New Jersey has done it again, setting a new state record for sports betting handle at $803.1 million during October. This shattered the previous state record of $748.6 million set in September, and it also set a new mark for the entire sports betting industry in the United States.
This was a $54.5 million increase from the previous month, which was 7.3 percent higher than the September total. New Jersey has established itself as the clear leader in the sports betting industry, but the numbers continue to amaze.
The New Jersey Division of Gaming Enforcement released these numbers on Friday, and it also marked a clear boost over the 2019 October numbers. Total sports betting handle was up more than 64% from October 2019, and it appears that New Jersey is on a path to go over the $1 billion mark soon.
Total Gaming Revenue Up
Not only did the sports betting industry in New Jersey see an increase in handle and revenue, but the entire gaming industry did as well. New Jersey also offers iGaming, and that industry has performed much better than other states in the US as well.
Total gaming revenue in New Jersey was up 4.6% from September, and it was up more than 15%from a year ago. These percentages might not seem like much, but it adds up quickly when dealing with the amount of money that New Jersey is bringing in each month.
Mobile Sets New Record
Mobile betting continues to be extremely popular in New Jersey, and that portion of the industry set a new record as well. Mobile/online betting accounted for more than $743 million during the month of October, which was an increase of more than 9%.
In addition to the huge increase from September, the October 2020 numbers were up more than 78% from the 2019 October totals. Mobile betting continues to climb, with new operators joining the industry each month.
Other States Setting Records
New Jersey wasn’t the only state setting records in October, and it shows that the entire sports betting industry in the United States is growing. The US industry posted a sports betting handle of more than $2.8 billion during September, and it is likely to go over $3 billion in October.
Indiana and Iowa both recently released their sports betting numbers, and the Midwest portion of the United States continues to grow. Each state set new state records in October after posting high numbers in September.
Indiana’s sports betting handle for October was $230.9 million, which was up more than 11% from September. Gross revenue was also up in the state, setting a new record at $21.1 million.
Iowa’s sports betting handle was $81.9 million for October, and both revenue and mobile handle was up as well. Iowa still has an in-person registration requirement in place, which has hurt the industry.