DraftKings dominates New Jersey betting market in September
Kambi-powered operator accounted for approximately two thirds of online betting revenues last month
DraftKings was the clear sports betting market leader in New Jersey for September, in a month where overall betting revenues more than doubled month-on-month thanks to the start of the NFL season.
The operator was estimated to have delivered approximately 95% of the $8.5m in online betting revenues on the Resorts AC licence, with the recently-launched BetStars brand accounting for the other 5%.
It puts DraftKings at about 65% of the state’s online betting market, according to Eilers & Krejcik analyst Chris Grove, with FanDuel at around 22% and the rest of the market spread out among smaller operators.
“Of note in that final tier is PlaySugarHouse punching above its weight at about 5% share,” Grove said.
DraftKings head of digital sportsbook Jamie Shea said: “DraftKings continues to exceed our internal projections for New Jersey. While we’re encouraged by our early performance, with more competitors poised to enter the market, we remain focused on ensuring a consumer experience that’s second to none.”
The overall betting market saw $184m in wagers, with $24m in revenue, up from $95m and $9m respectively in August.
Online and mobile made up more than half of turnover at $104m.
The sports betting uptick also bled over into online gaming, where revenues climbed 25% year-on-year to $25.8m.
Casino was up 31% to $24.1m, while poker declined 15% to $1.6m. Grove said the figures suggested “cross-sell is happening”.
New Jersey DGE director David Rebuck said: “Driven by the explosive growth in sports wagering and continuing improvements in Internet gaming and brick-and-mortar casino win results, the gaming industry produced another month of superb revenue increases. The revenue results point to a strong finish for New Jersey’s gaming industry in 2018.”
Golden Nugget continued to lead the online gaming market, with revenues of $9.3m, up 63% year-on-year.