New Jersey Reports Record October Gambling Revenues

New Jersey enjoyed a successful October with gambling revenue increasing 15% year on year, resulting in a new record for the state.

October’s overall gambling revenue for New Jersey was an impressive $338.1 million, compared to $293.9 million in October 2019. It was also a healthy 4.6% higher than the $313.3 million in revenue from September this year.

The New Jersey Division of Gaming Enforcement (NJDGE) has released data that shows the state broke numerous records in the sports betting market, including revenue, which grew to a new high of $58.5 million in October, a significant increase of 26.1% from last year, and also higher than the record set in January of this year.

The sports betting handle also grew to a record of $803.1 million, far higher than the last record, which was set in September this year. It was also the first time that the handle was over $800 million in a single month. The vast majority of the money, $743.9 million, was bet online, and the remaining $59.2 million was bet at physical sportsbooks.

The market top spot was kept by Meadowlands and its sub-licensees PointsBet and FanDuel. They saw revenue of $29.8 million, a 20.2% increase on last year. They were followed by Resorts Digital and it partner DraftKings, who were significantly behind with $14.6 million revenue. However, this was a bigger year-on-year increase of 37.7%. However, Borgata and BetMGM saw the biggest year-on-year increase. Their revenues were $4.3 million, up 138.9% on last year.

There were also significant increases in iGaming revenues. Total revenue grew to £$93.5 million, the first time that the figure grew beyond $90 million. It represents an increase of 106.7% year-on-year. The biggest income came from online slots and table games, with revenue up by 108.7% to $90.9 million while peer-to-peer poker revenue increases by 53.5% to $2.5 million.

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