After taking a beating on NFL football in October, New Jersey sports betting revenue rebounded strongly in November, especially at the Borgata. Jersey operators generated $21.2 million in revenue on $330 million in total handle. Not surprisingly, that was the most money wagered in a single month to date in the early days of the New Jersey sports betting market.
That win brought in $2.45 million in tax revenue to the garden state.
Football bettors in New Jersey (and elsewhere) had a solid October, leading to books losing revenue while growing handle. In October, NJ sports betting brought in just $11.7 million in revenue while increasing to $260 million in total wagers.
DraftKings, FanDuel lead the way in Jersey
DraftKings Sportsbook and FanDuel Sportsbook continued their strong run in New Jersey sports betting. With brand recognition on their side, the daily fantasy sports giants quickly are becoming sports betting leaders.
The pair combined for roughly two-thirds of overall revenue generated in NJ sports betting. That came via FanDuel Sportsbook at Meadowlands Racetrack and DraftKings Sportsbook’s presence via Resorts Casino.
Here’s how New Jersey sports betting revenue breaks down by operator for November:
|Property (Online)||Digital||Retail||November Total||October Total|
|Bally’s Wild Wild West (Caesars, 888)||$205,046||($26,557)||$178,489||$411,599|
|Monmouth Park (William Hill, SugarHouse)||$1,521,295||$1,158,100||$2,679,395||$1,215,592|
|Ocean Resort (William Hill)||$915,930||$1,908,742||$2,824,762||$824,193|
|Resorts (DraftKings, BetStars)||$7,172,171||$158,332||$7,330,503||$5,187,566|
It only took a few months for online revenue from New Jersey sports betting to surpass retail. That gap widened even more significantly in November as the last of football’s traditional huge months drove growth in handle.
More than 72 percent of money wagered on sports in New Jersey in November came via mobile and online platforms. Of the $330 million total, more than $238 million came via those channels.
Overall, New Jersey sports betting revenue checks in at better than $73 million since its June launch.