The New Jersey bookie industry sees a dip in betting handle for the first time in months. And, if you keep track of bookie news, then you will also notice that this is the first time since August that the New Jersey monthly sports betting handle will drop below the $1 billion mark. Let us take a look at the betting numbers for the New Jersey sports betting market in their latest monthly report.
While the state reports a decrease in handle, it is still quite a steep amount that those who want to be an online bookie would dream to have. The total monthly sports betting handle for New Jersey for February is $985.6 million. This is a whopping 26.9% lower than January’s $1.3 billion. But the industry is still doing well, as we see a year-on-year increase of 32.7% from February 2021’s $743 million.
New Jersey Bookie Industry
Of course, we also want to take a closer look at the mobile handle, which is very important for those in the bookie pay per head industry. For February, the state’s online sportsbooks report a $899.6 million handle. This is 25.6% lower than January’s $1.2 billion. It is, however, still remarkably higher than February 2021’s $689.2 million by 30.5%. Mobile sports betting takes up 91.3% of the whole betting market in the state.
So why are we seeing lower numbers for February? Aside from the Super Bowl, there are really not a lot of games during this month. Even more, college basketball, which is popular during this time of the year, is not all that accessible to New Jersey bettors as there are certain limits to betting on college sports in the state. Some experts also believe that with New York now offering mobile sports betting, New Jersey may see less people crossing borders to place bets, which was a popular option for New Yorkers in the past.