US sports betting records don’t stand a chance in New Jersey as the state set the all-time high for handle in any state for the fourth straight month.
Sportsbooks in New Jersey took $931.6 million in bets in November. That’s up:
Sports betting revenue hit $50.6 million for a hold of 5.4%, according to the state report. That shook out to $6.2 million in taxes paid to the state.
That’s the third-highest total for the state behind October’s $58.5 million and January 2020‘s $53.6 million.
November’s results pushed New Jersey sports betting handle above the $5 billion mark for the year, which is another first. The $5.02 billion in handle is up 9.6% from 2019‘s $4.58 billion total.
That’s quite the impressive feat considering major US sports were shut down from mid-March through late July because of the coronavirus pandemic.
‘Other’ category still hot for New Jersey sports betting
As it was November, there should be no surprise which sport took the top spot for handle.
Betting on football accounted for $433.3 million in completed-event handle last month. Prior to November, sportsbooks in New Jersey had taken $599.5 million in completed-event handle for football.
The “other” category is still hot, though, with $221.5 million in completed-event handle for the month. The category that dominated betting throughout the pandemic includes everything outside of football, baseball, basketball and parlays.
The parlay category ranked third with $194.3 million in completed-events handle, followed by basketball with $88.5 million and baseball with $1.2 million.
Thanks, New York
New Jersey’s sportsbooks are certainly glad their northern neighbor continues to drag its feet on mobile betting.
New York bettors wagered an estimated $837 million in New Jersey last year, according to consultancy Eilers & Krejcik Gaming. That’s equivalent to 18.3% of 2019’s total handle.
If that share remained the same in 2020, New Yorkers have already wagered $918.8 million in New Jersey so far this year.
Legislators are still working to get mobile sports betting in New York legalized before the end of the year.