New Jersey sports betting keeps breaking records

New Jersey sports betting revenue was down despite record handle.
New Jersey sports betting revenue was down despite record handle.

New Jersey sports betting handle in November jumped 70% year-on-year after totalling US$562.7 million, even though revenue dropped.

US.- The gaming industry continues to grow at a high pace in the United States. That’s why it’s no surprise that sports betting in New Jersey keeps breaking records after its legalisation.

The state was the main responsible for the segment’s liberalisation and is leading the way with major figures. During November, the sports betting market in New Jersey totalled US$562.7 million, 70% up year-on-year. That’s US$70 million higher than in October 2019.

According to state figures desktop, mobile or tablet amounted to US$486.8 million of all wagers. That meant 86.5% of the online/offline share.

Even though the numbers had such a huge improvement, revenue was still down. The segment only made US$32.9 million for operators, after making US$46.4 million a month before.

Market leaders

Meadowrock/FanDuel led sports betting in New Jersey once again. The operators generated US$14.86 million, a 111% increase from 2018. Most of that money (US$12.2 million) came through digital means.

Resorts Digital (DraftKings/Stars Group) came in second with a 27.3% year-on-year growth. Its figures reached US$9.13 million, with just US$51k coming from the Resorts Casino Hotel’s brick-and-mortar sportsbook.

Ocean Casino Resort (+William Hill) was third, with US$2.54 million profits, out of which US$2.05 million came from iGaming.

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