NJ Sportsbooks Post New Record With $800 Million In Wagers For October

Posted on November 13, 2020

New Jersey sportsbooks set another record for sports betting handle in October, hitting $803 million in total wagers.

That was up more than $50 million from the record set just last month. It was also up some $315 million (65%) from October last year.

The record handle took NJ sportsbooks past $4 billion in total wagers this year. The total across all of 2019 was $4.6 billion.

Operators turned that October handle into $58.5 million in revenues, good for a 7.2% hold. Revenue was up 26% year-on-year.

Around 93% of handle was bet digitally, according to the state report.

FanDuel on top among New Jersey sportsbooks

Once again, the Meadowlands and its two partners, FanDuel Sportsbook and PointsBet, took the top spot in the market with just under $30 million in revenue. 

Resorts Digital, partnered with DraftKings Sportsbook and FOX Bet, was second with $14.6 million.

That was a major bounce back for the Resorts license, which had revenues of just $4.8 million last month.

Elsewhere, BetMGM and land-based casino Borgata did $4.3 million for third place. Monmouth Park and partners William Hill, theScore Bet and PlaySugarHouse finished in fourth with $4.1 million.

The Ocean Casino license, came in fifth with $3.3 million. That includes the retail book in Atlantic City plus signups for William Hill via Ocean. WH operates under three different licensees.

Football is king

Around $279 million was bet on football games in October – 35% of the total handle. Operators made $11.3 million on those bets, good for a 4% hold.
The football figures don’t include parlays, where another $171.5 million was bet. Operators made $19.1 million on parlays at an 11% hold rate.
For the year to date, operators have held just 3.3% of football wagers, compared to 4.3% for basketball and 4.5% for baseball. And operators are holding 13% on parlays for the year.
Photo by Chris Szagola / The Associated Press
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Brad Allen

Brad has been covering the online gambling industry in Europe and the US for more than four years, most recently as the news editor at EGR Global.

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