New Jersey's Sports Wagering Turnover Reaches New Peaks in August as Online Rises Too

New Jersey’s sports betting revenue rose an astounding 174% on annual level in August. Land-based casino and online gambling markets also saw their respective turnovers boosted in The Garden State.

NJ’s regulated sports betting revenue collected $25.2 million in revenue – that’s significantly more than July’s $17.9 million and a far cry from last year’s August’s $9.2 million.

Sports Figures

Sports betting handle reached $293.6 million…

…out of which, a lion’s share of it – $249.2 million – was generated through online sportsbooks. The remaining $44.4m, of course, came through land-based operators.

As was the case in previous months, it was the FanDuel sportsbook, operated in Meadowslands Racetrack, that led the way in of revenue. They contributed to the overall share with $11.9 million.

Runner-up was DraftKings-powered Resorts Digital – they were quite behind with $6.7 million, while William Hill’s sportsbook at Monmouth Park came up third with $2.1 million.

Looking at the entire year, from August 2018 to August 2019, New Jersey sports betting generated a revenue of $152.7 million out of $2.53 billion in punters’ wagers.

Online Gaming on the Rise As Well

But it wasn’t only sports wagering that NJ benefited from…

…it was also online gambling which saw further growth of the iGaming market in this state. The revenue climbed up from last August’s $24.8 million to this August’s $41.1 million. That’s a 65.7% increase. In July, the figure amounted to $39.3m.

State operators have online casino games to cite as their main source of income, again, as revenue from these totaled $39.4 million. Poker revenue for the month of August was slightly lower than last year – $1.7 million.

New Jersey’s online gambling market leader is still Golden Nugget – they contributed with $15m. Second placed was Resorts Digital with $7.4m and Borgata with $7.1m.

Land-based casino revenue rose 6.1% year-on-year to $286.5m (from $269.9m). The most successful land-based property was Borgata which collected $71.9m. Hard Rock came second with $31.7m, followed by Harrah’s $31.1m.

BetMGM App Launched in NJ

Merely days ago, Roar Digital LLC announced the launch of their rebranded BetMGM online gaming app in New Jersey.

Roar’s CEO, Adam Greenblat, has said that the company is “thrilled to give our customers bigger and bolder opportunities to enjoy the games and unique experiences that BetMGM will provide as the professional and collegiate football seasons get underway.”

Colombia Via New Jersey

Rush Street Interactive has launched AGS’ social gaming content in both jurisdictions of Colombia and New Jersey, simultaneously.

Richard Schwartz, the company’s president, has said that they are the first operator in the Americas to add AGS game content to their engaging library of game titles. He argues that AGS’ games deliver the identical look, game features, and play mechanics as their popular land-based counterparts, which are entertaining players and delivering strong returns across North America.

Source:

“New Jersey sports betting revenue rises again in August”, igbnorthamerica.com, September 13, 2019.