NJ sports betting barely missed one record in November, but the state shattered another one.
New Jersey sportsbooks took $1.26 billion in November bets, falling just short of October’s $1.30 billion record handle. It is the third straight month NJ bettors wagered more than $1 billion.
The NJ sportsbooks, however, generated $114.8 million in revenue, a 9.1% hold. That is a record revenue figure, besting the $84.2 million, a 6.5% hold, in October.
Big year for NJ sports betting
The $1.26 billion handle in November 2021 is a 35.2% increase over November 2020’s $931.6 million.
Through November, New Jersey bettors have wagered more than $9.7 billion in 2021. That puts more than $10 billion total for the year easily in the crosshairs.
In December 2020, New Jersey sportsbooks handled $966.3 million.
New Jersey revenue growing too
November’s monthly revenue was up approximately 127% compared to the same month in 2020. In November 2020, sportsbooks generated $50.6 million in revenue.
Through 11 months, New Jersey sportsbooks have generated $756.7 million in sports betting revenue. In the first 11 months of 2020, NJ sportsbooks generated $332.1 million in revenue.
In November, the state collected $14.6 million in taxes. The state has collected $95.1 million in taxes year-to-date.
| 2020 | 2021 | Difference | |
|---|---|---|---|
| September Handle | $748.6 million | $1.01 billion | 35.1% |
| September Revenue | $45.1 million | $82.4 million | 82.7% |
| October Handle | $803.1 million | $1.30 billion | 62.3% |
| October Revenue | $58.5 million | $84.1 million | 43.8% |
| November Handle | $931.5 million | $1.26 billion | 35.2% |
| November Revenue | $50.6 million | $114.8 million | 126.9% |
Online rules NJ sports betting
In November, online wagers made up 90.5% of the total handle, or $1.1 billion.
For the year, the online handle is $8.8 billion, or 90.7% of the total handle.
In terms of operators, the Meadowlands and its online partners — FanDuel Sportsbook, PointsBet Sportsbook, and Superbook — led the way with $64.4 million in revenue, including $59.0 million in online revenue.
Basketball is top draw – for now
For the year-to-date completed handle, basketball paces the rest of sports with $2.3 billion. Sportsbooks have won $78.6 million on basketball, a 3.4% hold.
Football is second among individual sports with $1.6 billion in completed events handle. With a win rate of 4.1%, sportsbooks generated $66.3 million in revenue on the sport. December should see football push ahead of basketball, though.
Sportsbooks have won nearly $406 million on parlays on $2.2 billion in completed event handle, a 18.3% hold.
