Meadowlands Hits $1.5 Billion Lifetime Mark As NJ Sports Betting Looks Forward To Football

Written By Grant Lucas on August 18, 2023 - Last Updated on April 10, 2024
meadowlands race track in new jersey

Sportsbooks in New Jersey can’t wait for football to come back. Fortunately, the most bet-on sport in the country is only weeks away from kicking off. And it comes at a good time.

According to data from the Division of Gaming Enforcement, NJ sports betting generated just over $587 million in bets for the month of July – the industry’s lowest monthly handle since August 2022. Similarly, NJ sportsbooks combined for just $61 million in total revenue, which represents the lowest amount since February.

But this was all to be expected, of course. It’s the summer slowdown in terms of major sports schedules. Come September, the NJ sports betting industry will be humming once again.

NJ sports betting enjoys year-over-year uptick

While low relative to other months, July 2023 actually represented a spike for sportsbooks in New Jersey.

In terms of handle, the $587 million reported last month reflects a 10% increase from July 2022. What’s more, the $61 million in NJ sports betting revenue is 35% more than the previous year.

When looking at annual pace, things get interesting for NJ sportsbooks.

Through July 2022, the state collected over $6.3 billion in bets. In 2023, however, handle through seven months sits at just $5.7 billion. However, revenue is way up: $501.8 million in 2023 versus $353.7 million a year ago.

All told, in just over five years of legal sports betting in New Jersey, sportsbooks have reported $39.5 billion in handle as well as $2.9 billion in revenue, which translates to $361.4 million in state tax revenue.

Breaking down NJ sportsbooks

In January 2019, Resorts claimed the top spot in market share in terms of revenue. The following month, Meadowlands took over. And it hasn’t relinquished the title since.

For the 54th straight month, Meadowlands – with its online brands FanDuel Sportsbook NJ, PointsBet Sportsbook NJ and SuperBook Sportsbook NJ – sat atop the revenue rankings, this time with $25.7 million. With that, Meadowlands cross $1.5 billion in lifetime revenue. No other licensee has even hit $500 million.

Resorts, mostly driven by DraftKings Sportsbook NJ, stayed in its usual second spot with $19 million in revenue, which reflects a massive 121% jump from July 2022.

LicenseeOnline Brand(s)Total RevenueRetail RevenueOnline RevenueTotal Tax Obligation
MeadowlandsFanDuel | PointsBet | SuperBook$25,691,811$1,660,444$24,031,367$3,265,076
Resorts Atlantic CityDraftKings | Fox Bet | Resorts$19,095,202$133,670$18,961,532$2,476,374
BorgataBetMGM | Borgata$6,101,847$235,087$5,866,760$782,661
Hard Rock Atlantic CityHard Rock | bet365 | Unibet$3,014,459$331,209$2,683,250$376,976
Tropicana Atlantic CityCaesars | Mojo$2,737,297$121,908$2,615,389$350,364
Monmouth ParkCaesars | BetRivers$1,703,189$364,784$1,338,405$205,011
FreeholdBarstool | PlayUp | betParx$1,621,380$154,978$1,466,402$205,921
OceanTipico$416,800$179,310$237,490$66,931
Caesars Atlantic City888 | WynnBet$300,868$118,364$182,504$33,787
Golden Nugget Atlantic CityGolden Nugget | Betway$196,286$29,123$167,163$24,517
Bally's Atlantic CitySporttrade$95,574$59,437$36,137$9,750
Harrah's Atlantic CityProphet$38,720$74,777($36,057)$1,669
Total$61,013,433$3,463,091$57,550,342$7,799,037

Changes coming to New Jersey sports betting

The NJ sports betting world has seen its fair share of shakeups over the past few weeks. And there will certainly be more ahead.

Toward the end of June, Bally Bet temporarily shut down operations in order to undergo a system-wide transformation of its platform. Earlier this month, Fox Bet decided to shutter its sportsbook, followed a few days later by a similar choice by WynnBet.

Then consider the Fanatics acquisition of PointsBet that opens the NJ sports betting door to that brand. The same goes for ESPN Bet, which will replace Barstool Sportsbook after Penn Entertainment partnered with the Worldwide Leader in Sports.

Yes, more changes are coming for New Jersey sports betting. But one thing is constant: Football is king, and it’s almost here.

Photo by Mel Evans / AP Photo
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Grant Lucas

Grant Lucas is a longtime sportswriter who has covered high school, collegiate, and professional levels. A graduate of Linfield College in McMinnville, Grant now focuses his attention on the growing NJ online gambling and sports betting scene.

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