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New Jersey sportsbooks surge with another historic month

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New Jersey Division of Gaming Enforcement Announces October 2024 Total Gaming Revenue Results

 

New Jersey’s sportsbooks capitalized on an unprecedented confluence of major U.S. sports to set yet another all-jurisdiction record with nearly $750 million in September. And with the record, the Garden State’s handle year-to-date has surpassed the first nine months of 2019, a remarkable trajectory considering major sports were shut down for months, according to PlayNJ.

“September was a once-in-a-lifetime moment on the sports calendar when all four major U.S. sports were playing meaningful games all at once, which was obviously a boon for sportsbooks,” said Dustin Gouker, lead analyst at PlayNJ.com. “The growth seen over the last two months will likely level off once the sports schedule returns to normal. But it’s clear New Jersey’s sports betting industry is setting a new floor.”

Wagers at New Jersey’s online and retail sportsbooks soared to $748.6 million in September, up 68% from $445.6 million in September 2019 and easily surpassing the all-jurisdiction record of $668 million set by New Jersey just last month. New Jersey sportsbooks have now collected $3.3 billion in bets through the first nine months of 2020, up from $2.96 billion through the corresponding months in 2019.

The state’s sportsbooks have now collected $9.1 billion in wagers since the industry launched in June 2018, surpassing yet another milestone.

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September’s bets produced $45.1 million in gross operator revenue, up 14.1% from $37.9 million in September 2019. Those revenues yielded $5.6 million in state taxes.

In August, New Jersey generated nearly $200 million more than Nevada’s $474.9 million handle, and appears poised to outpace the nation’s No. 2 market significantly yet again. New Jersey’s sportsbooks took in a whopping $159.5 million in football bets in September. But bettors also placed another $208.3 million on “other” sports, a classification that includes hockey, $115.3 million on baseball, and $98.8 million on basketball.

“Bringing all the major sports together at once enabled New Jersey to show off its unique ability to attract significant action on a wide variety of sports,” Gouker said. “New Jersey is less event-driven and football commands a smaller share of the overall handle than Nevada, which is an obvious benefit under the current circumstances.”

Online bets accounted for 90.7%, or $678.7 million, of September’s handle. That was up from 90.1% in August and 84% in September 2019. FanDuel Sportsbook/PointsBet topped the market with $25.1 million in gross revenue, up from $17.6 million in August. FanDuel was followed in revenue by:

  • Resorts Digital/DraftKings/Fox Bet ($4.8 million, down from $10 million in August)
  • BetMGM/Borgata ($3.7 million, up from $3.3 million)
  • Ocean Casino/William Hill ($2.3 million, up from $1.2 million)
  • Monmouth/William Hill/Sugarhouse/TheScore ($2.3 million, up from $1.7 million)
  • Hard Rock/Bet365/Unibet ($947,986, up from $530,136)
  • Golden Nugget/BetAmerica ($168,391, up from $41,851)
  • Tropicana/William Hill ($109,185, up from $51,948)
  • Caesars Sportsbook/888sport ($244,974, up from -$41,648)

Struggling retail sportsbooks showed modest improvement, generating $69.8 million in bets, up from $66 million in August. FanDuel Sportsbook at The Meadowlands once again topped retail books with $3.1 million in revenue.

“September’s results hint at a $1 billion month someday soon, which would’ve been impossible to fathom two years ago,” said Eric Ramsey, analyst for PlayNJ.com. “As we can see with Unibet’s recent launch, online sportsbooks will continue to be where we see growth and where operators will continue to invest.”

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Online gambling eyes $950 million for 2020

New Jersey online casinos and poker rooms continued their place as the industry’s most consistent performer in September with a near-record $87.6 million in revenue, up 113% from $41.1 million in September 2020. September’s revenue injected $13.2 million into state coffers, giving New Jersey $103 million in taxes from online casinos and poker so far this year.

Now the industry has a bigger number in sight — $950 million in annual revenue.

Through the first three quarters of 2020, online gambling has generated $685.6 million, up 102.2% from $339 million through the first nine months of 2019. The industry would have to average $88.1 million per month, only a slight uptick, over the final three months of 2020 to reach $950 million for the year.

“Nearly $1 billion in revenue is a staggering figure to think about, and every dollar has been vital in keeping New Jersey’s gaming industry afloat during a difficult year,” Ramsey said. “The growth in online revenue has begun to flatten after a spring surge, but the importance of online gambling to the overall health of the industry continues to grow.”

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Some other highlights from September’s report:

  • Online casinos and poker generated $2.9 million a day over the 30 days of September, breaking the record $2.83 million a day produced in August.
  • Revenue from online casinos alone was $85.1 million, up from $84.7 million in August.
  • Online casino games have now generated $2.01 million in revenue since launching in November 2013.
  • Online poker produced $2.6 million in September revenue, down from $3 million in August.
  • The Golden Nugget’s market dominance continued with $26 million in September, down from $27.7 million. Borgata was second with $19.8 million.

For more information and analysis on regulated sports betting and online gaming in New Jersey, visit PlayNJ.com/news.

 

About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches produce original daily reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

Latest News

Aposta Ganha launches Black Friday promotion with new ambassador Luva de Pedreiro

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Aposta Ganha launches Black Friday promotion with new ambassador Luva de Pedreiro

 

Aposta Ganha, the fastest growing Brazilian sports betting and casino site in Brazil, has launched its Black Friday promotion with its newest ambassador Luva de Pedreiro, AKA Bricklayer’s Glove.

With over 21 million followers on Instagram, the digital influencer and social media phenomenon will strengthen the brand’s presence in the market and shake up Black Friday with a campaign full of special offers for bettors.

Known for his catchphrase “Receeeeba!” and his irreverent personality, Luva de Pedreiro will be the main face of the campaign, creating a direct connection with the public, football fans and social media enthusiasts. The partnership aims to increase Aposta Ganha’s visibility in the market, attract new bettors and offer an even more dynamic experience.

Aposta Ganha is taking advantage of Black Friday to reinforce its commitment to ethical and transparent operations in the market. The platform complies with the new regulations of the Federal Government and invests in education and awareness initiatives, ensuring a safe experience for its users.

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Vitor Paulin, Chief Marketing and Growth Officer at Aposta Ganha, said: “Signing an ambassador like Luva de Pedreiro is a huge milestone for Aposta Ganha. His authenticity and connection with the public make him the ideal partner to boost our brand and make the betting experience even more exciting.”

Aposta Ganha’s Black Friday brings unmissable offers for all types of bettors. One highlight is that bettors will receive 10% cashback on the amount lost in the Aviatrix game and daily offers for sports betting. The promotions will be valid from November 21 to 30, with exclusive advantages in selected games each day.

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Latest News

MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS

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MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS

 

Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs.  This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.

Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.

The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.

“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”

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“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.

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Financial reports

Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth

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Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth

 

U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.

Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.

In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.

Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.

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Looking at each sector in Q3 2024:

  • Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
  • Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
  • iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.

“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”

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