NJ Sports Betting Market Blasts Through Revenue Record

Posted on December 20, 2021
Written By on December 20, 2021

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.

 20202021Difference
September Handle$748.6 million$1.01 billion35.1%
September Revenue$45.1 million$82.4 million82.7%
October Handle$803.1 million$1.30 billion62.3%
October Revenue$58.5 million$84.1 million43.8%
November Handle$931.5 million$1.26 billion35.2%
November Revenue$50.6 million$114.8 million126.9%

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.

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Pat Evans

Pat Evans is a Las Vegas-based reporter covering sports business. Evans previously worked at Front Office Sports and the Grand Rapids Business Journal. He has authored two books: Grand Rapids Beer and Nevada Beer.

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