NJ sets sports betting revenue record as handle hits $1.29bn in November

New Jersey set a new sports betting revenue record for the second consecutive month in November after players wagered a total of $1.29bn (£969.5m/€1.14bn) across online and retail.

Overall market revenue for the state amounted to $439.6m in November, up 52.2% from $288.9m in the same month last year, but down 2.0% from $448.7m in October this year.

Sports wagering revenue reached $114.8m, which was 127.1% up from last year and easily surpassed the previous record of $84.2m set in October this this year.

Consumers wagered 1.29bn – split $1.14bn across online and $114.0m at retail sportsbooks – representing a year-on-year rise of 38.5%. The total was only just short of the $1.30bn handle record set in October 2021.

FanDuel and PointsBet, both partnered with the Meadowlands, remained the runaway market leaders in the sports betting market $64.4m in revenue, some distance ahead of Resorts Digital and DraftKings on $22.4m and BetMGM partner the Borgata in third.

Looking at online casino, revenue here amounted to $118.0m, up 28.5% on last year, but 7.1% behind October 2021’s record of $127.0m. Some $115.8m of this came via online slots, with the remaining $2.2m from peer-to-peer poker.

The Borgata led the igaming market with $33.7m in revenue, followed by Golden Nugget Online Gaming with $31.8m and Resorts Digital on $27.8m.

In terms of land-based casinos, revenue hiked 41.2% year-on-year to $206.9m, though this was down 12.9% month-on-month from $237.5m in October. Slots accounted for $154.7m in revenue, while table games generated $52.2m.

For the year to date, total market revenue for the 11 months to the end of November was $4.33bn, an increase of 68.7% on the same point in 2020.

Sports betting revenue was 127.8% higher at $756.7m, while igaming win increased 41.7% to $1.23bn and land-based casino revenue 71.6% to $2.34bn.

Read the full story on iGB North America.

Original Article