US Sportsbooks Pushed To Record-Breaking Month In September
In September, more legal bets were placed at U.S. sportsbooks than ever before. September marked the first month of the NFL 2019 regular season, and combined with more markets offering legal sports betting, it was the perfect storm for sportsbooks to see an all-time high.
Combined, U.S. sportsbooks took in a nearly $1.4 billion handle in September, setting a new record, Fox Business reported. The two largest markets in the nation contributing to that near $1.4 billion were New Jersey and Nevada’s Las Vegas sportsbooks.
Las Vegas Sportsbooks Back on Top
In June 2018, just days after the federal ban on sports betting — the Professional and Amateur Sports Protection Act of 1992 (PASPA) — was struck down, New Jersey started offering state-regulated sportsbooks. Just over one year later, the Garden State took in more money in May 2019 than Nevada’s powerful Las Vegas sportsbooks.
From May to August, New Jersey saw more sports betting action than Las Vegas three of the four months. Many sports bettors and industry professionals have even named New Jersey as the new sports betting capital of the nation. However, in September, Las Vegas saw more bets placed at its sportsbooks than New Jersey’s.
Of the combined $1.4 billion in wagers placed last month, 40 percent of those bets came from Las Vegas in the amount of $546.3 million, the third-largest handle in its history. Las Vegas sportsbooks saw a revenue of $52 million for the month.
NJ & PA Sportsbooks Set Records
More sports bettors laid action at New Jersey sportsbooks in September than in any other month since legal sports betting started in June 2018, taking in a record-breaking $445 million. The New Jersey Division of Gaming Enforcement reported that the state saw revenue of nearly $38 million.
One of the reasons New Jersey has become a destination for sports bettors is because of its vast online and mobile options. While New York implemented sports betting in July 2019, it doesn't offer mobile sports betting.
The Garden State offers more mobile sports betting options than any other market. Of all the wagers made in August in the Garden State’s online sportsbooks, 20 percent of them were placed by New Yorkers traveling through the state.
New Jersey took in more than twice the amount in sports bets than neighboring Pennsylvnia, though the Keystone State also saw a record-breaking handle. The Pennsylvania Gaming Control Board reported that the state’s sportsbooks saw $194.5 million in September.
Out of the near $200 million handle, the Pennsylvania gained $19.3 million in revenue. It nearly doubled the handle in online bets last month, going from $83.21 million in August to $158.15 million in September.
With the NFL, NHL and NBA regular seasons in full effect, many industry professionals are projecting that the nation’s sportsbooks will see even a larger handle for the month of October.
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