In the widely reported news of the September surge in New Jersey’s sports betting revenue, two clear market leaders have emerged – online betting providers DraftKings and rival FanDuel. Between them, they generated $15.7m of the state’s total sports wagering take of nearly $24m.
Out of the two rivals DraftKings, with its partner Resorts Digital, was ahead with revenue of $8.5m. FanDuel, partnered with Meadowlands racetrack, reported a total of $7.2m. That gave DraftKings a 35.4 per cent of the market share, with FanDuel taking a 30 per cent share. Altogether, New Jersey bettors wagered $184m on sports, with $104.9m of the handle going on online betting.
A statement from FanDuel outlining September’s soaring performance, read: “As our retail Sportsbook at the New Meadowlands Racetrack grows and with the launch of the FanDuel Sportsbook app, consumer response continued to exceed our expectations in September. We are encouraged to see strong momentum in New Jersey for the newly formed FanDuel Group.
“In September, we brought in over $175 million in handle and entry fees across all products (Sports Betting, DFS, Horse Racing, and Online Casino). We look forward to continuing this growth by delivering the best experience for customers across the state.”
The emergence of both DraftKings and FanDuel as early market leaders is now being attributed to their ability to embrace new opportunities and their experience in the daily fantasy sport (DFS) sector where entertainment and player engagement are key elements of the gaming experience.