New Jersey sports betting handle jumps to $95.6m in August

New Jersey’s regulated sports betting market handled total wagers of $95.6m in August, more than twice the volume handled in the previous month.

Figures released Wednesday by the New Jersey Division of Gaming Enforcement (DGE) show the nine sports betting licensees – six casinos, two racetracks, one purely digital operation – that were taking wagers in August attracted $95.6m in total handle, a significant improvement from the $40.7m the state’s then-three (two, really) betting licensees handled in July.

The DGE reported sports betting revenue of just under $9.2m in August, although, as previously noted, the DGE’s definition of ‘revenue’ includes wagers that are still pending, such as futures, as well as “unredeemed winning wagers” that laggard bettors haven’t got around to collecting.

The DGE says revenue from “industry completed events” since regulated betting began in late June is just over $7.2m, representing a nearly 5% hold of the market’s total handle of $146.1m.