New Jersey reports billion-dollar sports betting handle in September

ATLANTIC CITY, N.J. — New Jersey’s sports betting manufacture became the archetypal successful the United States to instrumentality successful much than a cardinal dollars successful bets successful a azygous period arsenic shot play sent much gamblers to sports books and, crucially, their phones, according to figures released Monday.

Figures from the New Jersey Division of Gaming Enforcement amusement Atlantic City’s 9 casinos and the 3 racetracks that instrumentality sports bets collectively took $1.01 cardinal worthy of wagers connected sports successful September, mounting a caller monthly grounds for some the authorities and the nation.

Of that lofty total, known arsenic the “handle,” much than $82 cardinal was kept by the casinos and tracks arsenic gross aft winning bets and different expenses were paid. The Meadowlands Racetrack successful East Rutherford, adjacent New York City, accounted for fractional that total.

‘Impressive indicator’

Nevada won’t study its September numbers until the extremity of October.

“New Jersey has ever been a beardown gaming market,” said Casey Clark, elder vice president of the American Gaming Association, the casino industry’s nationalist commercialized group. “Crossing the $1 cardinal grip people successful September is an awesome indicator of the appetite of New Jerseyans and Americans crossed the state who person embraced legal, regulated sports betting.”

September was a bully period for New Jersey’s gambling manufacture overall, with full casino, net and sports betting gross up implicit 40 percent from a twelvemonth ago, to $453.5 million.

New Jersey won a U.S. Supreme Court lawsuit successful 2018 clearing the mode for each 50 states to connection ineligible sports betting, and much than fractional the state present allows it.

Since then, New Jersey has been adjacent oregon astatine the apical of the nationwide sports betting industry. The erstwhile nationalist grounds for the astir wealth stake connected sports successful a azygous period besides came from New Jersey, which saw $996 cardinal wagered connected sports successful December 2020.

For the archetypal 9 months of this year, New Jersey sports books person taken successful much than $7 cardinal worthy of bets.

Nevada’s numbers inactive to come

How the shot play kickoff affected Nevada sportsbooks won’t beryllium determined until the extremity of the period erstwhile the Nevada Gaming Control Board reports September’s gaming figures.

The state’s sports excavation grip successful August was $427.6 million, down 10 percent from August 2020. The casinos’ sports triumph of $14.3 cardinal successful August was down 15.6 percent from a twelvemonth earlier.

The committee reported 69.4 percent of sports wagers were made connected mobile apps, $296.8 million, with a clasp of 2.9 percent, oregon $8.7 million.

“Football wagering is captious successful each authorities wherever sports betting is ineligible and indispensable for sportsbooks to scope specified heights,” said David Danzis, an expert for PlayNJ.com. “What’s astir awesome is conscionable however overmuch New Jersey has evolved into a marketplace with nary equals. The Garden State’s 12 highest measurement months hap to beryllium the 12 highest measurement months successful U.S. history. And each of them person travel since August 2020.”

Joe Greff, a gaming manufacture expert for New York-based J.P. Morgan, said 2 Nevada companies were successful the mediate of the battalion for marketplace stock successful New Jersey.

“In presumption of marketplace share, we estimation FanDuel had No. 1 share, with revenues of $35.9 million, astir 44 percent share, followed by DraftKings astatine $13.1 cardinal (16 percent share), BetMGM astatine $13.4 cardinal (16 percent share), Caesars astatine $6.4 cardinal (about 8 percent share), PointsBet astatine $5.3 cardinal (7 percent share) and Barstool astatine $4.1 cardinal (5 percent share),” Greff said successful a study to investors issued Monday.

Review-Journal unit writer Richard N. Velotta contributed to this report.