NJ Sportsbooks crosses $ 1 billion mark in September
New Jersey sports betting made history in September with the first reported $ 1 billion manage in a month.
The handle was $ 1.011 billion, which is on the rise 35.1% of $ 748.6 million bet last September. Operators are probably much more satisfied with the 82.9% rising incomes, however. The income from sports betting has been $ 82.4 million, good for 8.2% hold and $ 10.2 million in tax dollars.
Sports betting in New Jersey nearly eclipsed the billion dollar mark last December with $ 996.3 million bet. Income was just below a new record – sports betting won $ 82.6 million in January 2021.
It’s not much of a surprise to see New Jersey surpass the billion dollar mark to coincide with the return of NFL bet. The state had 70.5 million online game transactions during the first four weeks of the season, most of all states according to GeoConformity.
This represented 21.4% of all transactions in the United States during this period. New Jersey transactions surged 43.3% compared to last year.
Shocker: Football dominated NJ sports betting in September
Football, by far, was the most popular sport to bet on in NJ sports betting in September, according to the state’s breakdown of completed events.
There was $ 400.8 million bet only on football last month in New Jersey. This led to just $ 10.3 million in income, however, or a 2.6% socket.
The moneymaker as usual was parlays. Of $ 216.1 million bet on betting – NJ’s second largest market last month – sports betting was kept $ 42.3 million, or keep from 19.6%.
The best of the rest
Baseball moved ahead of the “other” category by a little more $ 9 million in the handle, although “other” made better income.
Baseball counted $ 185.2 million in paris and $ 6.6 million In income. The “other” category had $ 175.9 million in the handle and $ 7.6 million In income.
Basketball betting, the fifth and final category named in NJ’s sports betting reports, totaled $ 22.4 million in September. This only brought $ 77,049 In income.
Meadowlands tops revenue again
As usual, the Meadowlands Licensed Partners dominated the state in sports betting revenue.
FanDuel Sportsbook, PointsPari and SuperBook handset for $ 41.3 million of total turnover, including $ 36.6 million from online.
DraftKings Sportsbook, Fox bet and Resortsown brand under license AC Resorts comes in second with $ 13.6 million in combined sales.
It is widely believed that FanDuel and DraftKings generate the lion’s share of their license profits.
BetMGM and Borgatathe own brand under license Borgata comes in third position with $ 13.4 million.
How long can NJ sports betting keep this pace?
This is the fourth football season that New Jersey sports betting is operational. In the first three, the grip increased month over month in October and November, and this trend included December in 2020.
Based on these trends, NJ could hit a 10-digit handful every month until the end of the year. Anything beyond, however, will really depend on what New Yorker do once the NY online sportsbooks finally go live.
Industry estimates suggest 20% to 25% of New Jersey’s handful comes from New York-based punters. Which companies win the auction, how many sportsbooks there are in total, and how much the NJ books fight to keep those bettors will determine how New Jersey’s management is affected.