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New Jersey posts record sports betting handle for August

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NJ Bet August

New Jersey Sports’ betting grab for August broke previous US records

Sports betting in New Jersey set one new land record in August for the total settlement in a single month, incoming at $ 668 million. It beats the previous record, which was Nevadas a total of $ 614.1 million, that was recorded in November 2019. Featuring a full schedule of NBA, MLB and NHL games all returning in August, New Jersey passed by the previous record in Nevada. It also smashed its previous record, which was $ 562.7 million in November 2019.

For August, the total share in New Jersey was $ 667,979,150, one 112% increase of the total posted for July, which was $ 315,118,805. In August of last year, the New Jersey sports betting deal was $ 293,594,862, so 2020 has seen a 127.5% increase. The state Gaming Enforcement Department has released these figures.

The total online handle for the major New Jersey Sportsbooks August was $ 601,942,486, up 103.5% from Julys at $ 295,804,327, and up 141.5% from the same point last year. According to the figures, mobile betting continues to grow enormously, accounting for 90% of the total number of sports betting in August.

Major Sports Return increases the numbers

One of the main factors in the increase in numbers was the return of major league sports. August is traditionally the month when baseball shines when basketball, hockey and football are eliminated; however, it was not the largest contributor to handling last month.

That honor belongs to the ‘other’ category, which includes sports that aren’t baseball, basketball, soccer, and parlays. Total “other” events and activities totaled $ 204.9 million in August. Specific sports such as UFC, golf, and table tennis has become more prominent because of the pandemic, and the ‘other’ grip also explains all bets on the NHL.

Basketball was August’s top individual sports, worth $ 166.2 million across all basketball events. Baseball was not far behind with a $ 150 million bet on completed events. Parlays also had significant success in August. Completed parlay event handling was $ 144.9 million.

Other states are enjoying an increase in sports betting

It’s not just New Jersey that had a decent August in terms of an increase in sports betting. Two other states have more than doubled their handles for the month. Iowa registered total sales of $ 50,313,674, an increase of 120.1% from Julys’s $ 22,859,622.

The other state that will be happy with the August total is Indiana. The Hoosier State posted a 138% increase in the total number of sports betting for August, $ 169,018,238, compared to the July total of $ 70,876,622.

Chances are, these records will not last long. September sees the return of the NFL, with sportsbooks offering various NFL betting options and special offers for their customers. Last September, the New Jersey sports betting contract was $ 445.6 million, setting a new record at the time. Gamblers put in a total of $ 188.6 million on completed football events that month. It’s a guessing game about how the market will react after the pandemic. It’s possible that pent-up demand could lead to large numbers being wagered on sports like the NFL, NHL, and the NBA.

follow us on twitter @BuienRadarNL to keep up to date with the latest legal information news about casino and sports betting in the U.S.

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