NJ sports betting revenue dips despite record handle in November

Sports betting revenue in New Jersey fell 29.1% month-on-month to $32.9m (£24.6m/€29.5m) in November, despite the state processing a record amount of wagers during the month.

Revenue was down from a record $46.4m in October, but the November figure was up by 54.8% on a year-on-year basis from $21.2m in the same month last year.

Sports betting handle for November came in at $562.7m, up 15.3% from the previous record of $487.9m in October of this year. Online was again by far the most popular form of sports betting, with $486.7m wagered over the internet and $75.9m in-person.

Record handle also meant that New Jersey processed more sports bets than Nevada in October ($542.5m). However, the revenue total of $32.9m meant New Jersey was some way behind the $47.9m generated by Nevada in October, with Nevada yet to announce its November results.

Read the full story on iGB North America.