For the fourth straight month the state of New Jersey has broken the record for sports betting in a month.
The sports betting handle taken in during the month of November in New Jersey was reported earlier this week with $931.6 million coming in. That was up 16 percent from the old record haul of $803.1 million set in October, and up 65.7 percent from November 2019.
That continues sports betting’s steady growth in the Garden State, as $668 million was bet in August and $748.6 million was bet in September.
Revenue accrued through sports betting in November came in at $50.5 million. That’s up from $32.8 million in sports betting revenue reported during November 2019, a 53 percent increase.
With the addition of November’s betting totals New Jersey’s 2020 handle topped the $5 billion mark at $5.02 billion. That’s up 9.6 percent from the $4.58 billion wagered in 2019.
Once again football dominated sports betting in November. Betting on football accounted for $433.3 million of all wagers in the month, or just over 46.5 percent. Parlays also continued to be a popular choice among bettors in New Jersey, accounting for $194.3 million of the November handle.
New Jersey sports betting continues to get a boost from their state neighbors in New York. The Empire State still hasn’t legalized mobile sports betting, leaving a large pile of cash on the table.
According to estimates, in 2019 bettors from New York wagers $837 million at New Jersey sportsbooks. That was just over 18 percent of all bets in New Jersey. If those numbers held strong in 2020 (and they probably rose thanks to the pandemic) then New York residents would have already wagered $918.8 million in New Jersey this year.
