New Jersey Handle Continues Gains, Adds 111.97 Percent in August
- The monthly revenue handle from NJ is one of the clearest signs in the nation as to the state of the fledgling sports betting industry in the US
- The numbers released today for August show a grand total of $667,979,150 a 111.97% increase from July.
- The NJ Division of Gaming Enforcement is tasked with controlling sports wagering in NJ and releases these monthly handle reports
New Jersey’s status as the first domino to fall in the sports betting industry means that sports betting in the state is the most mature in the nation making the monthly revenue reports from the Division of Gaming Enforcement a clear temperature reading for the rest of the US.
Today’s release of the August sports wagering handle shows a continued recovery and interest in sports betting in the United States from the ongoing coronavirus pandemic.
August Gains Solidify Growth Trend
Continuing off of July’s stellar addition of 90.96% to the handle from June is likely a reaction to the (then) upcoming excitement of the return of the NFL, the biggest sporting event in the United States, and the one with the most excitement behind it.
This increase will likely continue to eventually break pre-pandemic numbers as the reports for September and other NFL active months come closer into view.
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Growth to Continue Unabated?
With numbers like this indicating a return to the pre-pandemic figures of over half a billion in monthly handle it becomes a question of not whether the figures are in the lens of recovery only but rather a return to the pre-pandemic figures when the total amount wagered by New Jersey sports bettors continued trending upwards.
Is it too late to announce a return to normalcy with these apparent gains? The short answer is yes. In such a volatile ecosystem like the one where American sports are operating in now, it is unclear even if the NFL will finish out their season uninterrupted by a sudden and uncaring second wave of covid-19.
What is clear is that sports bettors want to keep betting on something and in a time when there is less to bet on those who feel the desire to wager on sports will surely find an avenue to do so. In the meantime, those looking to practice their picking skills can enjoy the free-to-play WSN Pick’ em Contest where they have a chance to win a $200 Amazon voucher every month.