Upward NJ Sports Betting Trends Continue With Strong October

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NJ sports betting

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.

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.

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, bet365Hard 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.