New Jersey Sportsbetting Wagers Hit $500 Million

New Jersey's sportsbetting market continues to grow, as punters wagered $260 million in October, up 40% from the month prior.

The total sees New Jersey having placed $597.4 million in bets since sportsbetting was implemented in June. Online bets were up 67% to $174.4 million, and land based bets totaling $86 million. Operators made less though, raking in $11.7 million in profits.

$5 million online was taken in by Resorts Casino, which hosts the DraftKings and BetStars brands. FanDuel revenue came in at $3.5 million. A company spokesperson for FanDuel said, "October was a great month. Demand for the FanDuel Sportsbook continues to outpace our expectations with online handle 2.5 times higher than September and continued double digit growth in retail handle.

"It was an exciting month for bettors who won at a high rate on football."

Sportsbetting is continuing to grow in the United States, with Pennsylvania working on launching the activity, as is Rhode Island. Other states are in the process of legalizing the activity, which was okayed by a Supreme Court decision earlier this year.