New Jersey sports betting market continues to expand as sportsbooks take in record bet in October.
According to the figures released by the state Division of Gaming Enforcement, the total betting handle was $487.9 million in October, up from $445.6 million handle in September.
Mobile sports betting contributed to the majority of the revenue. The state saw $417 million in betting handle from mobile sports betting apps across the state. The figures represent 85.4 percent of the total revenue from sports betting operations in October.
When compared with the revenue generated during the same period the previous year, the state’s sportsbooks reported a 297% increase in October 2019.
Until October, September was the best month the New Jersey sportsbooks had since the state legalized sports gambling last year. A total of $445 million was wagered on sporting events in September.
According to the figures released by the state Division of Gaming Enforcement, the New Jersey club and circuits made almost $38 million on their September wagers. The surge in the betting handle is also attributed to the NFL season.
Online wagers brought $41.1 million in income for the club in September, which was up about 60% when compared with Sept. 2018.