Turning in its fourth-straight billion-dollar monthly handle, NJ sports betting became the first state to see $10 billion in bets in a single year.
New Jersey sportsbooks handled more than $1.2 billion during December, according to a state report released Friday. The December handle brings the full-year total to $10.9 billion, up from the 2020 total of $6 billion.
NJ sports betting revenue way down
While the bet totals were on par with the prior three months, New Jersey revenue took a steep tumble.
Sportsbooks generated $59 million, a 4.8% hold. That take is down 48.6% from November’s record-setting $114.8 million, a 9.1% hold.
New Jersey sportsbooks hit $82.4 million and $84.2 million in September and October, respectively.
The full year brought more than $816 million in sports betting revenue to the state’s sportsbooks. That is up 104.7% over 2020 when sportsbooks generated $398.6 million in revenue.
The state collected $7.5 million in December taxes, bringing the full-year total to more than $102.6 million.
|2018||$1.2 billion||$94.0 million||$11.5 million|
|2019||$4.6 billion||$299.4 million||$42.3 million|
|2020||$6.0 billion||$398.6 million||$50.8 million|
|2021||$10.9 billion||$816.0 million||$102.6 million|
Mobile rules in New Jersey
New Jersey bettors wagered $1.1 billion online in December, or 91.7% of the total handle.
The total online handle reached $9.9 billion in 2021, or 90.8% of the year’s total.
Will New York end New Jersey’s upward trajectory?
With New Yorkers no longer forced to cross the border into New Jersey to place mobile bets, there is a good possibility the Garden State will see a significant dip in monthly handle. Industry estimates suggest New Yorkers make up approximately 20% of NJ sports betting handle.