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New Jersey Accepts More Than $1 Billion in Wagers in a Single Month

New Jersey sportsbooks enjoyed an incredibly successful month setting an all-time record for the largest sports betting handle in a single month. 

According to the latest revenue report from the New Jersey Division of Gaming Enforcement, the state’s licensed sports betting operators reported taking in $1,011,114,311 in wagers throughout the month of September. 

This brings the year-to-date handle for New Jersey to an impressive $7.14 billion—almost $1 billion more than the entire of 2020—and puts the state on track for a record-breaking year. With three months of 2021 left, the NFL and NHL seasons in full swing, and the NBA season about to get started, there’s a genuine possibility that New Jersey bettors could push the state’s sports betting handle to $10 billion for the year. 

September saw sports betting activity increase by 52% from the previous month’s handle of $664.6 million. 92% of the state’s betting handle came through mobile sports betting apps which reported accepting $918,443,445 in wagers during the month. This was a 49.8% increase in mobile betting from the previous month. 

Meanwhile, retail sportsbooks took in $92,670,866 in wagers up from the $51,809,334 reported in the previous month. 

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Combined sports wagering revenue for both mobile and retail operators came to $82.4 million for the month. This was an increase of 82.9% on the same period in 2020 but it must be noted that the market was working under significant restrictions during that time. 

The New Jersey Division of Gaming Enforcement also revealed that the state’s casinos posted combined gaming revenue of $248.5 million for the month, a 30.4% increase on September 2020. The casino’s internet gaming revenue amounted to $122.6 million for the month. Sports wagering revenue for casino operators totaled $34.02 million resulting in total casino gaming revenue of $405.1 million. 

Borgata led the casino market posting $111.8 million in gaming revenue for the month. This was made up of $60.2 million in casino revenue, $45.7 million in online gaming revenue, and $13.4 million in sports wagering revenue. Hard Rock was the closest competitor with $48.6 million in revenue of which $41 million was revenue generated by slots and table games. 

The state’s licensed racetracks posted wagering revenues of $48.4 million. Meadowlands Racetrack was the market leader once again generating revenue of $41.25 million accounting for 85.2% of racetrack wagering revenues. 

Gross retail revenue taxes for the month came to $17,312,725 while retail sports wagering taxes totaled $834,912. Internet gross revenue tax amounted to $18,467,702 while internet sports betting taxes totaled $9,337,335. This resulted in the state collecting combined taxes of $45,952,674 meaning that New Jersey has now collected $351,058,699 in taxes since the start of 2021.

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