Revenues in NJ Sportsbooks Down Recording $1.2 Billion in Bets

 Revenues in NJ Sportsbooks Down Recording $1.2 Billion in Bets

During the month of December, New Jersey residents bet a total of $1.2 billion on sports. During the month, the books earned $59.0 million.

This was the state’s fourth successive monthly handle of a billion dollars.

Revenues, on the other hand, plummeted in December. Compared to November’s record-breaking $114.8 million, which represented a 9.1 percent hold, sportsbooks generated $59 million, marking a 4.8 percent hold.

NJ set a new record in 2021, with over $10 billion spent on sports throughout the year, a significant increase over the $6 billion gambling in 2020. It should be mentioned. However, sporting events in 2020 will be restricted globally owing to the pandemic.

Bettors fared far better than they did in November when bookmakers won a record-breaking $114.8 million in the United States. Sportsbooks instead made $59.0 million in total revenue, down 11.1 percent from $66.4 million in December 2020. State and local taxes totaled $8.9 million as a result of this revenue.

Football earned $398.8 million in wagers in December, the most of any sport. Basketball was the source of $384.4 million in bets. In December, online sportsbooks took in $1.1 billion in wagers, accounting for 90.3 percent of the state’s total transaction. With $27.6 million in total revenue, FanDuel/PointsBet/SuperBook once again dominated the online market, down from $59.0 million in November.

In November, $119.3 million was wagered at retail sportsbooks, up from $114.0 million in November. With $2.4 million in revenue, Meadowlands/FanDuel dominated the retail market.

In September, New Jersey became the first state to reach $1 billion in bets in a single month.

Tyler Newton

Tyler Newton is working as a senior editor for the last few years in our organization. He has good analytical skills as well he wrote excellent content related to the gambling industry. He also likes to click pictures of nature.

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