New Jersey Online Gambling and Sports Betting Set Records in October

Published November 19, 2020 by Elana K

New Jersey Online Gambling and Sports Betting Set Records in October

New Jersey online gambling operators earned a combined $93.45 million in revenue in October, while sports betting also saw a record-high handle of $803 million.

The past few months have seen New Jersey’s online gambling revenue reach somewhat of a plateau, ranging between $85 and $88 million. But all that changed in October, when online gambling operators generated a combined $93.45 million, a new record. New Jersey online casinos hit their own record of $90.9 million, while online poker decreased slightly from $2.55 to $2.51 million.

Revenue Breakdown

The Golden Nugget, as always, was the market leader in October, bringing in over $28 million, an 8.2% increase from the previous month. Borgata came in next with $22 million and Resorts followed closely with $21.6 million. Caesars earned about $8.2 million while the Tropicana rounded out the top 5 with $7.2 million. Though the Tropicana is last on the top 5 list, it posted a nearly 21% month-to-month increase, the highest of all the casinos.

Overall, online casinos doubled what they were earning last year, and even online poker shows a year-on-year increase of more than 50%. All this is happening even though retail gambling sites have reopened, proving the growing demand for online gambling.

New Jersey Sports Betting

New Jersey sports betting reached an all-time high handle for the third month in a row, setting the bar for sports betting industries in other states. October’s handle in the Garden State reached just over $803 million, whereas the previous record, set in November, was a handle of $748.5 million.

The combined revenue from online and retail sports betting totaled $58.5 million. A whopping $55.2 million of that came from online sports betting, more than 94% of the total revenue. 

Even as sports betting as a whole set a record in October, the Meadowlands Racetrack saw personal losses. In September, it dominated two-thirds of the market, but in October, it retained only half. Resorts, on the other hand, had a great month, doubling its share of the mobile market from 12% to nearly 27%.

See also

New Jersey Online Gambling and Sports Betting Break Records in October

New Jersey Online Gambling Sets Record Month in October

NJ Online Gambling and Sports Betting Industries Are Thriving

Golden Nugget Set to Enter West Virginia Sports Betting Market

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