New Jersey Almost Hits Billion Dollar Handle

New Jersey Almost Hits Billion Dollar Handle

New Jersey Almost Hits Billion Dollar HandleNew Jersey almost hits billion dollar sports betting handle for the month of November, according to bookie pay per head reports. The sports betting industry is certainly doing well, ending 2020 in a better condition than it was early in the year. But New Jersey is taking things to another level, almost reaching the $1 billion mark in sports betting in a month. Even though the state did not quite reach the mark, it still set a record month for the state.

The new highest record for sports betting handle for the month in New Jersey is this November, at $931,620,415. This beats their previous record of $803 million back in October. Those who want to be a an online bookie should pay attention to the trends so you know what to expect from the betting market at least in the short term.

Billion Dollar Handle: New Jersey’s Sports Betting Industry

The betting handle for November is $128.5 million, which is 16% higher than the previous month. If we compare it to last year’s numbers, we see an amazing 65.6% increase over November 2019’s $562.67 million handle. Even more amazing, is that the state has also passed the $5 billion betting handle mark for 2020. Not many states can claim to have the same numbers, but then again, each state has different laws, and have different betting markets.

Using software for bookies is very popular in New Jersey, with 93.6% of the total handle coming in from online/mobile wagers. The mobile handle for the month of November is $872 million. This is 17.2% higher than October’s $743.9 million. It is also 79.2% higher than November 2019’s mobile handle of $486.8 million. This is actually not just a state record in terms of highest mobile handle, but is also the highest mobile on a national level.