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By Pat Evans
A busier than normal August has led to New Jersey setting a single-month record with $668 million bet.
Previously, Nevada held the most bet in a single month with $614.1 million worth of wagers in November 2019. The August handle is up 127.5% year-over-year. The previous New Jersey record was $445.6 million set last September.
Mobile continues to climb in importance, as $601.9 million — 90% of the total — was bet online.
“New Jersey’s robust and mature online market is a clear advantage over every other jurisdiction, including Nevada, which relies more on in-person betting,” PlayNJ analyst Eric Ramsey said in a release. “A full schedule of major sports in August, generating huge interest, has only highlighted the fact that New Jersey is better positioned to withstand the challenges of the pandemic.”
Normally, baseball is the month’s driver, but the “other” category led the way in 2020. Attracting $204.9 million, that betting category includes the NHL, golf and UFC, among other sports. Basketball drew $166.2 million.
August revenue grew 56.7% year-over-year, to $39.5 million, with DraftKings and PointsBet leading the way with $17.6 million in revenue.
With the NBA and NHL playoffs running into September, the MLB postseason race heating up and the NFL in action, September could set another record.
Year-to-date, $2.5 billion has been bet in New Jersey, with 91% of that coming from online betting.
Indiana also reported its August figures, with bets jumping nearly $100 million over July to $169 million. Iowa increased 120.1% to $50.3 million and West Virginia tripled to $45.9 million.
