Sports betting revenue continues to rise in New Jersey

Sports betting revenue in New Jersey was up 174 per cent year-on-year in August, while the US state has also seen revenue increase within its online gambling and land-based casino markets.

Revenue from regulated sports wagering in New Jersey amounted to $25.2m last month, an increase from $9.2m in August 2018 and also, an improvement on $17.9m in July of this year.

Sports betting handle for the month stood at $293.6m, with $249.2m being generated through online sportsbooks. The remaining $44.4m came courtesy of land-based operations in the state.

Meadowlands Racetrack and Flutter Entertainment’s FanDuel remain some way out in front within the New Jersey market, where revenue has been posted of $11.9m for August.

Resorts Digital and partner DraftKings followed in a distant second with $6.7m in sports betting revenue, with Monmouth Park and William Hill sitting in their place on $2.1m.

For the year-to-date to the end of August, the New Jersey sports betting market generated a total of $152.7m in revenue, with punters having placed $2.53bn in wagers the process.

Meanwhile, in New Jersey, a further growth has been seen within its iGaming market, with revenue increasing 65.7 per cent from $24.8m in August 2018 to $41.1m this year. This was also up on the $39.3m posted in July.

Online casinos games were again the primary source of income for operators in the state, with revenue from such activity amounting to $39.4m. In contrast, poker revue in August has come to a total of $1.7m, which shows a slight decrease on last year.

Golden Nugget remains as the market-leader in New Jersey, with an iGaming revenue of $15.0m being totalled for the month, this is ranked ahead of Resorts Digital on $7.4m and Borgata with $7.1m.

Elsewhere, land-based casino revenue has increased 6.1 per cent year-on-year from $269.9m to $286.5m, however this has decreased from $277.2m that was posted in July.

The Borgata remains by far the most successful land-based venue in the state, with revenue reaching heights of $71.9m. This is followed by the Hard Rock, with $31.7m and then Harrah’s on $31.1m.

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