November’s NJ sports betting handle was $1.1 billion – the second highest for 2022. The New Jersey Division of Gaming Enforcement (DGE) released the latest monthly figures earlier today.
Notably, the Garden State is on pace to exceed $10 billion in yearly handle when December numbers are released in early 2023. The year-to-date total currently stands at just under $9.9 billion.
NJ sportsbooks earned $80.4 million in revenue which is down nearly 30% from the same period last year. Despite the significant drop, the total is still good enough for No. 2 through the first 11 months of 2022. September’s $98 million holds the top spot.
Of course it’s hard to ignore NJ online casino revenue as November’s total came in at $146.2 million, nearly tying last month’s all-time mark of $147.2 million. This marks the third time in NJ gambling’s 9-year history that the monthly total has earned at least $140 million. And all three of those performances have come during the current year.
The monthly online casino revenue is a 23.9% increase over November 2021.
Here is a closer look the latest NJ sports betting and online casino results.
November NJ sports betting handle ranks No. 3 for 2022
While $1.1 billion is a big number, it’s not enough to crack the all-time top five. Clearly, the Garden State is taking a small hit as a result of New York’s robust mobile sports betting market. That’s the downside.
The positive is handle has passed the $1-billion mark for the fourth time this year (with December most likely being a similar story). So November’s $1.1 billion is the third-best betting month for 2022, and is slightly better than October’s $1.06 billion. January ($1.35 billion) and March ($1.12 billion) were the two strongest months this year.
NJ online casino revenue still chasing $150 million
For those expecting NJ online casino gambling to have its first $150-million month, keep waiting. The target is well within reach, but the industry might be reaching its ceiling. We’re talking about the most mature of the legal US online casino markets.
Of course there is nothing shabby about a $146-million month as it’s good enough for No. 2 all time. There is no doubting that the sector is still a major New Jersey tax revenue generator as the year-to-date revenue total now sits at $1.5 billion and counting. That amounts to $226.6 million in taxes.
NJ sports betting and online casino highlights
3 NJ sports betting takeaways from November 2022
- The Meadowlands Racetrack (led by FanDuel Sportsbook and PointsBet NJ) continues to be the top dog among NJ sports betting license holders, with $48.8 million in November revenue. While it significantly crushes the results produced by the nine Atlantic City casino license holders ($27.4 million), the number is off 24.3% from the same period last year.
- Resorts Digital continues to be the AC market leader, accounting for $16.6 million of the Atlantic City total with just two skins (DraftKings Sportsbook and Fox Bet).
- Borgata (BetMGM and Borgata) was the only other significant AC revenue producer, reporting $7.7 million for the month.
3 NJ online casino takeaways from November 2022
- Now that Ocean Casino Resort has four skins operating under its license (the newest being PlayStar Casino), the license holder is seeing a significant 109.7% year-over-year increase in its monthly total ($3.4 million versus $1.62 million).
- Tropicana Atlantic City with just one skin currently under its license (branded Caesars Casino for now) earned $5.5 million, which tops Ocean and Bally’s AC ($4.8 million) and Hard Rock Atlantic City ($5 million), both of which have three brands.
- In terms of market share, the big three remain the same with Borgata ($44.3 million), Golden Nugget Atlantic City ($37.7 million), led by its namesake brand, and Resorts Digital ($37.4 million).