New Jersey Sports Betting Reaches Record Heights in September With Handle, Revenue Rise

New Jersey’s sports betting scene is going form strength to strength, with September being the strongest month yet for this vertical since its launch last year. The total revenue reached the record-high $37.9 million while a total handle doubled on annual level.

The amount wagered has increased 142.2% from September last year, to $445.6 million. This has coincided with the start of National Football League season on September 5th. These figures were disclosed by New Jersey Division of Gaming Enforcement.

Online Betting Rules

The big majority of these bets were staked via online channels…

…in fact, online contributed with $374.2 million of market’s total handle (84%), while retail, in-person wagering is responsible for the remaining $71.3 million.

When looking at a 12-month period in total, New Jersey players have placed $2.97 billion in wagers. $2.44 billion of that was wagered online.

When it comes to operators’ performance, leading the way again were Meadowlands, FanDuel and PointsBet sportsbooks. Their revenue increased $134.2% year-on-year for a total of $16.9 million.

Runner-up was Resorts Digital, whose partners such as DraftKings and The Stars Group helped collect $10.7 million in turnover, which is 26% higher than during same period last year.

In third place, Monmouth Park (that has a William Hill sportsbook) amassed a $3.4m in revenue, which is 52.2% higher than last year. Following closely was another William Hill-powered sportsbook, that of Ocean Resort, whose revenue doubled to $3.1 million.

Some Have Declined

However, there were some losers among the flock of winners…

…such as Harrah’s, that reported the biggest losses of the lot. This venue, which is operated by Caesars Entertainment, saw its sports betting revenue decline 62% to $118,102. Golden Nugget also fared badly; their income is 56.4% smaller than last year and was $487,438 in September.

Likewise, The Borgata’s revenue fell 41.2% to $1.5 million.

Online Gambling Rising Too

As for the online gambling vertical per se, NJ boasts another strong month. The revenue in this vertical rose 59.7% to $41.1 million. Golden Nugget offset bad sports betting performance with a strong one in this segment, with a monthly total of $15.6 million which

In second place is Resorts Digital/The Stars Group whose online gaming revenue jumped 160.3% to $8.9 million. In third place, Borgata had a strong year as well. Their September income rose 52.5% to $7 million.

In total, NJ’s online casino revenue is up 57% for the period of January 1st until September 30th. The total amount is $339 million.

September may have been a good month for sports betting and online gaming in Jersey…

…but the same cannot be said for land-based vertical whose turnover declined 3.2% to $224.5 million. Land-based segment’s most successful casino was Borgata, while coming in second place was Hard Rock Atlantic City.

Source:

“New Jersey smashes revenue and handle records in September”, igbnorthamerica.com, October 16, 2019.