- New Jersey has seen $996.3 million in sports betting activity in December.
- This is the highest sports betting month since launch.
- New Jersey collected a record-breaking $66.4 million in sports betting revenue.
TRENTON, N.J. – New Jersey has continued to be one of the biggest sports betting markets out there and the Garden State is now coming off of a near billion-dollar sports betting month in December.
The bulk of the sports betting activity came from online and mobile sportsbooks, showing that mobile betting is still the main way New Jersey bettors want to wager.
The Garden State also saw record-high numbers in sports betting revenue making December the biggest and most profitable month in New Jersey Sports betting history.
New Jersey’s Continued Growth
Local sports bettors in the Garden State have been very active all through 2020 once major sporting leagues returned, and this had led to steady growth each month.
The steady growth led to a total betting handle of $996,300,794 in the year’s final month according to the state revenue report. Mobile and online sports betting accounted for $929,331,841 of the total betting handle and retail betting saw $66,968,953 wagered on site.
In terms of revenue collected, sportsbooks took in a hold rate of 6.6%, amounting to $66.4 million in revenue. Of that, the state saw $7.6 million in taxes.
Both the sports betting handle and revenue collected are record highs for New Jersey. The Garden State has managed to break records in three consecutive months.
Football was the number one in terms of single-game wagers in December. Those betting on the NFL and college football betting attracted the most action.
A total of $323 million in bets were made on football, $253 million on basketball, and parlays accounted for $223 million in betting activity.
New Jersey bettors placed most action at the Meadowlands sportsbooks, with the Resorts Digital coming in second and the Borgata Casino coming in third.
The many sports betting options available in New Jersey have been attributed to the state’s steady growth. With the NBA season in full swing, and the NFL postseason ongoing, these sports betting numbers are expected to increase.
On the horizon, however, is the potential launching of New York’s mobile sports betting market. New Jersey is expected to lose a lot of action once the Empire State hosts mobile betting for its residents.
Until then, New Jersey continues to benefit from New Yorkers crossing the bridge for legal sports betting.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.