New Jersey’s sports betting industry continued with its record-breaking run on October according to its Division of Gaming Enforcement.
It rose 9.5% from a total betting handle of $445.6 million in September to a record $487.9 million in October.
That might not be enough, however, to exceed Nevada’s October handle as it had in three of the five past months.
In September Nevada, the US’s tradition hub of sports betting, bounced back with handle of $546.2m and raked in $52.1 in revenue. It is expected to exceed these figures in October when they are announced later his month.
In NJ meanwhile, there was a slight dip in land-based, retail wagering from $71.3m to $71m month on month.
NJ’s online betting brought in 85% of handle
However, this was more than made up for by its robust online betting segment. It is now bringing in more than 85% of NJ’s handle this way, mostly via smartphones. Internet betting grew to $417m in October as against September’s $374.2m.
The state’s sports-betting bottom-line also continued to bloom. It rose sharply by 22% from $37.9m in September to $46.4m in October – and the end-point is nowhere in sight.
Both sports betting handle and revenue should continue to climb next month as basketball joins football in its first full month this season.
In the meantime, FanDuel continued on its merry way as the state’s sports-betting market leader.
New Jersey’s DGE does not give the actual revenue figures of its 17 online sportsbooks. Its monthly report only discloses the total numbers attained by its licensed casinos (11) and race tracks (2) which partner the sportsbooks.
Meadowlands lead the sports-betting chase
What we do know from the DGE is that Meadowlands with its licensee sportsbooks FanDuel and PointsBet remained the market leaders. And this by some distance.
Its October revenue stood at $24.8m, a massive rise of 599.9% on last year.
Resorts Digital, partnered with DraftKings and The Stars Group’s Fox Bet ranked second in the market, with revenue climbing 107.4% year-on-year to $10.6m.
Monmouth Park, partnered by William Hill, was ranked third. Their October revenue of $2.8m was up 133.8% on last year.
Ocean Resort, another William Hill partner, followed with revenue of $2.3m; up 183.0% on 2018.
Hard Rock, which is now partnered by Unibet and Bet365, posted $2.0m in revenue, but no comparable figures were available. It was not yet offering sports betting in October last year.
