The New Jersey Division of Gaming Enforcement released the official sports betting figures for November 2022. The report shows that the NJ sports betting handle for the month surpassed $1.1 billion in sports bets. This is the third highest handle NJ sportsbooks have reported this year.
New Jersey Betting Booms
November’s totals push the overall betting market to $9.9 billion on the year. The market is likely to surpass $10 billion in 2022 once the December numbers are accounted for. This is the fourth month that New Jersey operators saw more than $1 billion in bets for 2022. November is only beaten out by January’s $1.35 billion in bets and March’s $1.12 billion in wagers.
The NJ sports betting handle shows that the market remains strong despite the success of New York’s mobile sports betting market. Despite losing the customer base from the Empire State, NJ sportsbooks still rake in a steady flow of bets on their own.
NJ sits as the second biggest sports betting market in the US in terms of action consistently. The expected losses from the New York legalization have not killed New Jersey in the manner experts initially predicted.
Sports Betting Overall Booming
NJ and NY aren’t the only markets seeing successful betting numbers to close out the year. Maryland recently launched mobile sports betting and saw massive numbers to close out November. Over $186 million in mobile bets were placed in just nine days of activity.
Indiana also reached a major milestone in November with over $10 billion in lifetime bets reported. This came off of a $452.3 million November betting handle. The US sports betting industry is continuing to balloon into 2023.
Sports betting in 2022 has grown larger than ever before and 2023 is gearing up to continue the trend of expansion. There are no signs of the betting market slowing down anytime soon. New Markets like Ohio and Massachusetts are expected to add to the growing market.