New Jersey Sports Betting Report: Good Numbers Despite Lean Month

July is one of the leanest months in the sports betting industry. A few of the most popular sports leagues are out for the season, so the pickings are a bit slim. But despite this, New Jersey’s first full month of legalized sports betting did great. Our New Jersey sports betting report will tell you about the handle for this month.

The numbers discussed in this report comes from the biggest sportsbooks and casinos in New Jersey. While the action is far from what a regular bookie will see, it will answer your question on how much do bookies make. In the case of New Jersey, the five sports books of their state had $41 million worth of wagers for July. The winnings for the sports books were around the $3.8 million mark. Since sports betting in the state started in June, they now have a $576 million wager mark to date. It is low, compared to Nevada, with $280 million worth of wagers made in June. But the numbers are not bad, given the small number or sportsbooks.

Sports betting report: New Jersey’s promising future

The total handle for July is around $40,682,237. Handle means the total amount of wagers. The revenue for July is a total of $3,831,14. Revenue is the income sportsbooks get after paying out the winning bets. But the problem here, is that the outstanding tickets are also included as part of the incomes. Outstanding tickets are winning bets that are not claimed yet. Also, wagers on futures are still included in the revenue reported in New Jersey.

Of course, this is just the second month of sports betting in New Jersey. And when the popular sports leagues start in the next few months, the action will go up. One of the biggest factors that we have not mentioned yet, is online sports betting. Online and mobile sports betting in New Jersey does not start until August, so we still won’t have data on the numbers. This new category of revenue for sports betting might lead the generation of revenue until the market is established.