Sports betting and online gaming revenue hit all-time highs in New Jersey
More than $800m wagered on sports in October as combined online casino and poker revenue surpasses $90m for first time
Sports bettors wagered a record $803.1m during the month of October in New Jersey, comfortably eclipsing the previous all-time high of $748.6m set the previous month.
Handle for October, which was also up 65% year-on-year, capped six months of consecutive growth in the Garden State as sports resumed following the shutdown due to coronavirus.
Mobile and desktop accounted for around 93% of all handle during the month. Meanwhile, revenue came in at $58.5m, up 26% on October 2019, which equated to hold of 7.2%.
Top of the tree in terms of revenue was the Meadowlands license (FanDuel and PointsBet) with $29.8m followed by Resorts (DraftKings, Fox Bet and Resorts) with $14.7m.
The nearest competitor was Borgata (BetMGM and BorgataSports) on $4.3m in revenue.
NJ DGE releases the October 2020 Revenue Numbers Friday at 2pm ET.
Care to guess what the Amount Wagered in NJ in Oct 2020 was?
@astraffon and I will unveil our AlfoJack Power Number
tomorrow at poll's end.
— Captain Jack Andrews (@capjack2000) November 13, 2020
Meanwhile, a new record for online gaming revenue was set in October as operators amassed GGR of $93.5m, which was $5m more than the previous high set in August.
Some $90.9m of October’s total was down to casino products, with online poker generating just $2.5m. Therefore, casino accounted for 97.3% of the igaming market.
As for the leading brands, Golden Nugget’s license (Golden Nugget, Betfair, PlaySugarHouse) once again came out top with GGR of $28.1m.
However, the battle for second spot continues to be competitive as Borgata’s license once again broke its own monthly record with GGR of $22.1m, again narrowly edging out Resorts with $21.6m.
It means Borgata and Resorts both held 23% of the market in October behind long-time leader Golden Nugget on 30%.
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/