NJ Sports Betting Keeps Breaking Records – $803 million!

The September 2020 sports betting handle record for New Jersey didn’t last long. This week the Garden State released their sports betting numbers for October and the numbers easily surpassed September’s mark.

In October, New Jersey’ sportsbooks reported a record handle of $803 million in total wagers placed. That’s a $54.4 million increase from September’s previous record of $748.6 million. It’s also up 65% year-on-year, compared to the $315 million the state reported back in October 2019.

By some considerable margin, the majority of New Jersey’s $803 million handle was wagered online. Slightly less than $744 million was bet online, compared to only $59 million wagered at the state’s land-based sportsbooks.

That rounds out to an incredible 93% of all New Jersey sports wagers being made online for the month, also a record.

With the stunning October 2020 figures, the sports betting handle in the Garden State surpassed the $4 billion barrier. With still two months left to report in 2020, it seems only a matter of time until New Jersey rips past the $4.6 billion in legal wagers placed in 2019. That 2019 number appears set to fall with release of the November 2020 results, leaving a full month to go to reach a new 12-month record high.

Breaking Down New Jersey’s New Record Sports Betting High

 After promotional credits and costs were determined, New Jersey sports betting revenue raised during October was $58.5 million. Leading the way as the best licensed property Meadowlands and their two online sportsbook partners, FanDuel Sportsbook and PointsBet Sportsbook which reported just under $30 million in revenue between them.

Finishing up just behind the leading FanDuel/PointsBet online team was the Resorts Atlantic City and their partners, DraftKings and FOX Bet with $14.6 million.

Checking out the rest of the Top 5 in revenue for October 2020 were;

  • BetMGM, Borgata and their land-based sportsbook license holder located at the Borgata Hotel & Casino with $4.3 million.
  • Monmouth Park Racecourse and their partners SugarHouse, William Hill, theScore Bet with $4.1 million and;
  • Oceans Casino (also powered by William Hill for the first full month in October) with $3.3 million.
  • 888Casino numbers were not available but are also expected to have increased.

 NFL & College Football leads the way in New Jersey

 Football betting continued to dominate sportsbook betting in October. Almost 35% of the total sports betting handle, or $279 million was bet directly on NFL and College Football games during the month.

That already impressive wagering total for football does not include parlay bets which are considered a separate category by the state’s gaming regulator, the New Jersey Division of Gaming Enforcement (NJDGE). Parlay wagers accounted for just over 21% of the October betting handle, or $171.5 million.

Another interesting statistic for discerning online bettors to take into account are the Year-to-Date Bets Wins Statistics for each sport throughout the year.

For example, Football wagers are by far the most popular form of sports bets in New Jersey, but significantly only 3.3% of all football bets placed are winning ones, the lowest across all the popular sports bets types recorded by the NJDGE.

If you really want to attempt to increase your opportunities to win, it seems Parlays wagers are the ‘winningest’ wagers with 13.3% of all wagers placed becoming winners. Across all sports recorded by the NJDGE, the Year-to-Date win rate numbers are enlightening;

Football Wager Win Rate – 3.3%

Basketball Wager Win Rate – 4.3%

Baseball Wager Win Rate – 4.7%

Parlay Wager Win Rate – 13.5%

Other (includes Hockey, MMA, PGA Tour Golf, NASCAR, EPL and MLS Soccer etc.) – 5%

Overall Sports Betting Win Rate so far in 2020 in NJ – 6.3%.

NJ Legal Betting Sites

Betting Site
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888Sport
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Sugar House Sportsbook
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FanDuel
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Borgata Sports
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BetMGM Sports
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Caesars Sportsbook
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First Deposit Bonus up to $300
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