State’s sports betting going from strength to strength
New Jersey has registered a record $445m in sports bets made during September. This is the largest monthly intake since sports betting became legal in the state in June 2018.
The net revenues for the sportsbooks and racetracks in New Jersey for the month amounted to $38m. The main driver of these figures was the college and pro football seasons beginning their new seasons.
the largest monthly intake since sports betting became legal in the state
The previous monthly betting revenue record was $31.9m, which was set in March.
Continual growth
Year-on-year, the sports betting handle in September saw an increase of over 142%, with 84% of the $445m in bets coming through online sportsbooks. Just $73.1m came from bets made at retail sportsbooks.?
Leading sportsbooks for September
The leading license holder in terms of revenue from sports betting in September was Meadowlands. The sportsbook has sub-licenses with PointsBet and FanDuel, garnering a total revenue of $16.9m for the month.?
Next in line was Resorts Digital, with its Fox Bet and DraftKings sub-licenses seeing a combined monthly revenue of $10.7m.
In third place was Monmouth Park, with its partner William Hill seeing revenue of $3.4m. Just behind in the rankings was the Ocean Resort Casino, another partner of William Hill, reaching $3.1m in revenue from sports betting.
A good month for online gaming too
It was not just the sports betting market that had a good month in September, as the online gaming market tied the previous monthly revenue record of $41.1m.
The main driver of growth year-on-year was the online casino market, with revenues increasing by 63.6%, up to $39.5m.
The Golden Nugget’s online casinos led the market with revenues of $15.6m. Next was Resorts Digital Gaming with its partners, the Mohegan Sun Casino, Fox Bet, and DraftKings. These parties generated combined revenues of $8.93m. In third place was the Borgata group of online gambling platforms with total revenues of $6.96m.?
Dominance in the sports betting market
The latest figures from the New Jersey Division of Gaming Enforcement show how the Garden State continues to be a force in the national sports betting space.?
the Garden State continues to be a force in the national sports betting space
Its main competitor in this regard is Nevada, with both states going back and forth in recent months to top the monthly rankings. Nevada still holds the record for the highest monthly intake for sports betting, which was over $600m during March 2019.
New Jersey benefits from getting a lot of traffic from New York, with many New Yorkers crossing state lines every week to place bets on their mobile devices.