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New Jersey Sportsbook February Update

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New Jersey Sportsbook February Update

New Jersey is one of the states you will frequently see in our 9dollarperhead blog, since the state has been proving how profitable the sports betting industry is. Those with a good PPH sportsbook will know the best ways to earn money through sports betting. And while in New Jersey, the industry has been breaking records every month, February 2019 is a little different.

According to the numbers released by the New Jersey Division of Gaming Enforcement, or the DGE), February has performed poorer than January of 2019s. January 2019 shows a betting handle of $385 million. Meanwhile, February 2019’s handle is at $320.4 million. As for betting revenue, February is lower at $12.7 million compared to January’s $18.8 million.

New Jersey Sportsbook Numbers

There could be any number of factors that could cause a decline, or an increase in the handle and revenues. Of course, the number of bettors and the amount of wagers are a big factor. But in this case, it was sports events for the month, and the number of days February has. February has 28 days, which is 2-3 days less than all the other months. This can have a small effect in the total figures.

Looking at the sports events for February, there was some action from the Super Bowl, of course. Super Bowl has a $35 handle for the month, but the sportsbooks lost a total of $4.6 million. Meaning, bettors were really, really good with their Super Bowl wagers. The Academy Awards also had a little action, with $748,000 in wagers. Sportsbooks have a good 2.4% hold at $182,000 in revenue.

The NBA action was also gone for one week, due to the All-Star week break. The numbers for March will, of course, tell us if the trend will continue to go downward. Or, it could also prove that February’s numbers was a fluke, or an effect of a lack of sports activity to wager on.

 

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