New Jersey Hits Many Sports Betting Records With September’s Report

• New Jersey sports betting has been dominated by the online presence of The Meadowlands and Resorts Casino.
• NFL bettors helped the state break new records for a monthly betting handle, revenue total, and tax contributions.
• Harrah’s AC still sits without any online betting platform – the only sportsbook in the state without one.

ATLANTIC CITY, N.J. – New Jersey sports betting is thankful that the NFL is back in full swing. On Tuesday, the New Jersey Division of Gaming Enforcement released the sports betting revenue numbers of the ten New Jersey sportsbooks for September.

Old records were smashed in the process, as September now has the title of the best sports betting revenue month on record in New Jersey.

A total of $445.5 million was wagered during the month – beating the previous record set in January of this year ($385.3 million) by over $60 million. This could mark the third straight month that New Jersey has collected more action than Nevada, though this handle is still $125 million less than that of Nevada’s for September 2018.

Broken down, nearly 85% of the action came from online sports bettors, which is slightly higher than the 81.7% online market share that the state has seen throughout the year.

The online betting market has been so dominant that over $200 million in revenue has come from online sports betting since the June 2018 launch. Its continued growth is unquestioned as $150 million of that has come from this year alone.

The remaining $44.3 million of the betting handle was risked at the retail sportsbooks around Atlantic City and peppered elsewhere throughout the state.

NFL betting action was responsible for 42% of the handle ($188.6 million) and with the heightened NFL action, the state is on track to surpass a year-to-date betting handle of $3 billion. However, this mark has likely already been broken from bettors during the first half of October.

The betting revenue wasn’t far behind the increased betting handle, as the state also posted a new record in this department as well. The $37.9 million kept by the sportsbooks was the highest on record, and the tax contributions to the state government ($4.5 million) is also a new record.

September sports bettors in New Jersey played a vital role in helping the struggling summer months of sports betting. Q3 of 2019 brought in an exact third of the betting handle on the year, but the revenue during these three months was responsible for 42.5% of the year-to-date sports betting revenue. This indicates that bettors struggled heavily during the summer months, allowing the sportsbooks to hold higher percentages despite their lessened betting action.

As far as the individual sportsbooks go, The Meadowlands and Resorts Casino still continue to dominate the industry. Their combined online revenue totaled $24 million or 81.5% of the combined online revenue total of the ten books.

Land-based revenue came predominantly from three sportsbooks: The Meadowlands, Ocean Resorts, and Monmouth Park. Each of these books were the only ones to surpass the $1 million mark for the month in terms of retail revenue, with the exception of Monmouth Park which missed it by $3,000.

Still, 76.2% of retail revenue came from these three books.

Harrah’s Casino is still without mobile betting, and their lack of an online presence is keeping them well behind the pack. Since the year began, Harrah’s has kept only $593,231 in revenue, while the next closest sportsbook (Tropicana) has more than double that of Harrah’s ($1.2 million).

New Jersey sports betting is hitting its stride as the fourth quarter of the year has begun. Expect to see new records set again in the near future as the industry, at full strength, will break any previous monthly mark set during last year’s NFL season.

News tags: Harrah’s Resort Atlantic City | Monmouth Park | Nevada | New Jersey | New Jersey Division of Gaming Enforcement | NFL | Ocean Casino Resort | Resorts Casino | The Meadowlands | Tropicana Atlantic City