After coming close to the $1 billion mark in two previous months, New Jersey sportsbooks topped that historic milestone in September. The $1.01 billion betting handle is the biggest month ever in the legal US sports betting industry.
The betting handle relates to total sports betting volume. New Jersey posted a handle of $996 million in December of 2020 to set the previous record. The Garden State came close to breaking that record this past January.
The start of the new football season pushed the betting volume past $1 billion in September with the in-state sportsbooks earning $82.4 million in revenue.
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The New Jersey Division of Gaming Enforcement released September’s gaming figures on Oct. 18. The results were impressive all around. Legal sports betting in the state consists of retail sportsbooks at nine Atlantic City casinos and three New Jersey racetracks.
The biggest piece of the action belongs to all the in-state online operators offering a mobile sportsbook app. More than 90% of New Jersey’s monthly betting handle is booked through mobile apps.
Industry figures put an exclamation point on mobile betting in New Jersey with a handle of $918.4 million of the $1.01 billion total in September.
Even as the country’s biggest legal sports betting market, New Jersey sportsbooks suffered through a slower than expected summer season. That quickly came to an end in September with a 50.6% increase over the previous month.
The increase in revenue between August and September was dramatic as well. The books made $30 million more in September with football on the betting board.
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New Jersey’s Biggest Sportsbooks
Meadowlands Racetrack remains the biggest betting venue in the state with $41.2 million in September revenue. This includes the retail sportsbook and its online betting operation. The track’s online operating partner is FanDuel.
Borgata Hotel, Casino & Spa is the No. 1 casino in Atlantic City in terms of gaming revenue. That casino took in $13.4 million in sportsbook revenue in September. As part of MGM Resorts, Borgata’s online partner is BetMGM. The casino also runs its own online platform under the Borgata brand.
Resorts Casino took in $483,800 in sports betting revenue last month through its retail sportsbook. Resorts Digital posted $13.2 million in revenue from its online betting handle.
September was a strong month for the entire gaming industry in the Garden State. Revenue from casino gambling and sports betting added up to be $453.6 million. This number reflects a 40% increase against last September’s revenue of $323.3 million.
The Future of Legal Sports Betting in New Jersey
Now that New Jersey has posted the biggest monthly sports betting handle ever in the legal US market, where does it go from here? That could depend on how quickly New York sportsbooks can get up and running online.
Right now, legal sports betting in New York is limited to retail sportsbooks located in various upstate land-based casinos.
Efforts are underway to open up the market to online sportsbook operators. This would have a dramatic impact on New Jersey’s sports betting volume and revenue, especially in the northern part of the state.
