Last updated on March 15th, 2020 at 07:58 am
New Jersey continues to show the world how a healthy gambling industry can bring in a lot of revenue for the bookies, as well as revenue for the state. January’s handle starts well with $540.113 million, with the New Jersey February handle around 8% lower at $494.81. But these are good numbers, especially for February.
But the real achievement here is the 54.5% increase in total handle when we compare this February from February 2019’s numbers. To those who want to know how to become a bookie, any increase more than 50% of handle is nothing short of amazing. Of course, as a new bookie, one would want to know why.
New Jersey February Handle Doubles
As we mentioned earlier, the total handle from February this year and last year gives us a 54.5% increase. But online sports betting is the true star here. Last February 2019, the total online handle for New Jersey is $258.8 million. This 2020, we are seeing a 68% increase to $436.49 million. Becoming an online bookie now is a great opportunity to enjoy a growing betting industry worldwide.
While online wagering is growing, retail sports betting is on a decline, and has been for some time. February 2020’s retail handle is $58.32 million, which is 5.4% less than February 2019’s $61.49 million. Retail betting takes only 11.8% of the February 2020 handle. Online wagering gets the lion share of 88.2%, which is higher than January’s 87.2%.
Of course, the handle for February is still lower, mainly due to the available sports events for the month. For instance, the Super Bowl is the only football game for the month. Football is one of the highest-bet on sports in the US, so their break means lower betting action from regulars. You can learn more about betting behavior in our bookie PPH blog.
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