New Jersey sportsbooks took in more than $95 million in bets in August with an increasing percentage moving over to the online and mobile sports betting side of the ledger.
In fact, in the first month with online and mobile sports betting in the state, numbers released by the state’s Division of Gaming Enforcement this week show approximately 22.7 percent of the money wagered was bet on the DraftKings Sportsbook, playMGM Sports, and SugarHouse Sportsbook.
A huge percentage, considering only DraftKings Sportsbook was operational throughout most of August. The other two launched on Aug. 22 and Aug. 23, respectively.
A growing NJ online sports betting sector
There are now seven mobile and online sportsbooks in New Jersey. 888 Sport is the newest to the NJ sports betting scene, though it is still in soft launch mode.
As a result, the $21.7 million bet in August on mobile sports betting apps and online sportsbooks is a good bet to grow in September.
All told, the New Jersey racetracks and Atlantic City casinos offering sports betting turned the $95 million in bets into $9.2 million in gross revenue. Of course, that number is before various operational expenses have been deducted and futures bets settled.
FanDuel at Meadowlands stands as king of retail
For the second month in a row, FanDuel Sportsbook at Meadowlands Racetrack became the top-grossing sportsbook in August.
It was only taking bets for half of July and more-than-doubled its monthly revenue to just over $3 million in August. That number helped FanDuel Sportsbook at Meadowlands push past Monmouth Park Sports Book by William Hill as the top-grossing sportsbook in the state since launch.
Total gross revenue at FanDuel Sportsbook at Meadowlands Racetrack since launch is now at $4.43 million. In the meantime, Monmouth Park Sports Book by William Hill posted $898,017 in gross revenue in August, making its total since launch $4.03 million.
Resorts and DraftKings Sportsbook shock the world
Resorts jumped the queue in August to become the top-grossing casino-based sports betting operation in the state.
The retail sportsbook that launched on the property on Aug. 15 posted slightly less than $100,000 in gross revenue. However, DraftKings Sportsbook reported approximately $2.97 million in gross revenue operating under Resorts’ license.
In fact, with Borgata Hotel Casino & Spa posting $855,152 in gross revenue last month, bringing total revenue since launch at the playMGM Sports online and Borgata Race & Sports Book retail operations up to $2.4 million, Resorts jumped to the top of the Atlantic City casino-based sports betting sector in just its first month.
Additionally, combined revenues at Resorts in August added up to even more than those at FanDuel Sportsbook at the Meadowlands.
A down month for Ocean Resort sportsbook
Last month, the William Hill Sports Book at Ocean Resort Casino appeared poised to become the top casino-based sportsbook in NJ. Of course, that was before Resorts and DraftKings Sportsbook stole everyone’s thunder.
Operating sports betting out of a temporary location until the NFL season kicked off on Sept. 6, the Ocean Resort Casino (Caesars NJ sportsbook) actually had a down month. It posted just $519,563 in gross revenue in August compared to $1,036,766 in July.
As a result, it now sits a distant third behind Resorts and Borgata.
September should provide an even clearer picture of what the New Jersey sports betting market is all about because:
- The NFL season will be in full swing.
- Retail sportsbooks at two casinos and two online sports betting sites will enjoy a first full month in business.
- And at least four more online and mobile sportsbooks have entered the market.