In Las Vegas on Tuesday, New Jersey Director of the State’s Division of Gaming Enforcement (DGE) David Rebuck said that the September sports betting financial reports would be stunning.
They weren’t quite stunning, but the numbers were pretty huge: $184 million betting handle across retail sports betting operations at Atlantic City casinos and two racetracks, with the majority of the betting handle coming online, $104.8 million, versus $79 million across counters in person. Total revenue was just about $24 million, or a roughly 13 percent hold (which is a bit inflated as a result of accounting methods, explained below).
Month-over-month, the $184M represents nearly a doubling from the $96 million betting handle and $9.2 million revenues in August, when only the DraftKings Sportsbook was operating online the entire month, to be joined in Sept. by FanDuel Sportsbook, SugarHouse, William Hill and others. Below let’s dig a bit closer into the numbers.
Read more September New Jersey Sports Betting Handle Jumps to $184M, Revenue $24M on SportsHandle.
New Jersey Division of Gaming Enforcement Director (DGE) David Rebuck on Tuesday offered his blunt assessment of the NFL’s characterization of the state of sports betting in the U.S.: “Nonsense.”
The NFL’s stance, voiced again at House of Representatives hearing on Sept. 27, was that states legalizing sports wagering are now engaging in a “regulatory race to the bottom,” which Rebuck called “fear mongering” and “nonsense.”
Rebuck’s remarks came during a Global Gaming Expo (G2E) panel in Las Vegas alongside Pennsylvania’s Susan Hensel, Director of Licensing for the state’s gaming control board, and Matthew Morgan, Director of Gaming Affairs for the Chickasaw Nation. Rebuck’s criticism focused in part on the “integrity fee” as well as Major League Baseball and NBA’s efforts at compelling lawmakers to require state-licensed sportsbooks to use “official league data” for grading wagers, which he framed as fundamentally anti-business, and a mandate that New Jersey unequivocally will not implement.
Read more Top New Jersey Regulator Calls Out Pro Leagues ‘Fear Mongering’ on Sports Betting on SportsHandle.