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New Jersey Sportsbooks Push Annual Revenue to $1 Billion in 2023

New Jersey Sportsbooks Push Annual Revenue to $1 Billion in 2023

When you create a sportsbook, your goal is always to ensure a good bottom line. Getting a regular stream of revenue through an online sportsbook business is ideal for those who either want to work remotely, or if you want to manage a small business part time. Seeing your revenue grow is any bookie’s goal, something that New Jersey sportsbooks easily attain.

According to the numbers from the New Jersey Division of Gaming Enforcement, we have a 31.9% year-on-year increase in sports betting gross revenue from 2022 to 2023. Back in 2022, the total revenue was at $763 million. In 2023, the number grows to $1.01 billion. The final push to reach the billion-dollar mark is from December’s revenue. For December 2023, the total gross revenue is at $109.4 million. This is 24.8% higher than that of December 2022’s $87.7 million.

New Jersey Sportsbooks Perform Well in 2023

New Jersey Sportsbooks Push Annual Revenue to $1 Billion in 2023Using the best sportsbook pay per head software, you can easily see the data as to where your revenue comes from. For New Jersey, basketball is the most popular sport people bet on, with $2.6 billion year to date, with football coming in at a close second at $2.3 billion YTD. Baseball comes third at $1.5 billion YTD. Parlays are at $3.06 billion, and other bets are at $2.3 billion. This brings the total year to date handle at $11.9 billion.

New Jersey offers both online and retail sports betting. Out of the total handle, retail betting is at $527.9 million, with online wagering at $11.4 billion. The popularity of online betting is why providers like us at continue to deliver top quality sportsbook software. With a billion in revenue for 2023, industry insiders are optimistic that 2024 will be an even better year for sports betting.


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