For the second month in a row, the good news comes to us from the state of New Jersey and the sports betting market.
Namely, in this state, for the second month in a row, the record of income from sports betting was broken, as during the month the players invested as much as an incredible $1.29bn. This money was invested in both online betting and retail.
In November last year, the total market income was 52.2% less than this year and amounted to $288.9m, while this year the figure reached $439.6m. However, in October this year, the figure was 2.0% higher ($448.7m) than in November 2021.
Where Does Sports Betting Income Come From?
The income brought by sports betting this year is higher by 127.1% compared to the previous year and amounts to $114.8m. We can easily notice that this broke the record set in October this year, which was $84.2m.
In online sports betting, players bet as much as $1.14bn, while in retail the stake was $114.0m and thus reached the total figure of 1.29bn in stakes. This represents a growth of 38.5% on a year-on-year rise.
Compared to the handle record set in October, which was $1.30bn, this record is a shade lower.
Two Meadowlands partners, FanDuel and PointsBet, continue to be leaders in the sports betting market with a staggering $64.4m in income. They are followed by Resorts Digital and DraftKings with $ 22.4m, and third place goes to Borgata’s partner BetMGM.
Also, we can’t help but mention the online casino where the income was $118.0m. Last year, this revenue was 28.5% less than this year, which is good news. However, in October this year, the punters invested $127.0m, which is 7.1% more than in November of the same year.
Online slots brought in $115.8m in revenue, and at peer-to-peer poker, it contributed $2.2m in revenue.
The iGaming market was led by the Borgata, which generated $33.7m in revenue, followed by Golden Nugget Online Gaming ($ 31.8m), and third place went to Resorts Digital with $ 27.8m.
In land-based casinos, revenue reached $206.9m, which is 41.2% more than the previous year. However, in October this year, the revenue was $237.5m, which is 12.9% more than in November.
Table games grossed $ 52.2m in revenue, but slots grossed $ 154.7m in revenue.
To Sum it All Up!
From the beginning of this year to the end of November, the total annual revenue in New Jersey was $ 4.33bn! Unbelievable!
If we compare this year and the same period last year, we would see that this amount is 68.7% of last year’s figure.
Source:
’’NJ sets sports betting revenue record as handle hits $ 1.29bn in November’’, igbnorthamerica.com, 17 December 2021.
The post November, New Jersey: Players Invested As Much As $1.29bn in Sports Betting! first appeared on RealMoneyAction.com.