New Jersey Becomes First U.S. State to Record $1B Monthly Sports Betting Handle
New Jersey has become the first U.S. state to generate more than US$1 billion in sports betting in a single month by taking in US$1.01bn in wagers in September.
That total broke the U.S. record of US$996.3 million that New Jersey had set in December 2020. September’s volume was up 35.1 per cent from the US$748.6m generated in September 2020 and up 52.1 per cent from $664.7m in August.
The milestone came as New Jersey also set a new high for online casino revenue, helping to push the state to the total gaming revenue record (US$453.6 million).
Gross gaming revenue in September just missed an all-time high, too. Operator revenue rose 82.9 per cent to US$82.4m in September from US$45.1m in September 2020 and 58.5 per cent from US$52m in August. September’s revenue was just short of the previous high of us$82.6m in January. Sports betting produced us$12.1m in state and local taxes in September.
New Jersey crossing the $1bn threshold has been a long time coming, as sportsbooks in the state combined to generate at least US$930m in wagering in November, December, and January. September’s record total has been boosted by the return of the NFL and the NHL.
Bettors wagered US$918.4m in September through online sportsbooks, representing 90.8 per cent of the statewide handle, the second-most of all time. Retail sportsbooks attracted a record US$92.7m in September, up from US$51.8m in wagers in August.
New Jersey sportsbooks have already shattered their annual records for revenue and wagers, producing US$558m in revenue on US$7.1bn in wagering through the first nine months of 2021. With the final three months holding baseball’s postseason and the return of the NBA’s regular season debut, a strong finish to 2021 could push wagering past US$10bn for the year.