New Jersey Sportsbooks Set Handle Record Again in November
Kirby Lee-USA TODAY Sports. Pictured: MetLife Stadium
New Jersey sportsbooks took in $562.7 million in bets in November, breaking their record set last month by $75 million.
November’s handle is just $34 million short of the all-time record handle set by Nevada in March 2019.
Nevada’s numbers aren’t in for November yet, but New Jersey has a shot to win head-to-head as it has done three times this year. Despite the first full year of legalization everywhere else, Nevada is still expected to break its record of just north of $5 billion in handle that was set last year.
New Jersey should finish the year at around $4.5 billion in bets in 2019, which would mean that the Garden State is already seeing bettors bet more than 80 percent of what Nevada takes in (through November, New Jersey’s 2019 handle sits at $4 billion).
Out of the $562 million bet in New Jersey in November, 86.2 percent of it was done online or through mobile betting.
New Jersey sportsbooks made $32.9 million in November and are projected to close the year with around $300 million in net revenue.
The largest player is FanDuel, which runs the Meadowlands race track. It has made $135 million so far this year in New Jersey. Then comes DraftKings, which pulled in the lion’s share of the $70.2 million made by Resorts Digital so far this year. William Hill has the No. 3 market share, having brought in $23.3 million online and at its sportsbook at Monmouth Park racetrack.