Monthly NJ sports betting handle is over $1 billion once again. The New Jersey Division of Gaming Enforcement (DGE) released October numbers earlier today, and Garden State gamblers wagered over $1.06 billion for the month. The news isn’t surprising as the jump coincides with a full month of NFL betting combined with the Philadelphia Phillies advancing to the World Series.
NJ sportsbooks earned $77.9 million in revenue which is down 7.4% from the same period last year. The industry fared much better in September with nearly $98 million in monthly revenue.
However, the even bigger story is October set a new all-time monthly record for NJ online casino revenue with $147.2 million. This tops the previous high of $140.6 million set in March 2022. These are the only two times since the industry’s 2013 launch that NJ online casinos have earned over $140 million. October’s performance also marks a 15.9% year-over-year increase from the same period last year ($127 million).
October NJ sports betting handle tops $1 billion again
October’s total bets rank it sixth all-time, and it marks the third time this year the monthly figure has exceeded $1 billion. The others are January 2022 (an all-time high of $1.35 billion) and March 2022 ($1.12 billion) when March Madness betting was the focus.
Monthly handle exceeded $1 billion for the first time ever in September 2021. And it was just the start of bigger months ahead. October marks the seventh time overall NJ bettors wagered over $1 billion in a month. Here is a closer look at where the latest result ranks:
- Jan. 2022: $1.35 billion
- Oct. 2021: $1.3 billion (set a US record that has since been broken by both the NJ and NY markets)
- Nov. 2021: $1.26 billion
- Dec. 2021: $1.23 Billion
- March 2022: $1.12 billion
- October 2022: $1.06 billion
- September 2021: $1.01 billion
NJ online casino industry continues setting records
Those who were expecting to start seeing NJ online casino revenue level off are still awaiting to see when this sector will finally hit its ceiling. The latest results show it clearly isn’t $140 million.
And in September, the industry passed $5 billion in all-time performance. The timing of these record-breaking numbers seems rather fitting being that later this month marks the ninth anniversary since NJ mobile casinos made their Garden State debut.
Is a $150-million month for November or December suddenly a realistic possibility? Time will tell but it appears within reach.
Quick rundown from October NJ sports betting and casino results
3 NJ sports betting takeaways from October 2022
- The Meadowlands Racetrack continues to dominate the NJ sports betting revenue field, earning $45,4 million last month. To put this number in perspective, the nine Atlantic City license holders reported a tad over $29 million combined. While NJ regulators don’t break down the numbers by individual sportsbooks, it’s our understanding that FanDuel Sportsbook accounts for the bulk of the total (PointsBet and SuperBook also operate under the Meadowlands license. The close proximity to New York City also helps FanDuel’s retail business.)
- Resorts Digital (the online arm of Resorts Atlantic City) topped the AC market with $17.2 million, accounted for the bulk of the town’s total performance. This does not include the additional $67,432 reported from the DraftKings Sportsbook at Resorts. PlayNJ estimates that the bulk of the Resorts Digital result also comes via DraftKings (Fox Bet falls under the mobile license as well).
- Year-to-date sports betting revenue now sits at $594.8 million and over $2 billion since its 2018 launch.
3 NJ online casino takeaways from October 2022
- Like with the land-based results, Borgata Hotel Casino & Spa, which is owned by MGM Resorts, led all license holders with $40.9 million (BetMGM and Borgata online casinos both fall under this license). The latest results increases the 2022 total to $408.3 million, which is a 19.6% year-over-year increase.
- Bally’s AC is becoming a much bigger contributor to the NJ online casino pie thanks to having three brands operated under its license (Bally Casino, Virgin Casino and PointsBet Casino). The Bally brand launched earlier this year and Virgin moved over from the Tropicana AC license. October’s $4.72 million is up an eye-opening 1,649% from last fall when only PointsBet was live.
- Golden Nugget AC (led by Golden Nugget, BetRivers and FanDuel online casino brands) and Resorts Digital (DraftKings Casino, PokerStars, Resorts and Barstool) both just missed reporting $40-million months for the first time ever. Resorts earned $39.3 million while Golden Nugget finished a close third with $38.4 million. Like Borgata, both license holders have exceeded $1 billion since their respective NJ gambling debuts.