New Jersey Sports Betting Soars While Online Gambling Levels Out
Published October 24, 2020 by Elana K
New Jersey online sports betting hit $748 in handle in September, a new record. Online gambling, on the other hand, earned $87.6, $2 million less than August's record.
According to the New Jersey Division of Gaming Enforcement, New Jersey online sports betting hit another new record in September: $748 million in handle. While it was expected the NFL season would increase the sports betting handle, it wasn’t clear how much. September’s record beat the state’s previous record, set in August, by more than $80 million. From the month’s handle, sportsbook operators earned nearly $45 million in revenue, bringing the year’s total to nearly $3.3 billion.
New Jersey Mobile Sports Betting
New Jersey’s mobile sports betting is a major factor in the state’s soaring numbers. In-person registration is not required. Bettors can simply sign up online and start betting. In September, mobile betting accounted for over 90% of the betting with a $678 million handle.
Meadowlands Racetrack remains the most popular sportsbook in New Jersey, with its mobile betting accounting for more than 63% of the market share and its retail betting accounting for 58%. Resorts came in a far, but solid, second, accounting for 12% of the mobile market.
New Jersey Online Gambling
While the state’s sports betting had a stellar month, online gambling didn’t have quite the same upward trajectory. The New Jersey Division of Gaming Enforcement reported that casino operators brought in $87.6 million in September, slightly less than August’s record of $87.8.
Unsurprisingly, poker revenue was down 16%, decreasing from $3 million in August to only $2.5 million in September. Online casinos posted a slight .4% increase from August to September.
Despite the record-high of sports betting, the total combined revenue of online gaming in the state was down by nearly 1%. Total gaming taxes for September reached $32 million. Compared to August’s $32.4 million, it’s a slight drop, but if you factor in that September is a shorter month, New Jersey tax revenue actually increased by 2%.
