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New Jersey sports betting record shattered in October

The sports betting record that the state of New Jersey set in September didn’t last long. New Jersey released their sports betting numbers for the month of October last week and they easily surpassed the record set in September.

In October New Jersey sportsbooks reported a record handle of $803 million in total wagers. That’s up $54.4 million from the record $748.6 million they reported in September. It was also up 65 percent when compared to the $315 million they reported in October, 2019.

How did New Jersey sports betting record revenue happen?

A majority of that $803 million handle was wagered online and through sports betting apps. Just under $744 million was wagered online, compared to only $59 million wagered at brick and mortar sportsbooks.

The October numbers pushed New Jersey past $4 billion in sports betting handle for the year. Last year the total for all of 2019 was $4.6 billion. With two months remaining New Jersey will easily surpass that total in 2020.

According to the sportsbooks revenue raised during October was $58.5 million. Leading the way was the Meadowlands and their two partners, FanDuel Sportsbook and PointsBet which reported just under $30 million in revenue. Following behind them was Resorts and their partners, DraftKings and FOX Bet with $14.6 million.

Rounding out the rest of the Top 5 in revenue was BetMGM and their brick and mortar sportsbook at the Borgata with $4.3 million, Monmouth Park and their partners William Hill, theScore Bet and PlaySugarHouse with $4.1 million, and Oceans Casino with $3.3 million.

Not surprisingly, football betting dominated at the sportsbooks in October. Nearly 35 percent of the handle, or $279 million was bet on football games during the month. That total does not include parlay bets which accounted for just over 21 percent of the handle, or $171.5 million.

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