New Jersey sets yet another record month for sports betting handle
Online gaming generates $87.6m, narrowly falling short of topping the previous record high in August
Sports bettors wagered $748.6m online and offline in New Jersey during September, smashing the record handle of $668m set the previous month and marking five consecutive months of growth.
Figures released by New Jersey’s Division of Gaming Enforcement also showed that online sportsbooks accounted for 90.6% of handle as $678.7m was bet via digital channels.
Total revenue for land-based operations and online amounted to $45.1m, up from $39.5m in August. This equated to hold of 6.02%.
It means sports betting handle and revenue in the Garden State for the first nine months of 2020 sits at $3.3bn and $223.1m respectively.
As for the performance of licensees, Meadowlands (FanDuel and PointsBet) was the runaway leader as online and offline revenue combined leapt to $28.2m ($25.1m digital only) from $21.6m in August.
The chasing pack was led by Resorts (Resorts, DraftKings, Fox Bet) with $5m, closely followed by Borgata (BetMGM and BorgataSports) on $4m.
Freehold Raceway entered the fray for the first time this month after opening a sportsbook at the track, yet it ended up recording a loss of $44,585 for September.
Some directional evidence that border-crossing NYCers, despite COVID, are still significantly inflating the NJ online sports betting market. Gets to @capjack2000's earlier point re: the Meadowlands' Sept. outperformance on the retail side. pic.twitter.com/D7kGsa0bO7
— Chris Krafcik (@ckrafcik) October 15, 2020
Meanwhile, online gaming revenue across all online brands for the month was $87.6m, which was slightly down on the record revenue of $87.7m in August.
Online casino revenue amounted to $85.1m, but poker achieved just $2.5m as its purple patch due to lockdowns earlier this year continues to fade. In fact, poker represented just 2.9% of total igaming revenue last month.
Golden Nugget’s license led the way yet again with revenue of $26m, followed by Borgata on $20.3m and Resorts on $20m.
However, Borgata and Resorts recorded record months as Golden Nugget’s four-year-long lead has been eroded in recent months.
Online gaming breakdown for September
For a comprehensive breakdown of New Jersey’s sports betting and igaming performance to date, visit EGR NA’s proprietary US Betting Tracker: //www.egr.global/northamerica/database/new-jersey/