Tag: Handle and Hold

September New Jersey Sports Betting Handle Jumps to $184M, Revenue $24M

Posted on | by Brett Smiley

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.

MS Sportsbooks Take in $6.2M in Handle In August And Much Bigger Numbers Ahead

Posted on | by Jill Dorson

The post MS Sportsbooks Take in $6.2M in Handle In August And Much Bigger Numbers Ahead appeared first on SportsHandle.

The Mississippi Gaming Commission on Thursday released its official report for the first full month of sports betting, and the state took in $6,269,629 in handle with gross taxable revenue of $644,489. The handle includes futures bets made, while the taxable revenue does not include futures bets, many of which are not yet decided.

Mississippi’s coastal casinos, which include sportsbooks from Bay St. Louis to the Biloxi area, took in the most amount of bets, with $4,363,799, while the most bets were made on baseball, followed by football and parlay cards. The report runs from Aug. 1-31, and does not include the figures through Labor Day weekend.

In terms of breakdown, Mississippi sportsbooks took $3,004,579 bets on baseball, $1,328,578 on football and $1,314,315 on sports parlay cards. There were also about $100,000 worth of basketball bets made. Expect football to be king in September – when you add in the first weekend of college football games, the handle was $9.8 million through Sept. 3, which means state sportsbooks took in about $3.5 million in bets over the Labor Day weekend.

Read more MS Sportsbooks Take in $6.2M in Handle In August And Much Bigger Numbers Ahead on SportsHandle.

Get a Grip: The Week In Sports Betting & Sports: NJ Sports Betting Handle, Congress Coming & Much More

Posted on | by Brett Smiley

The post Get a Grip: The Week In Sports Betting & Sports: NJ Sports Betting Handle, Congress Coming & Much More appeared first on SportsHandle.

It’s information overload everywhere, and there’s not time enough to sleep and eat and stay fully apprised of what’s happening on this crazy blue dot of ours (two out of three ain’t bad).

Here’s the weekend Sports Handle item, “Get a Grip,” recapping the week’s top stories, and rounding up key stories in sports betting, gaming, and the world of sports at large. You may have missed them, and they are worth reading.

NJ Sports Betting Revenue Exceeds (Some) Expectations And Will Rise Much Higher; Feds May Get Involved In Sports Betting, But How; Much More

A lot to get here. Off the top rope: The NJ sports betting August revenue report came in on Wednesday and the results indicated what we expected: the Garden State market is going to get large.

In a month in which four physical sportsbooks operated throughout and four more for a portion of the month; with the DraftKings Sportsbook operating digitally for most of the month and two more digital launches in the final week, the total handle reached $95.6 million and total sportsbook gross revenue was $9.18 million. The books online — the vast majority by DK — generated $2.97 million on a $21.7 million handle. In retail, the FanDuel Sportsbook at the Meadowlands Racetrack led the way with over $3 million in revenue while no other property cracked $1 million.