New Jersey is showing the rest of the US what legalized sports betting really means. Since it first began on June 14 this year, sports wagering has generated $40.4 million for New Jersey gaming companies and revenue growth is accelerating.
October 12 saw the release of New Jersey’s latest (and highly anticipated) gaming revenue figures for September. New Jersey Division of Gaming Enforcement (DGE) Director David Rebuck commented:
“Driven by the explosive growth in sports wagering and continuing improvements in Internet gaming and brick-and-mortar casino win results, the gaming industry produced another month of superb revenue increases. The revenue results point to a strong finish for New Jersey’s gaming industry in 2018.”
September’s numbers are particularly important because they are the first full month of figures for most of the online sportsbooks in the market. All in all, New Jersey earned $24 million in total revenue from legalized sports betting after taking in $184 million in wagers.
DraftKings keeps first mover advantage
DraftKings was the first online sportsbook to launch in New Jersey. It had the market to itself for almost three weeks, and its market-leading position has continued.
The Resorts Casino reports its internet sports betting numbers for both BetStars, which launched mid-month on September 13, and DraftKings. Most of its $8.5 million in September revenues can still be assumed to be for DraftKings.
The pace of growth is phenomenal. In August, DraftKings made $2.97 million in revenues, so month-on-month it has seen an increase of 186 percent. For New Jersey as a whole, sports betting brought in $24 million, giving DraftKings around a third of the market.
September figures for DraftKings online competitors were:
PlaySugarHouse — $619,030, a sixfold increase on its August revenues of just under $50,000
William Hill — $292,081, plus another $70,785 from its operations in partnership with Monmouth Park
playMGM — $120,938
CaesarsCasino and 888sport — $106,463
https://www.google.com/amp/s/www.playusa.com/new-jersey-gaming-numbers-september/amp/
October 12 saw the release of New Jersey’s latest (and highly anticipated) gaming revenue figures for September. New Jersey Division of Gaming Enforcement (DGE) Director David Rebuck commented:
“Driven by the explosive growth in sports wagering and continuing improvements in Internet gaming and brick-and-mortar casino win results, the gaming industry produced another month of superb revenue increases. The revenue results point to a strong finish for New Jersey’s gaming industry in 2018.”
September’s numbers are particularly important because they are the first full month of figures for most of the online sportsbooks in the market. All in all, New Jersey earned $24 million in total revenue from legalized sports betting after taking in $184 million in wagers.
DraftKings keeps first mover advantage
DraftKings was the first online sportsbook to launch in New Jersey. It had the market to itself for almost three weeks, and its market-leading position has continued.
The Resorts Casino reports its internet sports betting numbers for both BetStars, which launched mid-month on September 13, and DraftKings. Most of its $8.5 million in September revenues can still be assumed to be for DraftKings.
The pace of growth is phenomenal. In August, DraftKings made $2.97 million in revenues, so month-on-month it has seen an increase of 186 percent. For New Jersey as a whole, sports betting brought in $24 million, giving DraftKings around a third of the market.
September figures for DraftKings online competitors were:
PlaySugarHouse — $619,030, a sixfold increase on its August revenues of just under $50,000
William Hill — $292,081, plus another $70,785 from its operations in partnership with Monmouth Park
playMGM — $120,938
CaesarsCasino and 888sport — $106,463
https://www.google.com/amp/s/www.playusa.com/new-jersey-gaming-numbers-september/amp/