Ever since it was just a distant dream, regulated sports betting in New Jersey seemed destined for success. After all, New Jersey came into the game with a mature gambling market, a dense population, and legions of fans rooting for a variety of regional teams. But even the Garden State’s most dreamy-eyed optimists could hardly have pictured the reality of legal sports betting and the record amounts of revenue it would pull in month after month.
That said, September 2020 served up another record breaking month for sports betting with an astonishing $748.6 million handle. It shattered New Jersey’s previous record month, which was August 2020, by a full 12 percent. That number also represents a monthly record for any regulated sports betting market in the United States.
At Legalsportsreport.com, points out that Nevada’s regulated markets would need to leap by 57.6 percent from August to meet New Jersey’s new sports betting bar. In all fairness, Nevada is one of the least densely populated states in the US while New Jersey is one of the most densely populated.
Part of New Jersey’s success story revolves around mobile betting. Fully 90 percent of all those legal wagers was placed via a mobile device. While that doesn’t do much good for the guy taking betting slips in a struggling Atlantic City casino, it’s definitely better than nothing.
Not surprisingly, the record September numbers have set forth the prospect of a billion dollar handle in October. Given the fact that NFL season will be in full swing and several college football conferences that didn’t play at all in September will be fully online in October.