![]() ![]() The profit from casinos, racetracks, and their partners in sports betting was $84.2 million in October, according to the New Jersey Division of Gaming Enforcement. The handle for sports betting this year on completed events is almost $8.4 billion. New Jersey does a ton of business on sports betting. (AP Photo/Scot Tucker) (ASSOCIATED PRESS) Parlays account for a lot of sports betting Many NFL bettors like betting parlays each week, and sportsbooks profit from them. Here's New Jersey's win percentage on each category of bets through October, based on the total handle the sportsbooks take in for each: It just wins at a faster rate with parlays. Here's the breakdown on New Jersey's year-to-date profits via the state's figures though October: That's also why they're so profitable for sportsbooks. You'll hit one and keep chasing that win you told all your friends about. If you bet parlays, you know how hard it is to hit them. Think about that before you play that five-teamer hoping for a big score. That means parlays account for about 55.1 percent of the state's overall profit on sports betting. The New Jersey Division of Gaming Enforcement put out its October figures on Wednesday, and other than the sheer volume of sports betting in the state, the most startling number might have been how much of the house's profit has come from parlays.
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