Sports Betting Overtakes Online Gambling in New Jersey

Sports Betting Overtakes Online Gambling in New JerseyNew Jersey has always been at the forefront of the sports betting industry in the United States.  Thus, the month of October is showing it again as to why they are the leaders for U.S. Sports wagering.  This is because Sports Betting Overtakes Online Gambling in New Jersey for the month of October.

Overall, Bookie Pay Per Head experts all agree that this is an amazing feat in the gambling industry.  This is because online gambling is made up of online casino and poker which are all hot gambling products. According to the New Jersey Division of Gaming Enforcement, online and land-based sportsbooks made a killing in October.

Furthermore, we are talking almost four times the revenue over the previous year.  Thus, the latest report says that sportsbooks made almost $46.4 million in revenue.  In terms of comparison, this is about almost $8 million more than the previous month.

Sports Betting Overtakes Online Gambling in NJ – The Breakdown

The sports betting handle for the month of October was a whopping $488 million.  Furthermore, 85.4% of it came from online and mobile gambling. In addition, the sports betting revenue for October were $1.2 million higher than the total online and poker revenue. However, keep in mind that these sports betting numbers also include revenue from betting shops and racetracks.

Meadowland racetrack with their FanDuel partner broke another record with $24.8 million in sports wagering revenues. In addition, Meadowland racetrack makes up 53.4% of the sports betting market share in New Jersey.

On the other hand, Resorts Digital Gaming which is includes DraftKings and FoxBet came in second place with $10.56 million. For them, this is a 107.4% higher than the previous year.  However, it is lower than the previous month where they made $10.7 million.

In third place is Monmouth Park racetrack with $2.8 million in revenue.  Furthermore, $1.66 million of that total came from online gambling. In fourth place is Ocean Resort Casino with $2.23 million and in fifth place is the Hard Rock Atlantic City with $1.96 million.

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