New Jersey’s sports-betting revenue continued soaring as this season’s first full month of NFL football brought in record figures.
According to the New Jersey Division of Gaming Enforcement, gross revenue from sports-betting in September rocketed $37.9m. That put it a stunning 59.3% up on the $23.8m grossed in September last year.
Total sports-betting handle for last month also continued climbing steeply. The State’s 17 online sportsbooks helped haul in total handle of $445.6m. That was staggering 51.8% up on Augusts’ $293.6m.
Online betting, mostly via mobile apps on smartphones remained the major source of NJ’s sports-betting handle.
For the third month in a row it accounted for at least 84% of it. This time it was $374.24m as against an in-person retail total of $71.31m.
New Jersey’s year-to-date total sportsbook handle is now $2.97 billion. However, it still has three months of football to come and basketball is getting into full swing. So yes, it’s well-set to eclipse last year’s $3.5 billion.
New Jersey Sports-Betting could overtake Nevada year-on-year
It could also overtake the long-established US betting Mecca of Nevada in the 2019 year-to-date handle race.
Nevada, whose financials for September have still to be released, was still ahead year-to-date in August.
However, the Garden State had topped its handle in three of the past four months and was clearly reeling it in.
And this is for at least three good reasons.
Records show that online sports wagering is the way to go in this age of the internet revolution.
It is illegal to bet across state lines and New Jersey’s population of around 9 million far exceeds Nevada’s 2.3m.
Nevada has many more Casinos and betting shops than New Jersey. But it can’t match NJ’s powerhouse line up of online sportsbooks.
Nor does it have strong support like NJ gets from near-neighbors New York. The Big Apple has 8 million people with no online betting of their own.
FOX Bet, Bet365, the Score, Unibet launch in NJ
And the launch last month of FOX Bet, Bet365, theScore Bet and Unibet can only put New Jersey further ahead.
Of the 17 online sportsbooks, the bulk of which have strong international links, FanDuel continued to lead the New Jersey betting market. It was followed by fellow sports fantasy giant DraftKings and British betting titan William Hill.
No separate breakdown is ever announced by New Jersey’s authorities. However, online sportsbooks are the major contributors (+80%) of the handle attributed to the Race Tracks and Casinos under whose license they operate.
This said, we note that Meadowlands race track to which FanDuel is licensed, outperformed its rivals by some distance.
Meadowlands (FanDuel) were credited with revenue in August of $16.93m as against the $10.72 of Resorts Casino (DraftKings).
Monmouth Park race track (William Hill) was third with $3.36m and Oceans Resort (also William Hill) fourth with $3.15m).
Borgata Casino (Play MGM and William Hill) with $1.48m was the only other NJ gaming establishment to exceed one million dollars in sportsbook revenue in August.
