The Garden State has settled back into a billion-dollar groove.
The New Jersey Division of Gaming Enforcement reported on Friday that the state's retail and online sports betting sites handled $1.1 billion in wagers during November, up slightly from the $1.06 billion booked for October.
Approximately 94% of New Jersey sports betting action last month was placed over the internet, as online wagering was responsible for $1.03 billion in handle in November. The remaining $69 million was bet at casinos or other brick-and-mortar wagering locations.
Drifting lower
Recent wagering in New Jersey is still trending below the numbers the state’s sportsbooks put up during 2021, which is due in big part to New York launching mobile wagering in January of 2022.
In November of 2021, for instance, the state's sports-wagering handle hit $1.26 billion. In October of 2021, it had been $1.3 billion.
Gross revenue reported by New Jersey sportsbooks for last month was $80.4 million, down 29.9% from a year earlier but up slightly from October's $77.9 million.
Unsurprisingly, Meadowlands Racing and Entertainment was the top sports-betting licensee in New Jersey in terms of monthly revenue for November. The racetrack and its online sportsbook partners — FanDuel, PointsBet, and SuperBook Sports — generated $48.8 million in receipts during the month.
