New Jersey has done it again, setting another new sports betting handle record for the month of December. Total sports betting handle checked in at $996.3 million, just a few million shy of reaching the $1 billion mark for the first time.
The December total was an increase of nearly seven percent from November when the state saw $931.6 million in total handle. Year-over-year saw an increase of nearly 80 percent, and it appears that 2021 will be an even bigger year for the sports betting industry.
During 2020, New Jersey sportsbooks saw over $6 billion in wagers placed, which easily shattered the previous record. Nearly 92 percent of all of the wagers in 2020 were placed online or through a mobile device, again setting an industry record.
Total sports betting revenue in December was $66.4 million, which was an increase of more than eight percent in November. Total gaming revenue was more than $312.9 million as the entire iGaming industry in New Jersey continues to flourish.
Online Also Shatters Record
Online sports betting during the month of December totaled $929.3 million, which was also a new industry record. New Jersey is the only state to post a total handle of over $900 million, and the online portion is now lapping other states.
New Jersey continues to see new online operators entering the state, and that trend is going to continue into 2021. PlayUp has secured market access into New Jersey and will look to launch online sports betting in the coming weeks.
In December, online betting accounted for more than 93 percent of all wagers.
New York Looking to Legalize
New Jersey could soon face some serious competition as lawmakers in New York have finally gotten the support they needed to pursue legalizing online betting. Governor Andrew Cuomo has finally given his blessing to launch online betting as the state is dealing with a huge financial crisis.
There is still plenty of work to be done in New York, and it’s not a guarantee that online sports betting will launch at any point in 2021. Governor Cuomo has also hinted at running the online sports betting through the lottery, which would limit the number of sports betting options in the state.
Midwest States Also Set Records
Not all of the states have reported December totals at this time, but two states in the Midwest have already set new state records. Indiana went over the $300 million mark in total handle for the first time, and Iowa went over the $100 million mark.
Total sports betting handle in Indiana was $313.1 million, an increase of more than 25 percent. Online betting accounted for more than 86 percent of all of the wagers.
Iowa’s total handle was $104.8 million, and it was the fourth straight record-setting month for the Hawkeye State. Online or mobile device betting accounted for 74.5% of all of the wagers placed in Iowa.
