Mon. Apr 22nd, 2024
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Online and land-based sportsbooks in New Jersey saw their aggregated handle for September increase by 142% year-on-year to hit $445.6 million while the sector’s comparable combined revenues for the 30-day period rose by 59% to top $37.9 million.

New Jersey legalized sportsbetting in June of 2018 while the latest figures mean that the eastern state has so far recorded lifetime handle of $4.2 billion alongside aggregated historical revenues of $284.8 million to contribute some $33.5 million in tax.

Gridiron assistance:

According to a recent press release, September’s sportsbetting figures in New Jersey were significantly helped by the start of the 100th edition of the National Football League (NFL) as monthly aggregated revenues broke the previous record of $31.7 million set in March to inject some $4.5 million into the public purse.

Online dominance:

Just shy of 84% of all of New Jersey’s sports wagers in September were placed over the Internet, which represented a month-on-month decrease of about 1%, with the locally-licensed PointsBet.com and FanDuel.com services being the market leaders via combined revenues of $13.3 million. These were followed with aggregated takings of $10.7 million by the DraftKings.com and FoxBet.com sites while the WilliamHill.com and PlaySugarHouse.com domains run under a license from Monmouth Park Racetrack chalked up a tally of $2.4 million.

September success for New Jersey’s sportsbetting market

Peak properties:

Regarding land-based sportsbetting, the book at Meadowlands Racetrack topped the pile as its September revenue tally hit $3.6 million, which represented a month-on-month rise of 38%. This was followed by Ocean Casino Resort with its monthly takings reaching $1.8 million while the on-site service from Monmouth Park Racetrack rounded out the top three courtesy of $996,844 in revenues.

Annual optimism:

Away from sportsbetting and New Jersey’s collection of online casino and poker sites saw their aggregated September revenues exceed $41.4 million, which equated to a swell of 59% year-on-year, to take the annual figure beyond $300 million for the first time. This tally moreover surpassed the previous monthly record of $41.1 million set only in August and means that this iGaming vertical has now generated some $339 million in takings since January.

With three months still remaining until the end of the year, aggregated revenues from online poker and casino sites in New Jersey are now expected to outpace 2018’s full-year tally of $450 million to possibly hit as high as $675 million.

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