New Jersey betting revenues up 41% in August
Mobile continues to dominate the market with 85% of overall revenues
New Jersey operators have posted a 41% month-on-month rise in August sports betting revenues, with operators holding $25.2m for the month on $293.6m in handle.
The revenue figure marked a 174% increase on August 2018, when the state was still in the early days of mobile betting.
Handle was up 16.8% month-on-month, with a competed-events hold rate of 5.9%.
The mix of mobile to brick-and-mortar revenue held steady at around 85% to 15%, with baseball the biggest activity driver for the month, accounting for circa 40% of completed events handle.
Analysts suggested September revenues could jump by triple digit percentage points thanks to the start of football season, with Nevada seeing an average 143% increase over the past five years.
The Meadowlands license – where FanDuel provides the majority of revenue – was again the largest operator, with just under 50% of state revenues. Resorts’ license, including FanDuel, had around 27% of the state’s revenues.
Elsewhere, online gaming also continued its strong trend in August, with online casino up 71% year-on-year to $39.4m.
The Golden Nugget, which also includes Betfair Casino revenues, was twice the size of any other licensee in the market, with revenues of $15m.
For all the latest statistics on New Jersey, visit EGR North America‘s data tracker here.