New Jersey Sportsbooks Log Increase in Handle This October
The numbers are in, and again, New Jersey does not disappoint. Sports betting in the Garden State has skyrocketed since its launch last year. It has also become the poster boy of sorts in proving how profitable the sports betting industry can be. A lot of PPH sportsbook operators have also been seeing an influx of new bettors, replenishing a once aging betting market. Awareness on sports betting is opening up a whole new customer base for any sportsbook. And for US sports betting this October, New Jersey sportsbooks recorded a total of 9.5% growth from last month.
This means a total handle of $445.6 million from September increased to October’s $487.9 million. New Jersey is also popular in gambling circles for pioneering online sports wagering, particularly in the East Coast. And this month, we see an 11.4% increase for online sports betting, while retail sports betting has decreased from $71.3 million to $71 million. The total online handle was $374.2 million in September, and increased to $417 million for October.
New Jersey Sportsbooks Reaching New Heights
As for the net revenue, October’s numbers are at $46.39 million, which was 22.4% higher than September’s $37.88 million. The total handle is at $487.9 million from September’s $445.6 million. Meanwhile, the online betting handle was $374.2 million in September, and is now at $417 million in October. And online betting options are continuing to generate a lot of action among residents and bettors from neighboring states.
For October alone, 85% of the action collected by sportsbooks were from online and mobile wagers. The NBA, NFL, and collegiate sports leagues’ seasons are barely into the season, so experts are optimistic of gaining better numbers in the months to come. And with the top sportsbook pay per head for agents making everything easy for anyone who wants to be a bookie, one can focus on any sports league and earn a handsome profit in this season alone.