New Jersey sportsbooks have taken more than $57 million in bets since launch, turning that into close to $7.3 million in revenue.

The state’s Division of Gaming Enforcement released July 2018 gaming revenue figures showing the five New Jersey sportsbooks operational through at least part of July generated $3,831,141 in revenue.

July marked the first full month of legal NJ sports betting. Only year-to-date handle figures were released. But it can be inferred that handle in July stood at $40,682,237 based on June’s handle of $16,409,619.

The five sportsbooks include three at Atlantic City casinos and two at New Jersey racetracks:

  • Monmouth Park Sports Book by William Hill at Monmouth Park Racetrack (Opened June 14, 2018)
  • Borgata Hotel Casino & Spa (Opened June 14, 2018)
  • William Hill Sports Book at Ocean Resort Casino (Opened June 28, 2018)
  • FanDuel Sportsbook at Meadowlands Racetrack (Opened July 14, 2018)
  • Bally’s Atlantic City Hotel & Casino (Opened July 30, 2018)

But the market is expanding rapidly. A sportsbook at Harrah’s opened Aug. 1. Plus, a DraftKings Sportsbook mobile sports betting app launched in partnership with Resorts Hotel Casino on Aug. 6.

Resorts and Golden Nugget, meanwhile, opened retail sportsbooks on Aug. 14.

Monmouth Park sportsbook on top for now

To no one’s surprise, since it opened first, Monmouth Park Sports Book by William Hill has been the top grossing sports betting facility in the state so far. It has generated $3,135,446 in revenue since launch.

However, FanDuel Sportsbook at Meadowlands Racetrack is coming up fast. In fact, it was the top-grossing sportsbook in July, despite only being open for a little more than half the month. FanDuel Sportsbook generated $1,357,477 in revenue in July.

Insiders have long touted the potential for Meadowlands Racetrack to become the top sports betting facility in the country because of its proximity to New York City. The FanDuel Sportsbook is less than a half hour drive from Midtown Manhattan.

A similar revenue story is playing out at the Atlantic City casino sportsbooks.

Ocean Resort sportsbook is gaining steam

Borgata’s Race & Sports Book has been the top-grossing casino-based sports betting facility since launch. The first casino sportsbook to open, it has generated a total of $1,549,661 in sports betting revenue so far.

However, the William Hill Sports Book at Ocean Resort Casino was the heavy hitter in July, generating $1,036,766 in revenue. Ocean Resort generated $1,229,436 in sports betting revenue since it launched June 28.

If recent trends continue, it will likely make up the approximately $320,000 difference to become the state’s top-grossing casino-based sportsbook in August.

Waiting for football season to start

Of course, the numbers at all NJ sportsbooks will rise with the start of the NFL season on Sept. 6.

According to the University of Nevada Las Vegas Center for Gaming Research, Nevada sportsbooks have taken $81.9 billion in bets on sports since 1984. Football bets made up approximately $30.1 billion of the total.

In comparison, basketball bets made up just $19 billion and baseball bets just $15.2 billion.

Due to the time of year, baseball bets made up $36.3 million of the $55.4 million wagered on completed events at NJ sportsbooks since launch. Football bets made up just $160,187 of the total and basketball just $1,051,300. Bets on other sports, including soccer’s World Cup, made up the other $17.9 million.

The DGE also reported $1,655,798 in futures bets so far.

Martin Derbyshire

About

In his over 10 years covering the US online poker, legal NJ online gambling, and land-based casino industries, Martin Derbyshire has worn the hats of award-winning journalist and video and film producer. He has logged countless miles reporting on the world of high stakes gambling.