New Jersey Sports Betting Back On Track With August’s Report

by | Sep 16, 2019 6:33 pm | Revenue | 0 comments

New Jersey Sports Betting Back On Track With August’s Report

New Jersey sports betting revenue is back on track for football season after a slow summer.

  • The Meadowlands and Resorts Casino still consist of the heavy majority of all New Jersey sports betting action.
  • The state’s sportsbooks kept $22 million in revenue for the month – the most since March of this year.
  • With NFL betting back on the books, setting an all-time sports betting handle record should be expected.

ATLANTIC CITY, N.J. – Sports betting in New Jersey is back on the rise, after the most recent report released by the New Jersey Division of Gaming Enforcement.

In August, New Jersey took in $293,594,862 in wagers at the ten land-based sportsbooks in New Jersey as well as their online platforms.

The report also detailed that the state’s books kept $25,210,342 of that betting handle as revenue, before their required tax contributions to the state.

After sending just over $3 million to the state coffers, the books were left with over $22 million in revenue for the month.

Over half of this revenue came as a benefit from just one of the seventeen current sportsbook locations in New Jersey – The Meadowlands. With a strong lead from their online platforms (FanDuel and PointsBet), The Meadowlands was responsible for $11.87 million of the state’s revenue.

Resorts Casino (DraftKings, BetStars, and ResortsCasino) came in second, making more than $7.2 million in revenue for the month.

These high numbers helped the state post their best sports betting revenue number since March of this year, made much easier from a betting handle that surpassed the previous few months as well.

The sportsbooks also kept 8.59% of all betting action – the highest mark since September 2018.

In terms of the year-to-year progress, August sports betting in New Jersey in 2018 only had eight books open for operation, with an online presence at only three locales. Still, the handle was roughly $200 million more than last year, as the revenue increased nearly three-fold.

With NFL betting action back in the swing of things, expect to see the sports betting handle in New Jersey reach all-time highs in the next few months.

As more online operators continue to flood the market, the ease of availability for New Jersey sports betting has never been so easy.

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