Sports Betting Dime follows all the latest updates as the market in New Jersey continues its explosive growth. Heading into 2021, NJ shows no signs of slowing down.

This is a full 28 percent of the entire annual US sports betting handle in one state.ĭespite the challenges of the COVID-19 pandemic, the New Jersey sports betting market saw year-over-year growth of 31 percent in a record-setting 2020. After recording more than $4.5 billion wagered in 2019 – the first full calendar year of legal betting – New Jersey finished 2020 as the largest sports betting market in America with over $6 billion in wagers placed. The New Jersey market has seen steady growth since its launch in June 2018. We’ll keep you informed with the essential data and analysis of monthly New Jersey sports betting revenue reports. The table below shows New Jersey’s sports betting handle, gambling revenue, and hold percentage, as well as state tax revenue collected each month since legalization.

State tax revenue displays taxes collected by the state and local jurisdictions.

Hold percentage shows how much revenue sportsbooks kept as a function of the betting handle.

Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winning bets.

Handle refers to the total amount wagered on sports.

We’re keeping track of monthly New Jersey sports betting revenue reports from the first legal bets in June 2018 to date.įor clarity, here’s what each number represents: New Jersey Sports Betting Revenue: Month-by-Month Data Read on for an in-depth look at the business of sports betting in New Jersey. Will NJ stay ahead in 2021, or will Vegas come roaring back as the pandemic recedes?īelow you can scroll back in time to see the growth of sports betting in the Garden State. New Jersey finished 2020 with the highest annual sports betting handle of any state, surpassing Nevada by more than $1.5 billion in wagers placed. The industry is thriving thanks to New Jersey’s successful court case that resulted in the Professional and Amateur Sports Betting Act (PASPA) overturn and effectively made it possible for states other than Nevada to legalize sports wagering.

New Jersey was destined to be a leader in the US sports betting market.

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