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New Jersey smashes betting handle record with $1.30bn in October


Sports betting revenue hit an all-time high in New Jersey during October as players spent a record $1.30bn wagering on sports, while online casino revenue in the state also reached a new monthly high.

Total gambling revenue for the month amounted to $448.7m, up 32.7% from $338.1m in the same month last year, but slightly lower than the $453.6m generated in September of this year.

Sports wagering revenue for the month reached $84.2m, an increase of 43.8% on last year and a new record for the state.

Player staking stood at $1.30bn, another record for New Jersey and the highest monthly total of any regulated state in the US since the repeal of PASPA. A total of $1.18bn was placed through online sportsbooks, while the remaining $124.2m wagered at retail facilities.

FanDuel and PointsBet at Meadowlands retained a healthy lead in the sports betting sector, posting $44.1m in revenue, ahead of Resorts Digital and DraftKings with $15.9m and the Borgata and BetMGM on $8.0m.

Turning to online casino and revenue for this area of the market climbed by 35.9% year-on-year to $127.0m, another new monthly record for the state. The vast majority of this total – $124.6m – came from online slots, with the remaining $2.4m from peer-to-peer poker.

Borgata remained the market leader in igaming with $38.8m in revenue, followed by Golden Nugget Online Gaming (GNOG) on $34.5m, then Resorts Digital with $29.3m.

Looking at the state’s Atlantic City casinos, revenue was 27.6% higher at $237.5m. Of this total, $179.3m came from slot machines, while $58.3m was generated from table games.

In terms of year-to-date performance, total market revenue for the 10 months through to the end of September was $3.89bn, up 70.8% from $2.28bn at the same point last year.

Sports betting revenue was 128.0% higher at $641.9m, while igaming win increased 43.2% to $1.12bn and land-based casino revenue 75.2% to $2.14bn.