New Jersey is the first state to pass $ 1 billion in sports betting in a month.

Image source: Shutterstock

New jersey By receiving a $ 1.01 billion stake in September, it became the first state in the United States to generate over $ 1 billion in sports betting in a month.

The sports betting milestone has arrived as New Jersey also set new highs on online casino revenue and helped push the state to the game’s total revenue record ($ 453.6). According to PlayNJ, Track game development in the state.

That total of $ 1.01 billion broke the $ 996.3 million state and US record set by New Jersey in December 2020. Volume in September increased 35.1% from $ 748.6 million generated in September 2020 and increased 52.1% from $ 664.7 million in August.

Eric Ramsey, Analyst networkIncludes .. The constant growth of online sports betting and casino games continues to lift the industry as a whole. “

Total game revenue in September also missed a record high. Operator revenue increased 82.9% in September from $ 45.1 million in September 2020 to $ 82.4 million, an increase of 58.5% from $ 52 million in August. September revenues were just below January’s record high of $ 82.6 million. Sports betting generated $ 12.1 million in state and local taxes in September.

It’s been a while since New Jersey crossed the $ 1 billion threshold. Combined with sportsbooks, you’ll bet at least $ 930 million in November, December, and January. Football was the key, college football played on a full schedule, and the NFL returned in September, generating $ 408 million in stakes on the completed event. The sum is smaller than what the $ 185.2 million baseball attracted.

“Soccer betting is essential in all states where sports betting is legal and sports books need to reach such heights,” he said. David Danges, An analyst at “The most striking thing is how New Jersey has evolved into a unique market. The 12 most voluminous months in Garden State happen to be the 12 most voluminous months in US history. It’s the moon, and they’re all coming since August 2020. “

Betters bet $ 918.4 million through online sportsbooks in September, equivalent to 90.8% of state-wide handles. This is the second highest number in history.

Meadowlands / FanDuel / PointsBet / SuperBook once again led the online market with total revenue of $ 36.6 million, starting at $ 23.6 million in August.

Retail sportsbooks raised a record $ 92.7 million in September from a stake of $ 51.8 million in August. Meadowlands / FanDuel regained control of the retail market with $ 4.7 million in revenue.

The New Jersey sportsbook has already broken the annual revenue and betting record, generating $ 558 million in revenue with a $ 7.1 billion bet in the first nine months of 2021. Season debut with a tap in October. And a strong finish by 2021 could exceed $ 10 billion in annual stakes.

“As September was impressive, the sports betting market in New Jersey hasn’t reached that limit yet,” Ramsey said. “The NBA and college basketball season could send bets to another stratosphere in the coming months.”

Online casinos and poker rooms generated record $ 122.6 million in total game revenue in September. Revenues in September increased by 39.9% from $ 87.6 million in September 2020, but did not reach the record $ 118.7 million set in July.

Annual online casino and poker room revenues were $ 988.7 million, surpassing the record high of $ 970.4 million in annual revenues set for 2020 as a whole. The constant growth of the online market continues to benefit the whole. State gaming industry.

State-wide retail casino revenue of $ 248.5 million, combined with September online and retail sportsbook revenue, brought the New Jersey gaming industry to $ 453.6 million this month. This broke the state record for total game revenue of $ 450.6 million set in July.

“During the pandemic, the acceptance of online casino gambling accelerated, leaving the industry with the most consistent revenue drivers,” said Danges. “Once there was fear that online games could undermine Atlantic City’s appeal, but as retail games gradually return to health, the industry is driven by diverse sources of revenue from online and retail casinos and sportsbooks. Shows that is becoming more powerful. “

New Jersey is the first state to pass $ 1 billion in sports betting in a month.

Source link New Jersey is the first state to pass $ 1 billion in sports betting in a month.

Show More

Related Articles

Back to top button