New Jersey Sets New Sports Betting Record
October 18, 2019
New Jersey sports betting revenue is at an all-time high. In fact, the handle is proving so popular that its been the making a of a new record. September saw the Garden State receive well in excess of $445 million wagered on sports alone. Of this figure, at least 84% was received by online bookies licensed to operate in New Jersey.
The September tally is officially the largest monthly intake of money bet on sports events since legalisation of wagering on sports in New Jersey in June of 2018. And on that particular note, a total of $3 billion was bet on sports in New Jersey alone since the beginning of the current year.
Meadowlands Took The Lead
In terms of the individual operator winner of the race, its Meadowlands that gets to walk away with top honours. The bookie has sub-licenses leased to PointsBet and FanDuel and singlehandedly raised $16.9 million all of its own accord.
Resorts Digital finished the September revenue race in second place, having taken on a total of $10.7 million in sports betting spend for the month. Resorts Digital is also sublicensed with FanDuel, as well as with FOX Bet.
Monmouth Park came in in third place, supported by its bookie partner William Hill. $3.4 million in sports betting revenue bet during September was the makings of the magic number. Many others performed in sterling fashion too, not least of all Oceans Resorts, with the operator finishing the revenue race hot on the heels of Monmouth Park.
Casino Games Joined In Too
But sports betting wasn’t September’s sole top performer as online casino gaming enjoyed a particularly warm space in the revenue sun too. Revenue for September proved a tie with that generated in August, which was of itself considered a record achievement.
The online casino industry was responsible for the smooth and impressive record-tie performance, having hiked revenue income by as much as 63.6%. Golden Nugget Casino’s online leg of business yet again emerged the top performer, which is nothing new. Resorts Digital Gaming came in in second place, and the Borgata got to occupy the final step on the podium, having come in in third place.
Nevada Remains In Pole Position
But despite New Jersey having beat and tied its own records respectively, when it comes to leading the sports betting scene, Nevada still holds the baton. The two states have been chasing revenue as well as each other and alternate big-revenue record victories have been the makings of an inter-state race all on its own.
Nevada achieved a personal as well as yet-to-be-beat industry record when in March of this year, it reported having generated a smashing $600 million in sports betting revenue! And yes, that’s exclusively talking the month of March.
New Jersey For The Win
As for New Jersey, a large portion of its success is thanks to the fact that New York has not yet legalised mobile betting. The result has been one of thousands of New Yorkers travelling to the Garden State on a regular basis in order to make bets from their mobile phones and other mobile devices.
Once the New York scene changes; and it most definitely eventually will, New Jersey will have to come up with new ideas if it has any hope of keeping up its current momentum. Not that New Jersey has ever experienced any real difficulties with thinking innovatively. It was after all the beloved Garden State that had pushed and pushed until sports betting had been pushed all the way (and legally!) through in the United States