Sports Gambling Revenue Nj
Overall gambling revenue in October stood at $338.1m (£255.9m/€285.1m), up from $293.9m in the same month last year and also 4.6% higher than $323.3m in September of this year.
Data released by the New Jersey Division of Gaming Enforcement (NJDGE) show several new records for the state’s sports wagering market, including revenue, which reached an all-time monthly high of $58.5m, up 26.1% on last year and surpassing the previous record set in January 2020.
New Jersey’s sports betting handle also reached a record $803.1m, smashing the previous record set in September this year and marking the first time the handle surpassed $800m in a single month. Some $743.9m was staked online, while players spent $59.2m at retail sportsbooks.
Meadowlands and its sub-licensees FanDuel and PointsBet retained top sport in the market with $29.8m in revenue, up 20.2% on last year. Resorts Digital and partners DraftKings ranked in a distant second with $14.6m in revenue, a 37.7% year-on-year increase.
Sports Gambling Revenue By State
The first online sports bet was taken in August 2018. As of 2020, there are 17 legal online sportsbooks licensed by the New Jersey Division of Gaming Enforcement. Online gambling. In January 2011, the New Jersey Legislature passed a bill sponsored by Raymond Lesniak to allow online gambling by New Jersey residents over 21. The New Jersey sports betting market has been on a roll. Setting records for the past two months, the NJ sports betting market hit another high in October with over $803 million. The state's gambling revenue went up by 15% in October. In August, New Jersey broke the previous records with about $667. The financial data released by the New Jersey Division of Gaming Enforcement on Wednesday showed a 58.3 percent decline in gross revenues for sports betting operations at racetracks and casinos.
Sports Gambling Revenue Statistics
- Land-based sports betting has been legal in the U.S. State of New Jersey since June 11, 2018. This means it is now possible to play college sports betting, MLB sports betting, and NBA sports.
- New Jersey sports betting tax revenue is on track to account for only about 0.07% of the state’s current $37 billion budget, according to Washburn.