New Jersey sportsbooks made headlines last month, breaking the $1 billion mark in their monthly total sports betting handle for September. But the Garden State breaks its own highest recorded handle in October, recording $1.3 billion in wagers. The upward trend in increasing handle shows what many of our Bwager experts are saying- September’s handle was not a fluke. Not only are we seeing a more “normal” or pre-pandemic sports industry, but we are also seeing betting industries hit records that are even higher than before the pandemic.
Last September, the total sports betting handle of New Jersey was $1.01 billion. This is the first time in US sports betting history that a state has hit a billion-dollar monthly handle. But the record is yet again reset this October, with the monthly handle increasing by 30% to the current record, which is at $1.3 billion.
New Jersey Sportsbooks Betting Handle
Given how lucrative the sports betting market is, many are joining the industry by putting up their own sportsbooks. And given that in most betting industries, online sportsbooks take the majority of the wagers, many are using this betting software companies to see how they can easily do it. In New Jersey’s case, around 90%, or $1.18 billion of the total handle come from online sportsbooks. Of course, the credit for the high betting handle goes to the NFL season. And you also have the beginning of the NBA season in October.
For those who want to understand how to bet on these specific sports, here are some sports betting tutorials to help you. It is important to be knowledgeable in all the different sports leagues that are popular with sportsbooks and PPH bookie sites . Especially in the next few months. Bookies are expecting to be swamped with wagers from professional sports leagues like the NFL, NBA, the MLB playoffs, and the NHL. Likewise, bookies are also likely get as much as their professional counterparts in handle when it comes to college football, and college basketball. With all of these leagues currently running, it will not be a surprise if we would hear New Jersey break its own record again for November.