New Jersey Sports Betting Handle Surges to $261M, Revenue ‘Just’ $11M As Bettors Exact Revenge
The good news for the New Jersey sportsbooks in the newly released revenue report for October is a large jump in handle from $186 million in September to $261 in October. The downside is that the bettors took a bigger bite of the books this month than usual, cutting revenue by more than half month-over-month from $24 million in September to “just” $11.7 million in October.
Overall that spells a 4.4 percent hold, down from 13 percent in Sept., which may be partly attributable to baseball (more on this below) and perhaps moreso a lot of “public” teams covering the spread in October NFL contests. The rise in betting handle is almost entirely attributable to the mobile/one sector, which grew from $105 million in September to $174 million in October. On-site sports betting inched up from $79 million in the prior month to $86 million.
Resorts Digital continues to lead the way by a lap on the revenue front, reporting $5.1 million in October, which is nearly half of the entire haul across all sportsbooks for the month. An arm of Resorts Casino, Resorts Digital figures represent DraftKings Sportsbook as well as BetStarsNJ.com. We can no longer parse out which side is driving what, but based on prior figures we can safely say that DraftKings is responsible for the lion’s as well as the cub’s share. Let’s dig in a litter deeper now.
October Brick-and-Mortar Sportsbook Revenue:
- Bally’s: $303K
- Borgata: $120K
- Golden Nugget: $46K
- Harrah’s: $104K
- Meadowlands (FanDuel Sportsbook): $1.1 million
- Monmouth Park: $606K
- Ocean Resort: $438K
- Resorts: $97K
- Tropicana: $15K
A spokesperson for FanDuel Sportsboook said: “Demand for the FanDuel Sportsbook continues to outpace our expectations with online handle 2.5 times higher than September and continued double digit growth in retail handle. It was an exciting month for bettors who won at a high rate on football and benefitted from our industry-leading pricing and odds boosts.”
October Online Sportsbook Revenue:
- Bally’s (combination of CaesarsCasino & 888sport): $108K
- Borgata (PlayMGM): $67K
- FanDuel Sportsbook (Meadowlands): $2.43 million
- Golden Nugget (PlaySugarHouse): $151K
- Monmouth Park (William Hill and PlaySugarHouse): $609K
- Ocean Resort (William Hill): $385K
- Resorts Digital (combination of DK Sportsbook and BetStarsNJ.com): $5.1 million