New Jersey Sports Betting Handle Increases in May

May is a nice rebound month for the New Jersey sports betting market as its handle increases by almost 9%. Many in the gambling software solution industry also saw an increase in sign-ups and in betting action as more sports events are filling up the calendar.

The total sports betting handle in New Jersey for the month of May is $814.27 million. This is 8.9% higher than April’s $748 million. And, if we look at the year-on-year data, we are seeing a 591% increase from May 2020’s $117.82 million. This is the third highest betting handle for the state in this year alone. Meanwhile, revenue for the betting market is at $52.895 million, down 3.5% from April’s $54.839 million.

New Jersey Sports Betting

The New Jersey sports betting market inspires so many to learn how to become a bookie. Given how large the betting market of New Jersey is, majority of its wagers are always from online sportsbooks. The total mobile sports betting handle of the state is $734.65 million. This is 7.9% higher than April’s $681.2 million. Betting through bookie software takes up 90.2% of the total sports betting handle.

May was a good month for sports betting with the basketball, baseball and hockey leagues taking up a lot of the action. And with the New York Knicks, the Brooklyn Nets, and the New York Islanders giving out great performances in May, its expected to generate higher numbers in the state.

And while the numbers are good, hopefully residents will also be able to bet on college sports events that happen in the state. Currently, betting on college events in New Jersey is not allowed. Depsite the fact that it could boost action from local bettors. However, a recent bill that passed now allows betting on New Jersey college teams. In addition, there is a similar bill that will allow voters to vote this November if they would like this to be allowed.

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