-half-month revenue total stands at $73.2 million.
The upwards trend should continue for this month, considering the NFL season will have its playoff picture taking serious shape, while the NBA season chugs along toward the holidays and New Year. So, just imagine what the sports betting wagers and revenue totals will look like by the end of December.
Since the U.S. Supreme Court ruled in May, paving the way for New Jersey to legalize sports betting, the industry has been absolutely on fire, with the month-to-month wagers continuing to hit ridiculous numbers.
In June/July, legalized sports betting did $57 million in wagers to make an initial splash. That rose to nearly double with $95 million in wagers for the month of August and a ridiculous $183 million in September. October, the first month in which the NBA and NFL were on simultaneously, recorded sports-betting wagers of $260 million, before November’s $330 million was announced Wednesday.
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