New Jersey’s online and retail sportsbooks collected $562m in bets in November, with the industry now having taken in more than $5bn in bets since the first bet was legally accepted in the state in June, 2018.
According to analysts from PlayNJ.com, at the current pace it won’t be long until the state reaches $6bn.
Dustin Gouker, lead analyst for PlayNJ.com, said: “New Jersey sportsbooks will remain the chief beneficiary as long as neighbouring New York refuses to legalise sports betting.
“New York City’s eight million residents continue to be a key ingredient that has propelled New Jersey into Nevada’s chief rival as the country’s largest legal sports betting market.”
New Jersey’s sportsbooks collected $562.2m in bets in November, beating the record $487.9m handle in October, according to official reporting. November’s handle represented a 70 per cent increase from $330.7m in October 2018.
New Jersey’s November handle is likely to be close to Nevada, which collected $581.1m in bets in November 2018. Regardless, New Jersey’s year-over-year growth has pushed its lifetime sports wagers to $5.3bn, clearing yet another significant milestone in the state’s impressive first 18 months as a legal sports betting jurisdiction.
