New Jersey is Positioned to Hit $1 Billion in Sports Betting Handle and Online Gambling RevenuePublished October 11, 2021 by Elana K
August was an impressive month for New Jersey’s gambling industry, with the state generating $427.7 in total gaming revenue - a 31% year-on-year increase, but a 5.1% month-on-month decrease.
August was an impressive month for New Jersey’s gambling industry, with the state generating $427.7 in total gaming revenue, according to the New Jersey Division of Gaming Enforcement. The total is a 31% increase compared to August 2020, but a 5.1% decrease from the previous month. While the month-on-month numbers went down, September is expected to see a significant increase due to the start of NFL season.
New Jersey Sports Betting
The sports betting handle for New Jersey hit $664.7 million in August, a 15% month-on-month increase. As usual, the vast majority of bets were placed online and on mobile. The monthly handle positions New Jersey to become the first state to reach a $1 billion handle in a single month. The state already came close in December 2020, with a handle of $996.3 million in the last full month of NFL games.
To date, New Jersey's total handle for 2021 has reached $6.13 billion, already surpassing the annual total of 2020, which reached only $6.02 billion.
Sportsbook operators generated $52 million in revenue in August, a 31.7% increase compared to August of 2020, but a decrease of $55 million compared to July 2021.
New Jersey Online Gambling
Online gambling in the Garden State had a near-record month in August, also positioning the state to be the first to hit $1 billion in annual online gaming revenue. Gross gaming revenue from online casinos and poker rooms amounted to $113.2 million, a 29% year-on-year increase and a slight decrease from July’s $118.7 million.
New Jersey online gambling has been surpassing the $100 million mark regularly, making it one of the leaders in the American online gambling industry.