NJ continues to break sports betting records in October

Licensed sports betting operators in New Jersey generated $46.4m (£36.0m/€42.1m) in collective revenue for October, representing yet another new record total for the state, with market handle also hitting a new high of $487.9m.

Revenue surpassed the previous record of $37.9m, which was set in September. The October figure also represented a year-on-year rise of 297.8% on the $11.7m posted in the same month last year.

New Jersey’s sports wagering handle in October comfortably surpassed the existing record of $445.6m, which was also set in September. Handle was up 87.14% year-on-year from $260.7m in October of 2018.

However, it remains to be seen whether the Garden State can surpass amounts wagered in Nevada, after falling behind in September. For that month, Nevada’s sports betting market revenue hit $52.1m, with handle of $546.4m. Prior to September, New Jersey had performed better than Nevada in every month since June.

Figures from the New Jersey Division of Gaming Enforcement (NJDGE) show that the majority of sports bets were placed online, with players spending $417.0m on licensed platforms. In contrast, retail spend stood at $71.0m for the month.

Read the full story on iGB North America.