New Jersey sports betting is enjoying one hot summer.
And the numbers will likely be too hot for Nevada to handle once again.
The New Jersey Division of Gaming Enforcement released its August numbers earlier today, and total bets came in at $293,594,862.
The bulk of it ($249,237,590) came via online sportsbooks.
For a point of reference, Nevada’s record handle for the month is $301 million. That was set in 2017, the same month Floyd Mayweather fought Connor McGregor in Las Vegas.
However, it’s a very real possibility that the Garden State will top the Silver State in handle for the second straight month.
However, this is not the only big piece of news to come out of the report.
NJ sports betting revenue came in at $25,210,342. This marks an eye-opening 174.1% increase from the same period last year.
The combination of 10 permanent sportsbooks and 17 apps (a few of which launched this month) is definitely impacting the market.
We repeat: FanDuel is still king
One of the monthly themes of the NJ sports wagering story is the dominance of FanDuel Sportsbook. The Meadowlands Racetrack, it’s land-based partner, reported revenue of $11,867,559.
While PointsBet NJ also operates under the license, FanDuel accounts for the majority of the number.
The Meadowlands number is up 287.6% year over year.
But there is an asterisk next to the percentage increase.
The FanDuel app didn’t launch until Sept. 1 of last year. It means next month will provide a more accurate year-over-year comparison.
The Meadowlands reported that $9,269,586 of its August revenue came via online operators.
August sports betting revenue: the big picture
The overall NJ sports betting market is looking extremely healthy at this point with nine of the 10 license holders reporting year-over-year percentage increases.
In other words, a slow month for sports couldn’t slow down New Jersey bettors.
Resorts Digital finished second with $6,697,318 in revenue (the majority of which is from DraftKings). That is good enough for a 125.5% increase.
Harrah’s Atlantic City was the only operator to report a decrease with revenue of just $155,715. But that is a retail-only number.
Here is a breakdown of how the operators fared for the month:
|Property (Online)||Online Revenue||Retail Revenue||August Total|
|Bally's (Caesars, 888)||$340,832||$278,169||$619,001|
|Borgata (BetMGM, Borgata Sports)||$261,312||$669,669||$930,981|
|Golden Nugget (BetAmerica, GN Online)||$181,427||$263,030||$444,457|
|Hard Rock (Hard Rock online, Bet365 NJ)||$106,487||$182,995||$289,482|
|Meadowlands (FanDuel, PointsBet)||$9,269,586||$2,597,973||$11,867,559|
|Monmouth (William Hill, SugarHouse, TheScore Bet)||$1,388,662||$697,075||$2,085,737|
|Ocean Resort (William Hill)||$915,129||$353,832||$1,268,961|
|Resorts (DraftKings, Fox Bet, Resorts Online)||$6,697,318||$527,158||$7,224,476|
|Tropicana (William Hill)||$39,638||$284,335||$323,973|
NJ online sports betting one year later
If we look back to August 2018, sports betting revenue came in at just $9,198,272. Operators took in more than $95 million in wagers.
But there are two major factors that can be attributed to what made this August so different.
Last August, there were just three mobile apps on the market:
It also happens to be the last time NJ retail handle topped mobile.
The other key factor was the majority of the Atlantic City casinos had temporary retail operations. And a few of them weren’t even open for business yet.
Here comes Bet365, theScore Bet, Unibet and Fox Bet
Both are considered sports betting giants overseas.
TheScore Bet, via Monmouth Park, also went live two days before the first NFL game of the regular season.
Plus, the rebranded Fox Bet (formerly BetStars NJ) and BetMGM apps are technically new to the market if only by name.
September may provide the first glimpse of whether or not these apps will take a bite out of the FanDuel/DraftKings pie. But we also may not see any true change in the status quo until further into the football season.
On the retail side, The Book at Bally’s had its grand-opening celebration on Sunday. At more than 15,000 square feet, it’s by far the biggest in AC.
Combine all these factors together, and New Jersey is showing it has what it takes to keep up with Nevada.