Speaking on a panel at the Global Gaming Expo in Las Vegas earlier this week, David Rebuck provided some insight into New Jersey’s sports betting figures from September.
They “will not disappoint,” the NJ Division of Gaming Enforcement director said. “I think (the industry) will be stunned.”
While September’s figures may not live up to the hype Rebuck built, relative to the state’s previous months, they still leave an impression.
After all, NJ sports betting revenue figures released by the DGE on Friday reached unprecedented levels. Sports betting revenue totaled $24 million for September (one-third more than the previous three months combined) with $184 million in handle.
NJ sports betting as a whole
The first three months of legalized sports betting in New Jersey saw nearly $153 million in handle total. The Garden State exceeded that in September alone.
Mobile and online handle in September amounted to $104,885,404, more than the $82 million wagered in August (granted, with five fewer mobile products).
On-site handle totaled $79,062,731, just exceeding August’s accepted wagers by nearly $6 million.
With September’s boom in handle, New Jersey operators, since launching in June, have taken more than $336 million in bets.
Once again, DraftKings dominates
DraftKings Sportsbook broke the mold in New Jersey.
Using the Resorts Atlantic City license, DraftKings became the first mobile sportsbook in the state and ultimately generated $2,970,331 in revenue in its first month.
Oh, boy, did DraftKings take it a step further in September.
Though the DGE lists revenue breakdown by license holder rather than by individual product, DraftKings certainly played a major role in Resorts’ reported $8,505,940 in online revenue.
Jamie Shea, Head of Digital Sportsbook for DraftKings, said in a statement that the company “continues to exceed our internal projections for New Jersey.”
Yet DraftKings still maintains an even keel.
“While we’re encouraged by our early performance, with more competitors poised to enter the market, we remain focused on ensuring a consumer experience that’s second to none.”
And what about FanDuel Sportsbook?
DraftKings’ chief daily fantasy sports competitor, FanDuel, was the only other mobile entity to top the $2 million mark.
The remaining mobile products went as follows, though it’s worth noting that William Hill (Caesars NJ), partnered with both Monmouth Park and Ocean Resort Casino, had its overall revenue split between the two properties.
- SugarHouse Sportsbook: $619,030
- William Hill (reported by Ocean Resort): $292,081
- playMGM: $120,938
- Caesars Sportsbook/888 Sportsbook: $106,643
- William Hill (reported by Monmouth): $70,785
Meadowlands continues to set retail tone
On the retail side, Meadowlands Racetrack again paced the market.
Jumping more than $1 million from August, the East Rutherford operation, FanDuel Sportsbook, reported $4,377,474 in revenue.
FanDuel offered a statement addressing September’s numbers.
“As our retail Sportsbook at the New Meadowlands Racetrack grows and with the launch of the FanDuel Sportsbook app, consumer response continued to exceed our expectations in September. We are encouraged to see strong momentum in New Jersey for the newly formed FanDuel Group.
In September, we brought in over $175 million in handle and entry fees across all products (Sports Betting, DFS, Horse Racing, and Online Casino). We look forward to continuing this growth by delivering the best experience for customers across the state.”
To date, Meadowlands has reported nearly $9 million in revenue, a full $2.7 million more than Monmouth Park, which opened a month earlier.
Borgata and Monmouth each eclipsed $2 million in revenue, separated by some $200,000, while Ocean Resort reported $999,858.
As for the rest of the retail sportsbooks:
Quick takeaways on NJ sports betting revenue
Rebuck’s statement of September stunning the industry may have set expectations too high. Or maybe, with an industry still only a few months old and still growing, these figures are indeed stunning.
That said, the New Jersey industry is the most expansive in the country outside of Nevada.
With eight land-based facilities and eight mobile sportsbooks, certainly a reasonable expectation for many was for the Garden State to, at the very least, get over $200 million in handle. Especially with football season getting underway.
Yet the mobile market has already passed land-based operations, lead by DraftKings and FanDuel. That trend should continue. And October could prove to be the “stunning” month many perceived when Rebuck spoke in Vegas.
After all, all eight NJ mobile sportsbooks will have settled in. Same for all of the retail locations. Additionally, October is NFL’s second month. Baseball, while winding down, is in the highly watched postseason. Hockey and basketball will get going.
The full heat of the sports calendar will be turned up in October. And if September’s numbers are any indication, this month could truly be the stunning report Rebuck hinted at.