Online sports betting has been steadily growing in the US, with a huge increase from 2018-2019. The PASPA repeal has brought about new laws on different states in the US legalizing sports betting. And while public knowledge has been increasing, the pay per head and online betting market has been steadily growing in revenue and market reach. New Jersey’s numbers is one of the best examples that parallels the growth of the market, which mirrors pay per head info as we see an increase in player signups for bookies all over.
For the month of November, New Jersey makes a new record in a $562.7 million worth of total handle. The numbers are 15% higher than October’s $487.9 million. Net revenue is at $32.895 million. Its year-to-date revenue is already at $270 million. And with the surge in activity seen even in bookie pay per head services, the number is most likely to breach the $300 million mark as the year ends.
Pay Per Head and Online Betting Market
New Jersey is a great example for showing the promise of a great online sports betting market. In November’s handle, $486.8 million was made through online betting. This means online sportsbooks took in 86.5% of the total handle for the month. Those who want to be a bookie can easily get a pay per head for agents. The bookie software can help bookies manage their players and their lines as well. Even though 2019 is wrapping up, popular sports leagues like the NFL and the NBA are barely into the playoffs.
And if anyone is still doubting the growth of the industry, the numbers are showing that we are not even close to maximizing the potential betting market in the US. We are, however, seeing a great opportunity and perfect timing to joining a growing industry. For example, November 2018 only had our net revenue for New Jersey sports betting at $21.243. 2019 shows a 54.85% growth with $32.895 million.
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