New Jersey Breaks Sports Betting Record
The state of New Jersey’s sports betting handle achieved record results in September 2021, with sports bettors wagering more than $1 billion in bets. The US state also saw its total gambling revenue skyrocket for the month, jumping up 40.3% year-on-year. Overall gambling revenue for the month totaled $453.6 million.
New Jersey’s sports betting handle saw record results in September 2021, with sports bettors wagering more than $1 billion in bets. ©pierre9x6/Pixabay
Sports Betting Market Experienced Biggest Year-on-Year Growth
The New Jersey Division of Gaming Enforcement has revealed that its sports betting handle broke records in September 2021, after sports bettors wagered more than $1 billion in bets during the month. The US state also experienced skyrocketing total gambling revenue for the month, increasing by 40.3% when compared to the same period last year.
The state saw a total gambling revenue of $453.6 million in September, which was up $323.3 million compared to September 2020 and 6.1% higher than the $427.7 million total in August of this year.
As was perhaps to be expected, New Jersey’s sports betting market was the vertical which experienced the most significant year-on-year growth this past September. Revenue in this sector shot up by 82.9% to $82.4 million.
Consumers in New Jersey put down wagers totaling a whopping $1.01 billion on various sporting events in September, marking a new all-time monthly high for the state. This surpassed the previously set record of $966.3 million set in December 2020. Online sportsbooks saw a total of $918.4 million, with the remaining $92.7 million being wagered at physical retail sites around the state.
Sportsbook operators FanDuel and PointsBet at Meadowlands continued to be leaders in the sports betting vertical, reporting revenues of $41.3 million. Borgata and BetMGM came in second here, with $13.4 million in revenue, followed closely by Resorts Digital and DraftKings with $13.2 million.
Online Casino Also Grew Healthily in September 2021
While sports betting certainly saw the most significant growth in New Jersey this past September 2021, online casino also performed particularly well, with total revenue leveling out at $122.6 million.
This total overtook the previously monthly record, which was $118.7 million and was set in July 2021. September 2021’s results for online casino were also 39.9% higher than the $87.6 million generated in September 2020.
For its part, online slots revenue also improved during the same period, coming out at 41.2% higher with a total of $120.1 million. However, internet peer-to-peer poker revenue suffered slightly during September, sinking by 2.4% to $2.5 million for the month.
Claiming the top spot in the online casino vertical was The Borgata, reporting $38.2 million in revenue. It’s followed closely by Golden Nugget Online Gaming (GNOG) with $31.1 million, and finally Resorts Digital with $28.4 million in total reported revenue.
The tried and tested method of physical land-based casino still proves to be popular in New Jersey, also growing during September 2021, though not as much as sports betting or online casino. Total revenue in this sector was up by 30.4% year-on-year, leveling out at $248.5 million, with slots revenue generating $182 million, while table games $66.5 million.
As it currently stands, New Jersey’s overall gambling revenue over the past nine months leading up to the end of September 2021 is $3.44 billion. This year looks to be another record breaker, as this total is already up 77.4% from $1.94 billion at the same point last year.
Breaking this down by vertical: sports betting revenue is thus far 150% higher than during the same period last year, totaling $557.8 million; online casino is up 44.2% at $998.7 million; land-based casino revenue 83.8% higher at a total of $1.90 billion.
New Jersey Also Saw Record Betting Revenue in June 2021
It’s been a strong year for New Jersey’s gambling market, with the state also experiencing record-breaking revenue results back in June 2021, which saw a total of $392.8 million generated, representing a 302.7% year-on-year increase.
Curiously enough — land-based casinos were the biggest contributors this time around, though this was likely due to the fact that all New Jersey casinos were finally permitted to open for the first time this year following widespread closures in 2020 due to the outbreak of the novel coronavirus (Covid-19) pandemic.
State casinos therefore generated $214.5 million in revenue, with $154.1 million arriving courtesy of slot machines, while $60.4 million was brought in by classic casino table games. Online casino also increased in June, up to a total of $107.1 million, which represents a 26.1% increase from 2020.
US Gambling Revenue Reached Record High in Q2 2021
Back in August 2021, the American Gaming Association (AGA) revealed some momentous news for the US gambling market: it had experienced all-time record-breaking revenue results during Q2 2021.
Revenue generated during the period reached a record high of $13.64 billion (£9.8bn/€11.6bn), which broke Q3 2019’s previous record, which was set at $11.1 billion. Results from Q1 2021 merely ended up matching this previous record.
The overwhelming majority of this revenue, $8.7 billion to be exact, came in from slots. Table games generated $2.14 billion, while online gambling and sports betting produced totals of $901.2 million and $888.9 billion respectively.
Bill Miller, president and CEO of the AGA, attributed such strong revenue performance to the association’s efforts to ensure a safer gambling environment for American players:
“These first half results are truly remarkable. It is even more impressive when you consider commercial gaming revenue was at its lowest point ever just a year ago. This is a testament to our resilience and commitment to providing customers safe environments and world-class entertainment experiences.”– Bill Miller, President and CEO, American Gaming Association (AGA)
