New Jersey, the USA’s new betting Mecca of the East, is still breaking records halfway through its second year.
It did it once again in November, according to the New Jersey’s Division of Gaming Enforcement (DGE).
Figures released by DGE this week showed New Jersey’s sports betting intake soaring by $74.8 million to a new peak. In its second season of football and basketball, it went from $487.9m in October to $526.7m in November.
The Garden State’s brigade of18 online sportsbooks were also in a record-setting mood. They took the percentage of November’s online betting handle to a highest -ever 86.5% of the month’s total handle.
Its $486.8 in bets taken also more than doubled the $238.7m it achieved online in November 2018.
New Jersey’ sports betting revenue story in November was something else. Its betting customers won back quite a bit more than they did last month.
Handle up, but revenue down
Overall New Jersey sports betting revenue dipped 29.1% as it fell from $46.39 in October to $32.89. This, however, is being seen as an isolated set back. It’s not likely to prevent the state reaching $300 million for the calendar year ending on New Year’s eve, 2029.
And the best November performance by an individual sportsbook? Is FanDuel still the New Jersey market leader or has DraftKings or another of the bigger guns replaced them?
You can’t be absolutely sure. The DGE’s monthly sports betting figures don’t give individual breakdowns. They report only on the totals generated by its Atlantic City Casinos and race tracks.
These figures include those of the state’s online sports books which, by law, must operate through license affiliations to the casinos and race racks.
Some of these brick and mortar betting institutions have only one online sports book affiliation. Others have two, three and maybe more.
FanDuel still entrenched at No 1
It’s therefore not possible to show the individual break downs of the handle and revenue generated by each sports book. You can, however, get a good guide to which are the most successful if you take into consideration that more than 80% of all NJ handle comes in online
That being the case, it is clear that as-American-as-apple-pie FanDuel, remains New Jersey’s No 1 sportsbook – and by some distance.
Meadowlands Race track, to which FanDuel and PointsBet are licensed earned $14.86 million in revenue to take its year-to-date total to $135.4m.
That nearly $15 million November figure has kept it well clear of New Jersey’s other proud-to-be-American sportsbook, DraftKings, who’s licensing casino is Resorts Digital.
Resorts, which, also hosts newby FOX Bet, was credited with revenue earnings of $9.13m and second place. That in turn was well clear of the next best – Monmouth Park Race Track and Borgata Casino. Both cracked $2.5 million.
Football and Basketball are punters’ favorites
Football and basketball headed the list of New Jersey’s favorite wagering sports with baseball in third place.
Football gave the states sportsbooks their highest year to date revenue – $40,09m as against basketball’s $37.32m and baseball’s $27.38m.
Basketball, thanks to March Madness, however, brought in the most year-to-date handle – $806.3m as against New Jersey’s $718.32m.
The other sports, soccer, tennis, golf, boxing and motor racing among them, attracted a total of $52,17m. That’s more than they usually get in the long-time betting hub of Nevada
And the most popular type of bet? No it wasn’t spread, money- line or totals bets. Nor was it futures or prop bets. Instead it was in high- risk parlay betting in which large amounts can be won with very little.
A year-to-date total of $94.37 million in parlay bets has so far been received in New Jersey this year