For 54 straight months, the New Jersey sports betting world has been run by Meadowlands Racetrack and its online sportsbook partners.
That streak ended in August.
For the first time since January 2019, NJ sports betting has a new market leader as Resorts, headlined by DraftKings Sportsbook, reported the second-best monthly revenue total – $56.99 million – in the five-year history of legal sports betting in the Garden State.
And it highlighted a record-setting August
DraftKings powers Resorts to No. 1 spot
Almost everything about Resorts’ August revenue report stands out.
All told, Resorts posted nearly $57 million in total revenue, with DraftKings Sportsbook NJ no doubt accounting for the majority of that bottom line. After all, consider that of that total, $56.92 million came online, equating to 99.9% of Resorts’ overall betting revenue.
Only one other time since January 2019 did Resorts claim the top spot for online revenue, which occurred two months ago.
Resorts, which had never before exceeded $30 million in total revenue, saw a monster 198% spike from July to August, a difference of almost $38 million. It marked just the second time a licensee in New Jersey topped $50 million in total revenue.
Only the Meadowlands in November 2021 ($64.4 million) had a better single month in terms of revenue.
Taking a look at the rest of the NJ sports betting landscape
Somehow Resorts blew past the Meadowlands, headlined by FanDuel Sportsbook NJ. The licenseholder totaled $25.7 million in August revenue, making the Meadowlands and Resorts the only two licensees to top $5 million in total revenue.
The other 10 licenseholders combined for $13.3 million in revenue, reflecting just 13.9% of the market.
Together, New Jersey sportsbooks combined for $725.8 million in handle and over $96 million in revenue, both all-time records for August in the Garden State.
Year to date, sportsbooks in NJ have accepted $6.5 billion in bets, just off the 2022 pace of $6.9 billion. The $597.9 million in revenue is well ahead of the previous high through August, $475 million set in 2021.
| Licensee | Online Brand(s) | Total Revenue | Retail Revenue | Online Revenue | Total Tax Obligation |
|---|---|---|---|---|---|
| Resorts Atlantic City | DraftKings | Fox Bet | Resorts | $56,989,293 | $68,081 | $56,921,212 | $7,413,329 |
| Meadowlands | FanDuel | PointsBet | SuperBook | $25,731,335 | $1,558,719 | $24,172,616 | $3,275,023 |
| Borgata | BetMGM | Borgata | $4,720,216 | $271,454 | $4,448,762 | $601,413 |
| Hard Rock Atlantic City | Hard Rock | bet365 | Unibet | $2,300,819 | $189,291 | $2,111,528 | $290,589 |
| Freehold | Barstool | PlayUp | betParx | $2,276,266 | $148,865 | $2,127,401 | $289,240 |
| Tropicana Atlantic City | Caesars | Mojo | $2,023,791 | $74,085 | $1,949,706 | $259,773 |
| Monmouth Park | Caesars | BetRivers | $1,325,598 | $141,744 | $1,183,854 | $165,955 |
| Ocean | Tipico | $470,815 | $234,972 | $235,843 | $50,659 |
| Golden Nugget Atlantic City | Golden Nugget | Betway | $116,690 | ($18,719) | $135,409 | $16,012 |
| Bally's Atlantic City | Sporttrade | $85,934 | $36,391 | $49,543 | $9,534 |
| Caesars Atlantic City | WynnBet | $35,267 | $73,780 | ($38,513) | $1,264 |
| Harrah's Atlantic City | Prophet | ($35,005) | $55,361 | ($90,366) | ($7,041) |
| Total | $96,041,019 | $2,834,024 | $93,206,995 | $12,365,750 |
NJ sports betting ready for some football
The sports betting season kicked off with the start of the college football and NFL seasons. It’s the time of year every bettor and sportsbook looks forward to, and NJ sportsbooks expect another big year, fueled by plenty of NFL-related NJ sports betting promos.
In four of the five years of legal sports betting in NJ, sportsbooks saw handle jump a minimum of 51.8% from August to September. That includes 2021 (which featured a handle spike of $346 million) and 2022 ($319 million).
The record for highest handle in September stands at $1.01 billion set two years ago. Could it be possible for 2023 to see NJ sportsbooks report over $1.1 billion as previous trends suggest?
August was record-breaking in New Jersey. September could follow suit.
