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After taking a beating on football in October, New Jersey sports betting revenue rebounded strongly in November.
Garden State operators generated $21.2 million in revenue on a whopping $330 million in overall handle. That represents by far the most money wagered in a single month to date in the nascent NJ sports betting market.
That win resulted in $2.45 million in tax revenue from New Jersey sports betting.
Football bettors in New Jersey (and elsewhere) enjoyed a fine October, leading to books losing revenue while growing handle. In October, NJ sports betting brought in just $11.7 million in revenue while increasing to $260 million in total wagers.
Here’s how New Jersey sports betting revenue breaks down by operator for November:
|Property (Online)||Digital||Retail||November Total||October Total|
|Bally's Wild Wild West (Caesars, 888)||$205,046||($26,557)||$178,489||$411,599|
|Monmouth Park (William Hill, SugarHouse)||$1,521,295||$1,158,100||$2,679,395||$1,215,592|
|Ocean Resort (William Hill)||$915,930||$1,908,742||$2,824,762||$824,193|
|Resorts (DraftKings, BetStars)||$7,172,171||$158,332||$7,330,503||$5,187,566|
DraftKings Sportsbook and FanDuel Sportsbook continued their strong run in New Jersey sports betting. With brand recognition on their side, the daily fantasy sports giants quickly are becoming sports betting leaders.
The pair combined for roughly two-thirds of overall revenue generated in NJ sports betting. That came via FanDuel Sportsbook at Meadowlands Racetrack and DraftKings Sportsbook’s presence via Resorts Casino.
DraftKings accounts for more than 95 percent of Resorts digital revenue, according to the company. BetStars also operates a skin through Resorts.
FanDuel spokesman Kevin Hennessy:
“November was a history making month for the FanDuel Sportsbook. We doubled revenue versus October and we were the first legal sports betting operator in the United States to pay out future wagers early on Alabama winning the college football national championship.”
And with what could be a slight barb toward its Irish-owned competitor in closing, DraftKings senior director of digital sportsbook Jamie Shea:
“Since August, DraftKings has taken more than 8 million bets and paid out $250 million to sports fans. Our new retail sportsbook at Resorts had a strong first month, capped with an exciting consumer event this past weekend. No one understands the American sports fan like DraftKings.”
It took only a couple of months for online revenue from New Jersey sports betting to surpass retail revenue. That gap widened even more significantly in November as the last of football’s traditional huge months drove growth in handle.
More than 72 percent of money wagered on sports in New Jersey in November came via mobile and online platforms. Of the $330 million total, more than $238 million came via those channels.
Overall, New Jersey sports betting revenue checks in at better than $73 million since its June launch.