NJ sports betting handle continued to hold strong against New York, even while its neighbor set a new US monthly handle high.
October was the fourth straight month of year-over-year handle growth for NJ sportsbooks after 12 months of declines.
New York became the first state in the post-PASPA era to eclipse $2 billion in bets during a single month in September. New Jersey sportsbook apps, meanwhile, posted record-high online handle in September.
Positive NJ sports betting trends
Total sports betting handle increased by 22% year-over-year in October, which suggests sportsbooks regained their footing in New Jersey.
Operators took $1.293 billion in bets compared to $1.060 billion in October 2022. Both months had five NFL betting Sundays.
| Month | 2023 | 2022 | Increase |
|---|---|---|---|
| October | $1.293 billion | $1.060 billion | +22% |
| September | $1.299 billion | $866.7 million | +50% |
| August | $725.8 million | $546.8 million | +33% |
| July | $587 million | $531.9 million | +10% |
Revenue shows similar growth
NJ sports betting revenue similarly showed a positive trend line in recent months.
Revenue reached $92.3 million in October. It was another noticeable increase over the same month last year, when New Jersey sportsbooks cleared $77.9 million.
According to the most recent state report released last week, revenue is up nearly 35% year-to-date. NJ sports betting companies made $801.3 million through October, compared to $594.8 million during the same period last year.
| Month | 2023 | 2022 | Increase |
|---|---|---|---|
| October | $92.3 million | $77.9 million | +18% |
| September | $111.1 million | $98 million | +13% |
| August | $96 million | $65.3 million | +47% |
| July | $61 million | $45 million | +36% |
FanDuel makes October statement
The Meadowlands Racetrack license, headlined by FanDuel along with SuperBook and Fanatics-owned PointsBet, reclaimed the October revenue lead with $60.2 million. It is up from $34.1 million generated from online and in-person wagers in September.
The group of operators was second-best in August and September behind DraftKings and the Resorts sports betting app under the Resorts Digital Gaming banner.
DraftKings and Resorts posted $15.3 million in October revenue, down from $49.9 million in September.
NJ sports betting best of the rest
BetMGM, under the Borgata license, made $7.8 million in October revenue, down from $11.5 million the month before.
The trio tethered to the Hard Rock Atlantic City license, bet365, Hard Rock Bet, and Unibet, experienced a short-lived September revenue spike.
The group saw their $4.8 million September total cut in half last month as they combined for $2.3 million in total October revenue.
