New Jersey Posts Another Massive Handle Total
The New Jersey sports betting handle total for the month of December was $1.2 billion, making this the fourth straight month that the state has gone over the $1 billion mark. The December total was still slightly under the previous record as New Jersey went over $1.3 billion in October.
With the massive haul in December, the total sports betting handle for the year was $10.9 billion. This shattered the yearly total from 2020 when the total handle was right around $6 billion.
New Jersey’s sports betting handle in December was $10.9 billion.New Jersey will finish 2021 as the most prominent sports betting market in the United States as it led the state of Nevada in every single month.
Sports betting experts believed that New Jersey would have what it takes to go over the $1 billion mark for a month, and the NFL helped push the state to new heights.
The total sports betting revenue for sportsbooks in December was just $59 million, and that is a drop of nearly 50 percent from November. November was a great month for sportsbooks as favorable NFL results allowed the state to bring in more than $114.8 million in revenue.
The total sports betting revenue for the year in New Jersey was $816 million. That more than doubled the revenue total from 2020, when the total revenue was $398.6 million.
Mobile Betting Leads the Way
Mobile sports betting continues to be the top option for placing bets in this state. The mobile sports betting handle was $1.1 billion, which amounted to more than 91 percent of all of the placed wagers.
Now that December is over, the state could also tally up all of the online wagers that were placed in New Jersey. That total mobile betting handle was $9.9 billion in 2021, and that was 90.8 percent of the total handle for the year.
The Meadowlands has partnered with FanDuel, PointsBet, and SuperBook, and those three sportsbooks had a revenue of more than $30 million.
Here Comes New York
Online sports betting in New York officially launched on January 8, and this will be a problem for New Jersey. New Jersey has been able to take business away from its neighbor as only retail options existed.
Four of the biggest names in sports betting went live in New York on January 8, and another has since joined the party. Those five operators are BetMGM, BetRivers, Caesars, DraftKings, and FanDuel.
There will still be those bettors that cross over into New Jersey to make their bets, but not as many as before. It will take some time before New York passes up New Jersey, but it will have a significant impact on the sports betting numbers for this state.
