Wednesday, November 17, 2021

Parlays account for the majority of New Jersey'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. Through October, it was $335.2 million. 


If you bet parlays, you know how hard it is to hit them. You'll hit one and keep chasing that win you told all your friends about. That's the allure. 

That's also why they're so profitable for sportsbooks.