NJ Sportsbooks Celebrate Historic November, Report New Monthly Revenue Record

Written By David Danzis on December 17, 2021

New Jersey sportsbooks set a new monthly record in November, reporting nearly $114.8 million in total revenue.

November’s revenue for New Jersey sportsbooks easily bested October’s total of $84.2 million and was 127% higher than November 2020.

According to data released Thursday by the state Division of Gaming Enforcement, New Jersey sportsbooks took just under $1.26 billion in legal wagers last month.

It is the third consecutive month New Jersey sportsbooks have reported a handle — the amount gambled — of more than $1 billion.

In the last three months, Garden State sportsbooks have handled $3.6 billion in legal wagers and generated $281.4 million in operator revenue. October’s $1.3 billion in monthly sports betting handle is the all-time U.S record.

How high can New Jersey sportsbooks go?

Although New Jersey’s sports betting market is more than three years old, operators are still in customer acquisition mode. Matching deposit bonuses, free play and a near-endless stream of promotions continue attracting new players, and more money, to the market.

As additional online operators join the market, New Jersey sportsbooks are going to keep growing.

“The marketing spend, the reinvestment, hasn’t really slowed down,” Tom Gable, director of race and sports at Borgata Hotel Casino & Spa in Atlantic City, told PlayNJ. “So as long as that keeps pace, you’re going to see these big numbers keep coming out every month.”

New Jersey sportsbooks have now taken in $20.9 billion in wagers since the market first opened in June 2018. In that time, New Jersey sportsbooks have netted $1.55 billion in revenue.

New Jersey is the only state to achieve both of those milestones since 2018.

Pigskin and hoops top the charts in NJ

November’s sports betting results were largely driven by professional and college football. However, basketball betting is big in Jersey, too.

Football betting at New Jersey sportsbooks generated $401.3 million in wagers last month. That figure is down considerably from October’s $499 million.

The start of college basketball added to NBA betting in November. According to the NJDGE, $399.7 million was bet on hoops, up from $159.6 million in October.

For the year, basketball has attracted $2.3 billion in bets, the most of any sport. Football is second with $1.6 billion in wagers in 2021.

Online/mobile still king of New Jersey sportsbooks

Online sports betting continues to dominate New Jersey’s market. Almost 91% of the total money wagered last month was done online or via a mobile sports betting app.

More than 93% of November’s sports betting revenue was generated by online sportsbooks.

A handful of New Jersey sports betting licensees and their online operators set revenue records in November.

All three state-licensed racetracks — Meadowlands, Monmouth Park, Freehold — hit all-time highs, as did Resorts Digital and Caesars Atlantic City.

Breaking down November’s numbers

The Meadowlands Racetrack, which includes FanDuel Sportsbook, PointsBet and SuperBook, continued its dominance with $64.4 million in gross revenue. That figure topped the combined $37.5 million reported by the nine AC casino license holders and their online partners.

As far as the Atlantic City market goes, Resorts Digital (DraftKings Sportsbook, Fox Bet and Resorts) claimed the top spot with $22.4 million.

Freehold (Barstool and PlayUp) claimed the third spot this month, with just over $7.9 million. Borgata (BetMGM and Borgata Sports) reported just over $7.7 million.

Here’s how the other operators did in November:

LicenseeOnline Brand(s)Total RevenueOnline RevenueRetail RevenueState TaxLocal Tax
MeadowlandsFanDuel | PointsBet | SuperBook$64,399,740$59,045,331$5,354,409$8,131,040$1,543,067
Resorts Atlantic CityDraftKings | Fox Bet | Resorts$22,530,015$22,448,197$81,818$2,925,221$562,228
FreeholdBarstool | PlayUp$7,927,171$7,635,571$291,600$1,019,228$194,884
BorgataBetMGM | Borgata$7,773,888$8,433,867-$659,979$1,040,305$202,597
Monmouth ParkCaesars | SugarHouse | theScore$4,978,520$3,557,576$1,420,944$583,313$106,708
Tropicana Atlantic CityCaesars$3,644,951$3,391,754$253,197$462,431$87,956
Hard Rock Atlantic CityHard Rock | bet365 | Unibet$1,333,563$1,240,863$92,700$169,192$32,180
Caesars Atlantic CityCaesars | 888 | Wynn$891,405$693,137$198,268$106,961$19,807
OceanCaesars | Tipico$830,334$307,207$523,127$84,356$14,212
Golden Nugget Atlantic CityGolden Nugget | BetAmerica | Betway$212,530$174,112$38,418$25,901$4,833
Bally's Atlantic CityN/A$164,912$0$164,912$14,018$2,061
Harrah's Atlantic CityN/A$101,694$0$101,694$8,656$1,273
Total$114,788,723$106,927,615$7,861,108$14,570,622$2,771,806

AP Photo/Charlie Riedel

 

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David Danzis

David Danzis is the lead writer for PlayNJ. He is a New Jersey native and honors graduate of Rutgers University. As a newspaper reporter for the New Jersey Herald and Press of Atlantic City, David earned statewide awards for his coverage of politics, government, education, sports and business. Today, he is PlayNJ’s Atlantic City “insider” and gaming industry expert on casinos, sports betting and online gambling. David lives in Mays Landing with his wife and two children. When not on the beach, a golf course, or snowboarding, David enjoys watching his beloved New York sports teams — Yankees, Jets, Rangers and Knicks.

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