There is no doubt that the sports betting market is really starting to take off in the USA. Since the US Supreme Court’s historic PASPA decision in 2018, more and more US states have begun to make betting on sports legal. Of course, New Jersey is at the forefront of this and was a major driver in initially taking the case to legalize sports betting to the Supreme Court.
This also meant that New Jersey was one of the first states to allow betting on sports and to fire up its local sports betting industry. By getting into the game early, sports betting in New Jersey has stolen the lead on other states and in turn built up a more mature sports betting sector.
Official sports handle figures are key to pinpointing how sports betting is performing across the country. New Jersey is no exception and their sports handle figures are usually pored over by many in the sector, due to how crucial this state’s performance is to sports betting in general. With the figure for December 2020 being recorded as $6,016,968,399
, it seems that betting on sports in this state remains on the up.
Although 2020 has been a challenge for many sectors, some have come out of it looking better than others. A quick look at the sports handle figures for Jersey in the last twelve months certainly shows this to be true for sports betting there. November 2020, for example, reflected a sports handle of over $900 million, which was a record-busting amount at the time.
The latter part of the year also saw sports betting there enjoy a magical upward ride. It hit record amounts over three months running – from $748,588,349 in September 2020 to $803,196,072 in October 2020, and $931,620,415 in November 2020. With December’s figure topping these and continuing the run, it looks like there are no stopping sports betting in the state. This is, of course, great news for the whole sector, which can look forward to a bright future, based on the figures from New Jersey. With Iowa‘s $100 million sports handle in December, this seems to be the case overall.
The New Jersey sports handle of $996,300,794 for December 2020 could well be explained by a few key factors. Firstly, December is smack-bang in the middle of the festive season. This is the period when people usually take time off work – which means they have more free time to fill, through sports betting.
Of course, December is also a busier month than usual for some sports, and this means there can be more games played. Whether it is football or soccer, the busier schedule gives bettors more games to bet on and so leads to increased handles.
You also have to look at the ongoing COVID-19 pandemic when considering why Jersey has seen another sport handle the rise in December. Although likely to continue to create challenges to pro-level sports in the USA, any COVID restrictions on daily life have caused people to use sports betting more than ever as a way to stay entertained.
It will be no surprise to anyone that online wagering is still a major player in terms of how people like to bet. Whether it is online sportsbooks or mobile apps, the access and ease that this market brings to sports betting is immense. November’s figures showed this to be true, with $872.1 million in sports handle coming from this source, with retail only accounting for $60 million. This general trend has also been seen in the breakdown of December’s figures.
In terms of the most popular sports to bet on, December has seen the trend from the previous months in 2020 continue. Football is the major sport that New Jersey residents like to back – this was evidenced by the record $433.3 million in bets placed on the sport in November, and a similar picture is true for December 2020.
Overall, these latest sports handle figures clearly show that the sports betting market in the state remains buoyant. When you look at the overall performance in 2020 (discounting a couple of COVID-hit months around March/April), it also seems clear that the overall trend for sports betting in Jersey is positive.
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