Just one month after becoming the first state to reach $1 billion sports wagers handled in a single month, New Jersey has beaten its own record, hitting $1.3 billion sports bets handled in October — a 30% monthly increase.
Since January, the state has recorded nearly $8.5 billion worth of sports bets.
One of the 18 states that allow mobile betting, about 90% of New Jersey’s October bets were placed online, totaling $1.18 billion of the $1.3 billion. The rest were placed at physical sports books.
Sports betting revenue rose 44% year-over-year to $84.1 million.
- More than half of the revenue made in the state was from bets placed at the Meadowlands Racetrack, winning over $44 million in October.
- In September, the Associated Press mentioned the NFL season as a reason for the rise in sports wagers.
- The American Gaming Association expects 45.2 million Americans to bet on the NFL season — a record for the sport and 36% more than last season.
New Jersey brought in $45.8 million in gaming taxes in October, just under the $46 million in rake-in the month before. Year-to-date, the state has brought in $396.8 million in gambling-related tax revenue.