• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

New Jersey Sports Betting Handle Skyrockets To $330M In November

Brett Smiley by Brett Smiley
December 12, 2018
in Industry
draftkings fanduel logos
Share on FacebookShare on Twitter

The growing New Jersey sports betting market reached a new betting handle high in November — surging to $330.7 million, up from the previous high of $260.7 million in October, the New Jersey Division of Gaming Enforcement reported on Wednesday.

Online/mobile sports betting is driving the growth as November’s online handle reached $238.6 million, an increase of $64.2 million from October’s $174.4 million. But the sports bettors had their say in November, limiting revenue to $21.2 million on a 6.4 percent hold. New Jersey sportsbooks saw their best revenue month in September when they collected $24 million on a $184 million handle, for a hold of 13 percent.

Who’s leading the pack? Once again, it’s the DraftKings Sportsbook and FanDuel Sportsbook.

Dominance of DFS-operators-turned-sportsbooks

DraftKings’ revenue is coming foremost via its online sportsbook, as its first physical sportsbook in New Jersey just opened on Nov. 20 at the Resorts Casino in Atlantic City, supplanting the small SB Tech-run Resorts-branded sportsbook that opened in August.

Here’s the revenue breakdown for the $238.6 million wagered online at New Jersey sportsbooks (property/licensee listed then the operator):

  • Bally’s (Caesars and 888): $205,046
  • Borgata (playMGM): $194,212
  • Meadowlands Racetrack (FanDuel Sportsbook): $4,437,916
  • Monmouth Park (William Hill and Play SugarHouse): $1,521,295
  • Ocean Resort (William Hill): $915,930
  • Resorts Digital (DraftKings Sportsbook and BetStars NJ): $7,172,171

Per Jamie Shea, Β DraftKings’ Senior Director of Digital Sportsbook, DK still accounts for over 95 percent of the revenue share of Resorts Digital, which spells roughly $6.8 million of the November haul (assuming the same hold percentage).

β€œDraftKings continues to set the pace in New Jersey sports betting,” Shea said. β€œSince August, DraftKings has taken more than 8 million bets and paid out $250 million to sports fans. Our new retail sportsbook at Resorts had a strong first month, capped with an exciting consumer event this past weekend. No one understands the American sports fan like DraftKings.”

Why the focus above on mobile/online? Well, the lion’s share of the betting handle and revenue is coming via mobile/online betting. Of the $330.7 million handle, $238.6 million comes via online accounts (72 percent of all wagers), up from 69 percent in October.Β Overall, $14.4 million in online revenue of a total $21.2 million comes out to 68 percent, so at least in theory online bettors are slightly better gamblers than their land-based counterparts.Β 

Many including Sports Handle have predicted that the New Jersey market’s total handle will eventually surpass that of Nevada — with a population of only about one-third of New Jersey’s.

But it’s not there yet: in October, the most recent month for which we have data, Nevada sportsbooks reported $528 million in handle and $29.5 million revenue. Obviously the arrow is pointing upwards for New Jersey, but there’s still a lot of ground to make up.

What they’re betting

Football isn’t parsed between NFL and NCAA college football, but combined football betting easily eclipses the other sports, as well as total parlay wagers for which the hold is routinely higher.

For basketball the report likewise doesn’t indicate NBA versus NCAA college basketball betting. As the NBA continues to strike deals with sportsbook operators and third-parties disseminating its data, and generally embrace sports wagering with new quarter-by-quarter NBA League Pass access, catering to bettors and DFS players, it will be interesting to see if NBA handle continues to rise. In the future we’ll be able to compare to Nevada.

Those baseball numbers reflect the settling of futures bets and also new futures/props. New Jersey uses an accrual method of accounting that counts revenue at the time that wagers are placed, with losses indicated in subsequent reports.

What’s β€œother”? Anything and everything not otherwise itemized. That’s boxing, mixed-martial arts, soccer, cricket and.. darts!

New Jersey sportsbooks took a wager in December that would mark the one-billionth dollar wagered — with November YTD handle indicating $928,116,793. Β 

Share7TweetShare
Brett Smiley

Brett Smiley

Brett Smiley is editor-in-chief and co-founder of Sports Handle, which joined forces with the US Bets team in November 2018. He focuses on the sports betting industry and legislation. He's a recreational sports bettor and DFS player himself, focusing on the NFL. In a past life, Smiley practiced commercial litigation in New York City and previously wrote for FOX Sports and SI.com. He lives in New Jersey with his family.

Related Posts

atlantic-city-boardwalk
Legislation

New Jersey Lawmakers Latest To Condemn Amount Of Wagering Advertising

March 20, 2023
whats on tap
Industry

What’s On Tap: Elite Eight, WBC Finals, And Texas Sports Betting Hearing

March 20, 2023
Load More

Top Stories

taylor mathis

Taylor Mathis Got Sacrificed At The Altar Of Responsible Gambling

March 20, 2023
fanduel baseball wall

Premade Same Game Parlays Are Sucker Bets

March 13, 2023
maginfier-over-small-print

Read The Fine Print: A Proposed Federal Rule Could Change Everything For Indian Gaming

March 6, 2023
roman reigns wwe

Colorado Denies Report Stating That It’s Considering WWE Wagering

March 8, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
March 22, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

SportsHandle

  • Analysis
  • Casino
  • Features
  • Horse Racing
  • Industry
  • Legal
  • Legislation
  • Opinion
  • Podcasts
  • Poker
  • Politics
  • Promotions
  • Regulation
  • Sports
  • Uncategorized

Better Collective

This website is owned and operated by Better Collective USA. Trademarks and copyrights referenced on this website are and shall remain the exclusive property of their respective owners and/or licensors. Please be sure to visit the operator’s website(s) to review their terms & conditions. We advise you to read these carefully as they contain important information. Copyright Β© 2023 USBets.com | Better Collective USA
21 Play Responsibly
Gamble Aware West Virginia
Gambling Problem? Call 1-800-Gambler.
GameSense

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...