Tag: results

New Jersey’s Sports Betting Results in October Up

Posted on by Grant Mahon

The State of New Jersey has posted its October results for sports betting, generating some impressive figures over the period. The state’s sportsbooks managed to collected a total handle of $487.9 million. Total gambling revenue for the month in the Garden State hit $2.86 billion.

New Jersey Continues to Post Reassuring Gambling Results

New Jersey has managed to rake in estimated $46.4 million in revenue in October, 2019, posting a strong betting handle for the month as well. Sportsbooks in the state scooped up as much as $487.9 million over the period.

The latest figures surpassed results in September when operators reported $37.9 million in collected revenue. More specifically, the revenue was almost 300% higher than the figure posted in September, 2018, marking a tremendous progress since that time.

Meanwhile, total handle also went up and October saw total bets worth $445.6 million placed. This was 87.14% up from October 2018.

Can New Jersey Beat Nevada in Sports Betting?

The big question is whether New Jersey will manage to outpace Nevada’s own pace of expansion. Everyone knows that the Garden State has a slightly more accessible climate, but Nevada has been the world’s chief gambling hub for a while.

Commenting on these developments, sports and gaming analyst Dustin Gouker had this to say:

“If New Jersey is going to pass Nevada during the NFL season, it will be in large part due to the comparative popularity of basketball in the Northeast. In Nevada, football betting is king, and it’s nearly as popular in New Jersey.

Similarly, Mr. Gouker cautioned that New Jersey sports fans were more active compared to Nevada where the casino gambling industry was leading the way.

Meanwhile, there has been very little evidence to suggest that in either Nevada or New Jersey, online poker can gain any momentum, to the disappointment of poker enthusiasts in both states. Even the recent addition of Pennsylvania as an eligible state hasn’t helped.

The Total Handle in NJ in October

Nevada managed to amass $5.1 million and a total handle of $546.4 million. However, New Jersey has outperformed Nevada in every month leading up to September, definitely a promising sign.
New jersey also saw mobile sports bet to dominate all forms of betting. In fact, estimated $417 million worth of bets were placed online. FanDuel and PointsBet dominated the industry in October once again.

Next came Resorts Digital thanks to its multiple partnerships with leading operators such as The Stars Group and DraftKings.

Monmouth Park and William Hill’s efforts placed them third, generating $2.8 million or up 133.8% compared to October 2018.

Online Gambling Going Up

Official data by New Jersey’s Division of Gaming Enforcement (NJDGE) showed great results insofar as online gambling went. New Jersey posted a 69% increase YOY, with the total amount hitting $45.2 million.

In the conditions of an expanding online gaming and sports betting industry, the retail sector register a modest by reassuring growth of 0.8% at $202.3 million. Combined, the total gaming revenue in the Garden State for October hit $2.86 billion.

Big sports such as the NFL, NBA and MLB remain the chief drivers of all activities in New Jersey.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

New Jersey Posts Record High Results in NJ for March

Posted on by Kat Orlov
  • NJ eclipses March, 2018 gaming results
  • The state’s operators double profit in March 2019
  • NJ is $250 million of hitting $1 billion in total revenue for 2019

    • New Jersey scored big on the March Madness and its iGaming segment continued to grow in the meanwhile. Not quite the first state to introduce sports betting, NJ has been able to claim a significant chunk of the betting action around the US.

    NJ Sports Betting and Gaming Revenue Grows

    New Jersey posted quite the uptick in its sports betting activities this March, notching up 34.5% better year-on-year results or $294 million. The solid increase in the activity is mostly owing to the fact that NJ introduced full-scale sports betting in May, 2018, after defeating a piece of arcane legislation designed to impede sports betting contests.

    New Jersey Chases Bigger Sports Handle in November

    Land-based casinos continued to fetch the majority of income, with the brick-and-mortar properties jumping another 15.7% this year or a total of $223.2 million. Meanwhile, other verticals, such as slots and table games also did well.

    March wasn’t all about sports betting and we saw iGaming results inch up. There was A 18.5% jump in terms of slots or $162.6 million total. Table games also went up 8.7% and reached $60.5 million.

    On its own, online gambling revenue went up the staggering 53% and netted $39.1 million, a rather impressive result altogether. Conversely, poker took a tumble in March, falling 1.6% and hit $5.6 million in total.

    The Properties That Posted Great Results in NJ

    Quite a few properties managed to post great results as a result of the overall upheaval in the market. The Golden Nugget generated 64.4% more revenue, or $14.2 million more. There was also Resorts Digital which posted over 100% in terms of improved results or $8.5 million total.

    Understandably, Borgata Hotel Casino & Spa managed to hit another $5.4 million which was a great uptick by 16.4% compared to the results in 2018. Meadowlands has managed to cash on its partnership with Paddy Power Betfair, FanDuel, well ahead of the competitors with a total of $17.6 million in revenue that month.

    DraftKings’ been trailing behind FanDuel. Resorts Digital, the official partner of the online betting platform, posted $7.2 million, which was still almost double than the February results.

    Meanwhile, New Jersey has had no trouble with notching up some pretty respectable overall profits in the first three months of 2019. Over January, February and March the state’s operators posted.

    Poker has been struggling to gain any traction, although New Jersey joined in a shared-liquidity scheme with other states in 2018. Nevada and Delaware are the other places where poker is presently legal.

    The iGaming and poker industries have been expanding. Pennsylvania is currently on hold, expecting to launch its activities in June and there are multiple other states working on passing iGaming bills.

    Sports betting continues to be the segment to win the most out of the current legal changes in the United States.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.