After a sobering October period of trading, New Jersey’s sportsbooks saw their fortunes take a welcome turn for the better in November, with both wagering and revenue significantly ahead. According to the New Jersey Department of Gaming Enforcement’s monthly gaming revenue results, online and retail sports betting grew by 27 per cent to $330.7m, while gross revenue almost doubled from $11.7m in October to $21.2m in November.
Out of that $330.7m handle, $238.6m (72 per cent) came from online transactions. By comparison, October’s online wagers generated 67 per cent of total bets.
In terms of New Jersey’s sportsbook pecking order, DraftKings again led the pack with $7.2m revenue, up 41 per cent from $5.1m in October. FanDuel Sportsbook followed with $4.4m, up from $2.4m. Next up were Monmouth Park with $1.2 m, up from $608,611, and Ocean Resort at $915,930, up from $385,641. Caesars Sportsbook generated $205,046, up from $108,359, while playMGM/Borgata posted take of $194,212, up from $66,924.
The FanDuel Sportsbook at The Meadowlands held its place as the best performing retail sportsbook, earning $2.6m in November, up 165 percent from $1.1m in October.
Based upon filings with the DGE, total gaming revenue for November was $257.4m compared to $206.4m in November 2017, reflecting a 24.7 per cent increase. Casino win for November was $209.2m, increasing 12.6 per cent from the same month last year. Internet gaming win was $26.9m in November compared to $20.6m in the prior period, reflecting an increase of 30.7 per cent.
For the year-to-date, the industry’s total gaming revenue was $2.645bn for 2018 compared to $2.452bn in 2017, reflecting an increase of 7.9 per cent. Casino win was $2.302bn reflecting a 3.3 per cent increase over the prior period. Internet gaming win increased 19.9% to $269.7m for 2018. Sports wagering gross revenue was $73.2m since inception on June 14, 2018.