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New Jersey’s Sports Betting Revenues on the Rise

sports betting in new jersey

There is no better time to ask how to be a bookie. Sports betting in the US alone has been on the rise since last year. And looking at the numbers, revenues on the rise will be a trend that will continue on for years.

A good bookie pay per head will help you get your spot to get into the online sports betting industry. With the best sports betting software available, anyone who can learn how to run a sportsbook will have the opportunity to be part of one of the fastest-growing industries.

Revenues on the Rise

sports betting in new jerseyNew Jersey is the perfect example of how the sports betting industry is growing. Revenue from July alone is now at $17.9 million for sports betting. Compared to last year’s July numbers of $3.8 million. According to the Division of Gaming Enforcement of New Jersey, The numbers for July show a 371% change.

Looking at the Year-to-date revenue, this year we have $127.5 million compared to $7.29 million from 2018. This is a whopping 1649% change. July’s Handle is at $251.3 million, from $39 million in 2018. Again, the percentages show us a 544% change.

However, a small slump was reported in sportsbook’s hold for the month, with a -27% change from 9.74% last year to 7.12% this July. The online sportsbook handle registered $213 million for July. As for where the wagers were placed, 84.76% were online sports bets. Online sportsbooks are at $213 million with retail physical sportsbooks at a generous $38.3 million.

Total gaming revenue for 2019 year-to-date is at $1.925 billion from January to July. This is a 23.2% increase from last year’s $1.563 billion. And these numbers are indicative of a growing market for online wagering. And if you have the best sportsbook outsourcing services, then you are one step closer to success.