Impressive numbers continue in terms of New Jersey’s sports betting industry. Last month, the New Jersey betting revenue saw a remarkable 43.6% surge (GGR), according to Division of Gaming Enforcement figures. In April, gross gaming revenue totaled $72.3 million, which is up from $50.3 million in 2021. This brings year-to-date gains for 2021 to an incredible 40.6%. Basically, sportsbooks in the state are getting an income amounting to $292.3 million this year alone. If anything, these numbers should inspire you to read up on bookie tutorials to get started in the sports betting industry.
Of course, New Jersey is one of the biggest sports betting industries in the country. Sportsbooks in New Jersey are capable of generating hundreds of millions in handle each month. They are also capable of breaching a billion dollars during peak months. Those who are looking for the best bookie pay per head in 2023 should keep track of the trends from betting in New Jersey. That way, you not only have the best bookie software, but you also know what to expect in terms of the betting industry trends and prepare for what will happen.
New Jersey Betting Revenue and Handle: The Numbers
New Jersey’s legal sports betting industry is continuously experiencing immense growth. According to recently-released figures from New Jersey’s Division of Gaming Enforcement, April gross gaming revenue in NJ shot up 43.6%. This is compared to April 2022, reaching an impressive $72.3 million. This marks a 40.6% increase year-over-year for total profits of $292.3 million over these first four months of 2021 alone. Although the sports betting handle decreased from March to April, operators still have a 8.7% hold percentage for April. This gives us a 63% increase in the win rate from 2022.
The betting handle was $833.9 million, which is lower compared to March’s incredible handle of $1.03 billion. But then again, March historically tends to generate the highest handle, mainly due to March Madness betting. So if you want to be a bookie, start getting a good sportsbook pay per head software so that you will have your bookie business running smoothly before next year’s March Madness season.