Author: Dean Carr
Last Updated: 19th March 2022
The red-hot interest in sports betting in New Jersey continued throughout the month of October as the state broke the national record for bets taken for the second consecutive month.
It was revealed that October saw more than $1.3 billion worth of bets placed across the state’s sports betting handle, with it also being the second month running that more than $1 billion worth of bets were placed.
In September they totaled $1.01 billion worth of bets that Atlantic City’s nine casinos and the three horse tracks that provide sports betting took in, with that figure being blown out of the water in the most recent takings.
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It has left onlookers waiting with bated breath to see what November’s total equates to and reinforces the importance of the opening of their bordering state, New York. Earlier this month, New York chose the nine operators that would be allowed to offer sports betting services to residents when the market opens.
Their target is to be up and running in time for the Super Bowl in February, but this could in turn see the New Jersey handle take a hit if sports bettors from New York no longer have to cross the state border to place their wagers.
$1.2 billion of the total $1.3 billion wagered came from online services, while this month’s total has now taken New Jersey’s overall handle to just under $8.5 billion worth of bets taken in for the whole of 2021.
Mobile sports betting has played a huge role in the record-breaking numbers, with $1.17 billion (90.5%) being wagered from bettors on their phones. That also represents a new mobile sports betting record for a single month, smashing the previous best of $929 million in December 2020.
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October’s record-breaking numbers represent a 28.9% increase on the previous month’s totals and is 62.3% above the $743 million amount recorded for the same month in 2020. They have no doubt benefitted from a busy sporting schedule over this period of the calendar that includes the MLB Playoffs and the NFL, NBA and NHL regular seasons all being underway.
“Atlantic City has effectively extended its momentum from the summer into the fall season,” said James Plousis, chairman of the New Jersey Casino Control Commission.
“Five casino-hotels surpassed their brick and mortar results from October 2019 and the other four were within striking distance. All of the operators have the tools that are needed to successfully compete in this market.”