DraftKings Pops For Big NJ Sports Betting Revenue Gains

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NJ sports betting

NJ sports betting revenue approached record-high levels in August, with DraftKings posting the biggest monthly gains.

According to figures released last week by the New Jersey Division of Gaming Enforcement, DraftKings, and the Resorts World Bet app under Resorts Digital Gaming, cleared nearly $57 million in monthly revenue.

It was a nearly 200% jump compared to July when the group combined for nearly $19.1 million in New Jersey sports betting revenue.

Near-record NJ sports betting revenue

Resorts’ August revenue is the second-highest monthly total ever in New Jersey. Meadowlands Racetrack, highlighted by FanDuel, cleared $64.4 million in November 2021.

New Jersey sportsbooks cleared more than $96 million last month. It was the third-highest revenue figure in New Jersey sports betting history:

Back and forth for revenue lead

In August, Meadowlands Racetrack dropped back to second-best in revenue. The licensee generated 27% of all sports betting revenue in New Jersey with $25.7 million.

Meadowlands and Resorts have traded places atop the New Jersey revenue leaderboard throughout the summer.

New Jersey shares combined revenue from up to three online operators under a single operating license tied to an Atlantic City casino or an authorized racetrack. The state does not provide financial figures from individual sportsbooks, though FanDuel and DraftKings comprise the overwhelming majority of their licenses’ money.

NJ sports betting revenue run continues

August provided a big spike in year-over-year revenue for NJ sports betting operators. The $96 million total was a 47% boost over the same month last year ($65.3 million.)

Year-over-year revenue increased for the ninth consecutive month in New Jersey.

The state collected $13.5 million in August sports betting taxes.

Handle surpasses another milestone

New Jersey sports bettors staked $725.8 million in August, a 33% increase over the same month last year ($546.8 million.)

The total pushed all-time handle over $40 billion since the June 2018 launch in the Garden State.

New Jersey is the first state in the post-PASPA era to accept $40 billion in bets.