New Jersey sportsbooks take record $1.3bn in bets in October

For the second month in a row sportsbooks in the Garden State have taken more than $1bn in bets.

According to the latest figures from the New Jersey Division of Gaming Enforcement (NJDGE), betters in the state wagered a total of $1.303bn on sporting events in October.

A total of $1.179bn was wagered via online and mobile sportsbooks in the state while $124.2m was wagered in person at the state’s land-based facilities.

The latest figure marks a new all-time high for sports betting handle in the state and marks a 28.9% month-on-month increase on the $1.011bn wagered the previous month.

Sportsbooks in the Garden State also posted a record-breaking sports betting revenue figure of $84.2m. October’s sports betting revenue was up from the $82.4m generated in September.

In October sportsbooks paid just under $10.6m in taxes to the state, marking another record for the market. In September sportsbooks paid $10.2m in tax revenue to the state.

The latest figures also represent massive jumps on figures from this time last year, which were all records at that point too. Sports betting handle is up 32.3% from the $803.1m wagered in October 2020, while revenue is also up 43.8% from $58.5m.

A contributing factor to October’s success is likely the fact that October had five full Friday through Sunday weekends, giving sportsbooks plenty of time to take more bets on college and professional football.

New Jersey leads the US betting market

New Jersey’s $1.3bn in sports betting handle for the month of October represents 38.9% of the total US sports betting handle as of 17 November. On top of this, New Jersey’s revenue makes up 43.5% of all reported revenue so far.

Pennsylvania is the second-highest performing state in October with $776.3m in handle and $42.3m in revenue.

Indiana followed with $461.1m in bets and $27.7m in revenue while Tennessee takes the fourth spot with $375.3m in bets and $23.3m in revenue.

Several states have yet to publish their sports betting figures for October so this list is likely to change in the coming days and weeks.

How the operators performed 

Once again, the meadowlands license, which hosts the FanDuel, PointsBet, and SuperBook brands, dominated the market with a total revenue figure of $44.1m. Of this, $39.6m came from online operations while $4.5m came from land-based sportsbooks.

The Resorts license, which hosts DraftKings, Fox Bet, and Resorts, trailed in a distant second place with just under $16m in revenue for the month.

The Borgata, which is partnered with BetMGM, took $8m in revenue, placing the licensee in third place for the month.

Meanwhile, the Freehold Raceway license, which houses Barstool and PlayUp, managed to generate $7m in revenue for the month. Monmouth Park, which is partnered with Caesars, SugarHouse, and theScore followed with $4.5m in revenue.

The Tropicana, which houses Caesars Sportsbook, took sixth place in October with $2.2m in revenue.

The only other licensee to pass the $1m revenue mark was Hard Rock. The Hard Rock license houses the Hard Rock, bet365, and Unibet brands which generated a combined $1m for the month.

What did people bet on?

When it comes to individual sports, football was the most popular, accounting for just over $499m in bets and $11.8m in revenue for the month.

Parlay bets were managed to generate $47.5m in revenue from $317m in wagers.

Sports in the other category made up $205.1m and $9.8m of the state’s handle and revenue figures in October.

Meanwhile, basketball managed to generate $4m in revenue from $156.9m in bets, as baseball brought in $127m in bets and $8.6m in revenue.