New Jersey Sports Betting and Online Gambling Set New Records in August
Published September 24, 2020 by Elana K
August was a great month for New Jersey sports betting and online gambling, with both industries showing month-on-month growth.
August was a great month for New Jersey sports betting and online gambling, with both industries showing month-on-month growth. Sports betting had a particularly good month, setting a national record for the highest handle.
New Jersey Sports Betting
New Jersey sportsbooks set a record in August with a combined $688 million handle, more than double the handle of July and the highest monthly handle of any state. The previous record was held by Nevada, which had a handle of $614.1 million in November 2019.
New Jersey sports betting revenue amounted to $39.5 million, the third all-time high for the state. 90% of that came from mobile betting, showing just how important the mobile component is.
The record-high handle can be attributed to the return of major pro sports, including MLB, NBA, and NHL. However, there were plenty of other sports to bet on as well, and they accounted for $204.9 million of August’s handle.
There’s no telling how high the September handle will go with the addition of NFL sports.
New Jersey Online Gambling
New Jersey's online gambling sites also had a good month, generating $87.8 million in August and narrowly beating out the previous month’s record of $87.5 million. Poker accounted for only $3 million of revenue, a significant decrease from July’s $4.8 million Significant, but not unexpected since July’s unusually high poker revenue was driven by the World Series of Poker that took place that month.
As usual, the Golden Nugget earned more than the other online casinos, bringing in $27.7 million. However, even though it earned more than its competitors, revenue actually decreased from July, when it brought in $31.5 million. Borgata, on the other hand, came in second, but jumped to $19 million in revenue, a significant increase from July’s $14.5 million take.
New Jersey’s combined revenue for online gambling and sports betting totaled $326 million in August. The total yearly revenue to date is above $1.6 billion.
