NJ sports betting handle hits $487.9m in October

New Jersey sports betting handle and revenue saw a massive increase in October.

According to the figures from the New Jersey Division of Gaming Enforcement (NJDGE), sportsbooks in New Jersey processed $487.9m in sports bets in October.

October’s handle marked a 9.5% increase on the $445.6m wagered in September. The latest figures also mark an 87% increase on the $260.7m wagered in October 2018.

Sports betting revenue in New Jersey hit $46.4m in October breaking the previous record of $37.9m that was set in September. The revenue generated in October 2019 also marked a 297.8% increase on the $11.7m generated in October 2018.

Breaking down the figures

Meadowlands Racetrack, which is partnered with FanDuel Sportsbook and PointsBet, continued to lead the New Jersey sports betting market in October after generating $24.8m in revenue up from the $3.5m generated this time last year.

Resorts Digital, which is partnered with Fox Bet and DraftKings Sportsbook held onto second place in October with $10.6m in betting revenue, a significant increase on the $5m generated in October 2018.

Resorts Digital and Meadowlands Racetrack were the only sports betting operators in the Garden State to generate more than $3m in sports betting revenue last month.

October’s figures show that the online platforms were the most popular way to bet in the Garden State. New Jersey bettors wagered more than $417m with online sportsbooks and just $71m at land-based sportsbooks.

Sports betting in New Jersey

Since the launch of sports betting in New Jersey last year, the market has seen considerable growth.

The Garden State is currently home to 15 online and mobile sportsbooks, with several more set to enter the market in the coming months

New Jersey’s success can be attributed to the openness of the state’s betting market. The state’s regulations allow bettors to create online sportsbook accounts remotely from anywhere within the state, making it much more convenient to sign up and bet.

For an in-depth look at each state’s sports betting statistics visit the BettingUS stats page.

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