New Jersey December Sports Betting Handle Just Misses $1B

New Jersey December Sports Betting Handle Just Misses $1B
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New Jersey’s December sports betting handle finished just shy of $1 billion, but the state set three national records for a month.

The Garden State topped $900 million for the second straight month in total sports betting handle, hitting $996,300,794 for December. That was up 6.9% from November ($931.6 million) and an increase of 78.6% from December 2019 ($557.8 million).

The total handle at New Jersey sportsbooks for 2020 was just over $6 billion ($6,017,707,104), a 30.4% increase over 2019 ($4,582,941,931). Of the total handle in 2020, $5.53 billion was wagered online — about 92%. Sports wagering revenue for 2020 was $398.5 million.

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The online/mobile handle in December was a national record of $929.3 million, an increase of 6.6% over November’s $872 million, and up 90.1% from December 2019 ($488.9 million). Mobile was 93.3% of the total sports handle in December, according to the state report.

New Jersey Sports Betting, December vs November

Total handle Mobile handleRevenue
December $996.301M $929.332M $66.387M
November $931.620M $872.076M $50.555M
Change Up 6.9% Up 6.6% Up 31.3%

Several Key NJ Gaming Numbers Increase

The December report also showed that New Jersey sports betting revenue made a bounce-back performance with $66.4 million, up 31.3% from November ($50.6 million) and up a whopping 125.6% from December 2019 ($29.4 million). That was another national record, beating Nevada's mark of $61.8 million set in November.

December total gaming revenue was $312.9 million, up 8.3% from November’s $288.9 million and an increase of 8.9% over December 2019 ($287.3 million).

The iGaming win in December was $99.45 million, up 8.3% from November’s $91.82 million and up a 101.6.% from December 2019’s $49.3 million.

New Jersey Sports Betting, December 2020 vs December 2019

Total handle Mobile handleRevenue
December 2020 $996.301M $929.332M $66.387M
December 2019 $557.786M $488.931M $29.425M
Change Up 78.6% Up 90.1% Up 125.6%

Wakeup Call for New York

The handle has steadily risen in New Jersey since August, from $668 million that month, to $748.6 million in September, $803.1 million in October and the $932 million in November. The return of the NFL helped fuel those New Jersey increases, but so have New York bettors who crossed the state line to place their bets.

Seeing the New Jersey figures should weigh heavily on New York Gov. Andrew Cuomo, who last week said he wants to see mobile sports betting legalized in his state. But he dampened enthusiasm by saying that "we want to do sports betting the way the state runs the lottery. Where the state gets the revenues.”.

That model, which has struggled in other jurisdictions, runs counter to bills from New York State Sen. Joseph P. Addabbo, Jr.-D (15th State District), chairman of the Senate Racing, Gaming And Wagering Committee, and J. Gary Pretlow (District 89), chair of the Committee on Racing and Wagering in the Assembly. They would like to see multiple operators to help grow the online market, a model that has worked in other states, especially New Jersey.

More details on Cuomo’s plan are expected before he presents his budget document next week.

Another NJ Online Sportsbook on the Way

Australian-based PlayUp, an online betting and entertainment company that provides sports betting, horse racing and daily fantasy sports, will enter New Jersey, its second U.S. market. It plans to launch in the first quarter of this year.

It acquired a sports betting license in New Jersey by signing an agreement with FR Park Racing, LP, which is the sports wagering certificate holder and operator of Freehold Raceway in Freehold, according to a news release Tuesday.

Tipico, the leading sports betting provider in Germany, went live in New Jersey in early December, marking its debut in the U.S. market. It had announced in late September that it had received NJDGE approval.

Iowa, Indiana Set Records in December

December is shaping up to be a big month in sports betting handle in the U.S.

On Tuesday, Indiana announced that its December total handle topped $300 million for the first time ($313.1 million). It was a 25% increase over its previous November record handle.

The mobile handle accounted for 86% of Indiana’s total sports wagering market in December.

In Iowa , the total handle for December went over $100 million ($104.8 million) for the first time. It was the fourth straight month that Iowa had set a sports betting handle record. Of the total, 74.5% was wagered on mobile.