New Jersey Sports Betting Notches Another Month With A Billion Bet – Elite Sports NY

For the third month in a row New Jersey has recorded over $1 billion bet on sports.

The Garden State reported $1.26 billion in total sports betting handle for the month of November, just barely off the record setting number of $1.3 billion it set in October, according to the New Jersey Division of Gaming Enforcement.

Its the third time New Jersey has eclipsed $1 billion in sports betting handle in a single month.

New Jerseys success could be a harbinger of things to come for New York online sports betting, which will likely launch in early January 2022.

Its worth noting of the $1.26 billion in total handle that $1.14 billion was bet online.

Total gaming revenue in New Jersey for November was $439.6 million compared with $288.9 million in November 2020.

Of the $439.6 million total, sports wagering gross revenue was $114.8 million, the highest total in the states history.

All casinos and racetracks in the state reported positive sports wagering revenue figures for November.

The Meadowlands Racetrack posted yet again the highest state sports betting revenue total, reporting $64.4 million in November.

Three straight months with over $1 billion bet in New Jersey, but should the Garden State be worried when New York online sports betting launches in 2022?

An industry study has from Eilers & Krejcik Gaming inFebruary 2020estimated New Yorkers wagered$837 millioninNew Jersey in 2019.

If New Yorks online betting program is successful, it can be expected that the majority of these state boundary jumpers would remain in the state for the sake of convenience.

Excerpt from:

New Jersey Sports Betting Notches Another Month With A Billion Bet - Elite Sports NY