New Jersey Stretches Ahead As Sports Betting Leader
Now that most states have reported their official revenue figures for October, the picture is clear. US sports betting is growing even faster than expected and New Jersey is leading the way. The Garden State saw a staggering $803 million wagered in October. This easily surpassed the previous NJ record set in September of $748 million.
September Set the Standard
Some thought that the record volume of sports betting in September was an anomaly caused by pent-up demand. This was a reasonable assumption as September was one of the most unusual and action-packed months ever for professional sports.
The NBA playoffs which had been delayed due to Covid were in full swing. The MLB regular season was coming to a conclusion and the expanded postseason began in the last week of September. The Stanley Cup finals were taking place. And if that wasn’t enough, the NFL season kicked off in the middle of the month.
National sports betting handle in September was just shy of $3 Billion
Sports fans were clearly enjoying the return of sports betting. When the numbers were tallied for September, the sportsbook handle for the month was a new record of $2.87 billion across the country.
In fairness, October was not short of high-level sporting action either.
At the start of the month, the Lakers and Heat were battling for NBA finals supremacy. The baseball playoffs, featuring more teams than usual, were progressing leading to the World Series which began on October 21st. NFL was well underway and NCAA football had also begun in many places.
It is still remarkable to see that October will likely top $3 billion nationwide sports betting handle once all states have reported. The New Jersey total of $803 million was a chunk clear of Nevada with $660 million. Third highest was Pennsylvania with a handle of $526 million.
Currently, Indiana with $231 million and Colorado with $211 million round out the top five. However the official Illinois figures are released a few weeks later than these states. Considering the fact Illinois had a handle of $305 million in September it is very likely to take the 4th spot when it does report.
Sports Betting Handle – Top Five States
|New Jersey||$803 million||New Jersey||$748 million|
|Nevada||$660 million||Nevada||$575 million|
|Pennsylvania||$526 million||Pennsylvania||$462 million|
|Indiana||$231 million||Illinois||$305 million|
|Colorado||$211 million||Indiana||$207 million|