NJ Shatters Monthly Nationwide Sports Betting Handle Record

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The online sportsbooks of the Garden State of  New Jersey posted a record-breaking August 2020, posting a new nationwide record for sports betting handle in a single month at $668 million, clearly defeating the previous record month, which Nevada held at $614.1 million in November 2019.

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It’s a number that might not take long to tumble, with the NFL (traditionally the most popular betting for Americans) having begun in September.

The Garden State’s sports bettors were out in force in August, like never before (Sports wagering in New Jersey for August 2020 was up 56.7% compared to August 2019), and enjoyed wagering on the new NBA and NHL  playoffs formats in their late July season reboots, continuing into August. Remember, there were not only new formats, but also innovative programming schedules that in the early rounds provided wall-to-wall live sports programming from early afternoon into the late hours almost every day. As FanDuel NJ NJ spokesperson, Ken Hennessy summed it up nicely;

It was good to have sports back in August. The NBA and NHL bubbles and MLB’s strong return gave sports betting in New Jersey the needed boost to a record month.”

Major League Baseball (MLB) also began its shortened season in late July; the PGA Tour had five tournaments throughout August, including one major in the shape of the PGA Championship; and Mixed Martial Arts (MMA) was highlighted by the UFC 252 three-peat bout between heavyweights Daniel Cormier and the eventually triumphant, Stipe Miocic.

Baseball generated $150 million in bets for the month, while basketball added $166.2 million Other sports, including hockey, generated $204.9 million.

NJ Online Sports Betting the Biggest Winner of all in August 2020

The percentage of those New Jersey sports wagers coming online versus in person at physical sportsbooks will put a smile on the CEOs of the state’s online sportsbooks. Despite bricks-and-mortar being open in August at 25% capacity and under certain public health restrictions, online sports wagering represented $601.9 million of the NJ total versus $66 million coming in-house. In other words, that represents approximately 90% of the betting handle coming online in its many formats. It’s a number that simply shows no sign of abating. Prior to the impact of the global health pandemic, New Jersey’s online sportsbooks took in between 80 to 90 % of the state’s sports betting handle online/mobile for 14 consecutive months. Then the pandemic struck, and the online numbers instantly climbed.

As a collective unit, New Jersey’s online sportsbooks took in around $39.5 million of the dollars wagered as revenue in August 2020 (roughly 5.9%) and around $10 million more than the previous month of July. The “win” also generated $4.9 million in state taxes for funding the New Jersey State Budget and consolidated revenue.

Online Casinos also up in NJ in August

The betting handle report from the New Jersey Division of Gaming Enforcement (DGE) also clearly showed the growth in Garden State’s licensed online casino and poker industry. Operators reported combined revenue of $87.77 million in the month of August 2020, more than double the $41.1 million generated in the same month in 2019.

August’s online casino revenue total also narrowly edged past the previous monthly record of $87.5 million in July in NJ. Online casino revenue rose by an astonishing 115% to $84.7 million and even online poker increased by 77.7% to just over $3 million.

For New Jersey year-to-date, online gambling revenue has amassed just under $598 million, a 100.7% increase on the first 8 months of 2019. Online Poker is up 96.2% to $28.3 million, while online casino revenue jumped 101% to an impressive $569.7 million.

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