New Jersey Sees $930 Million Betting Handle: Hits Another Record in 2020

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New Jersey continues its sports betting domination in 2020. The Garden State posted its state report on Monday, and it impressed for a third straight month.

New Jersey saw $931,620,415 in bets for November, breaking another single-month record for the fourth straight month. In August, New Jersey broke the Nevada record from November 2019 with a $668 million handle. The state benefitted from three major U.S. sports going on for a single month.

September felt like another record-breaking month with football coming back, and it did not disappoint with a $748.6 million betting handle. Certainly, there would be a bit of a dip with limited MLB playoffs, limited NBA finals action, and no NHL playoffs. Nope, October hit $803.1 million for the month, giving the state an 8.5% increase from September.

As the state continued to near a $1 billion betting handle for a single month, it would’ve had to wait until 2021 since November only saw football and some college hoops action.

Again, the Garden State surpassed expectations and hit $931.6 million for November.

New Jersey by the Numbers

New Jersey officially brought in $931,620,415 for November and increased the YTD total to $5,020,981,945 for 2020. $872.1 million, or 93.6% of the bets, came from mobile devices. Atlantic City and other sportsbooks are at limited capacity due to COVID-19. This is helping mobile betting be the main driver in New Jersey’s betting success.

The state also collected $30,565,051 in taxes thanks to record-setting month, and have collevted $268,811,686 for 2020.

Parlay betting and ‘other’ sports combined for $230.4 million of the betting handle, which was the biggest driver for November. Football brought in $35.7 million, and it allowed the state to see over $1 billion wagered on the sport in 2020.

Surprisingly, basketball had a higher betting handle in November than football did with $38 million in bets. This is surprising as football is king in the U.S., but the New Jersey numbers certainly say differently in November. The basketball handle could be a positive sign for a $1 billion handle in December, especially with a full month of college hoops and the NBA returning on December 22.

$1 Billion in December?

The Garden State will need to see at least a $64.5 million increase in the betting handle to be the first state to hit the $1 billion betting handle for a single month.

The increase seems like a lot, but it is possible the way New Jersey has been dominating the fall sports betting season. New Jersey has seen increases of $80.6 million, $54.5 million, and $128.5 million month to month in the previous four record-setting months, averaging an $87.9 million increase each month.

This certainly gives New Jersey a legitimate shot at $1 billion for December. The Garden State will also have another full month of professional and college football to take advantage of, along with a full month of college basketball. The NBA starts back up on December 22, which will bring in more bets in the final 10 days of 2020.

With only a third of the month having NBA action, it could be enough for the state to hit the historical mark before 2020 is over.

If New Jersey could see a $128.5 million increase from October to November with fewer sports going on, then adding the NBA and a full month of college hoops can definitely get it to a $1 billion betting handle.