$931 Million Wagered in New Jersey in November

Published on December 16th, 2020 1:03 am EST
Written By: Dave Manuel



New Jersey capitalized on the first-mover advantage when it comes to sports betting in the US. Nevada is no longer the sports betting capital of the United States.

That title now belongs to New Jersey, as the state set yet another national record (fourth straight) for total sports betting handle over the course of a month.

In the month of November, New Jersey bettors wagered a total of $931 million on sports, easily topping the previous record of $803 million.

This brings New Jersey's total monthly sports betting handle total to nearly $1 billion, a mark that will always surely be shattered in February when the Super Bowl takes place.

New Jersey's sports betting handle of $931 million in November translated into a little over $50 million in revenues for the companies that currently operate in the state.

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New Jersey was instrumental in getting the federal prohibition on sports betting dropped in the United States.

When the Supreme Court allowed states the opportunity to offer sports betting if they so chose, New Jersey was ready to go, and they were one of the first states to offer legal sports betting to residents and visitors to the state.

This first-mover advantage paid off for the state, as they have quickly become the sports betting capital of the United States.

Things will change when other states in the area (namely New York) legalize sports betting themselves, but for now, New Jersey is enjoying the benefits. Many New Yorkers will simply travel to New Jersey to place their bets, and the state of New York seems as though they will have sports betting legislation soon, as they don't want to miss out on this new stream of revenue.

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