Sportsbooks in New Jersey are reporting that bets have exceeded $1 billion fourth month in a row

In December 2021, New Jersey’s online and retail sportsbooks took in $1.23 billion in wagers, the fourth month in a row that the state has surpassed $1 billion in wagers.

Although the total fell short of October’s $1.30 billion, online casinos did manage to break their sales record last month, with a total of $133 million.

In the meantime, the number of bets placed increased by 24% from December 2020, with sportsbooks earning $59 million in gross income, down 11% from December 2020. The total sales earned $8.9 million in national and local taxes.

However, such high numbers may be in jeopardy, according to PlayNJ, which tracks gaming trends in the state. With the opening of mobile sports betting in New York earlier this month, New Jersey’s position as the country’s largest online sports betting market may be jeopardised.

“It’s fitting that New Jersey’s sportsbooks concluded the year on a near-record pace,” said David Danzis, an analyst for PlayNJ.com. “However, December may be the last billion-dollar month in New Jersey for the foreseeable future.” “The state’s sportsbooks have already defied predictions, and the operators will make modifications to guarantee that New Jersey stays one of the country’s top markets.”

New Jersey’s retail and internet sportsbooks took in $10.9 billion in wagers in 2021, the most of any US state. In comparison to 2020, the volume was boosted by 82 percent.

The total revenue was $815.8 million, with $122 million coming from state and local taxes. Both numbers indicated a 105 percent increase from 2020.

“New Jersey’s uncontested leadership of the US market will be recognised in 2021, even if that status proves to be fleeting,” said Eric Ramsey, an analyst with the PlayUSA.com Network, which includes PlayNJ.com.

“In the coming year, New York will almost probably take over the top spot, while New Jersey may fall behind Nevada and others.” Even so, sports betting will continue to be a significant source of revenue for the state.”

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