New Jersey sports betting handle hits record $996.3m in December

New Jersey’s sportsbook operators process a record number of sports wagers in December 2020.

According to the latest figures from the New Jersey Division of Gaming Enforcement sportsbooks in the Garden State processed a record $996.3m in sports wagers in December 2020.

December’s handle marked a significant increase on the $931m wagered the month prior and an even larger increase on the $557.8m wagered on sports in December 2019.

In terms of New Jersey’s sports betting revenue, sportsbooks in the state generated $66.4m in combined revenue, representing a significant increase on the $50.6m generated in November.

The state report also revealed that sportsbooks in the state paid $7.6m in taxes to the state.

Breaking down the figures

When it comes to individual sportsbook operators, the Meadowlands racetrack and its two sports betting partners, FanDuel and PointsBet, took the top spot in December after generating $33.2m in sports betting revenue.

Resorts Digital, which hosts the Fox Bet and DraftKings Sportsbook, took second place after generating $15.4m in revenue. The daily fantasy provider turned sportsbook operator DraftKings generated the majority of revenue.

The Borgata, which hosts the BetMGM sportsbook, generated $7.5m in revenue leaving the operator in third place.

Monmouth Park and its three sports betting partners William Hill, theScore Bet and PlaySugarHouse took fourth place after generating a combined $4.2m.

What did people bet on

Football was once again the most popular sport to bet on in the Garden State in December with bettors wagering a total of $323m on the sport. 

Basketball was the second most popular sport to bet on, with sportsbooks processing $253m on basketball events.

Parlays were the third most popular thing to bet on, with New Jersey bettors wagering a combined $223m on parlay bets.

An impressive 2020

For the 12 months to 31 December 2020, New Jersey’s sports betting market recorded an impressive level of growth despite the challenges presented by the coronavirus pandemic.

New Jersey sportsbooks processed a combined $6.02bn on sporting events in 2020 representing a 31.4$ increase on the state’s 2019 handle.

The majority of the state’s handle came from mobile and online sportsbooks. Online betting accounted for $5.5bn of the state’s 2020 handle, while land-based betting accounted for $487.1m. 

Sports wagering revenue for the year hit $398.5m which marked a major increase on the $299.4m generated in 2019.

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