New Jersey Sportsbooks Hit Record $1.3B In October Handle – Legal Sports Report

New Jersey sportsbooks took more than $1 billion in handle for the second straight month to set another round of state and US records.

Total handle was $1.303 billion, up 28.9% from the $1.011 billion that set the record in September. Sports betting revenue also hit a record $84.2 million for a 6.5% hold.

NJ sports betting operators paid a record $10.6 million in taxes for the month.

Octobers results are a big leap over last Octobers totals, which were all records at that point:

Its important to note this is not purely organic growth, however. Along with additional sportsbooks, October had five full Friday through Sunday weekends. That means five full Saturdays and Sundays to rack up handle on both college football betting and NFL betting.

Football accounted for nearly $500 million in completed event handle for the month, but bettor-friendly results helped drag hold down to just 2.4% on the sport:

A healthy piece of that $317 million bet on parlays was likely football betting as well. Completed parlay revenue accounted for 56.4% of reported revenue for the month.

As usual, the Meadowlands partnered with FanDuel Sportsbook, PointsBet and SuperBook led all licensees with $44.1 million in sports betting revenue.

Resorts Digital, which reports for its own brand as well as DraftKings Sportsbook and FOX Bet, ranked second with $15.9 million in revenue.

New Jerseys $1.3 billion in handle represents 38.9% of all reported US sports betting handle as of Nov. 17. Its $84.2 million in revenue is good for 43.5% of the reported revenue.

While Nevada will likely drop Pennsylvania sportsbooks from the second spot, no one is coming to contest NJ for that top spot this month or likely any month soon.

But things could look totally different for next Octobers results. The nine winners of online NY sports betting licenses are working right now to be the first to launch, which can basically happen as soon as a sportsbook is ready.

That does not mean New York will jump into the top spot, though that could happen eventually. How much of New Jerseys business drops off because it can finally stay in New York will determine if and how New Jersey falls in the ranks.

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New Jersey Sportsbooks Hit Record $1.3B In October Handle - Legal Sports Report