New Jersey sportsbooks amass nearly $120m in September revenue
Garden State operators benefit from the return of college football and NFL in big month despite 16% YOY drop in handle to $1.09bn
September marked a welcome month for New Jersey sportsbooks as operators amassed $119.6m in revenue according to new figures from the New Jersey Division of Gaming Enforcement (NJDGE).
The nearly $120m in gross gaming revenue (GGR) ranked second only to January 2024’s record haul of $170.8m and represented a 7.6% year-on-year (YOY) increase from $111.1m during the same period of 2023.
Handle, conversely, was down 16.1% YOY to $1.09bn, but overall wagering volume in the Garden State still managed to eclipse the $1bn threshold for the first time since April and for the 20th time in its history.
As a result, operators sent $15.1m back to the state in tax payments, pushing cumulative tax revenue past $100m for the year.
Despite the celebrated return of NFL and college football, bettors did not fare very well as statewide hold was 11% on all wagers – an increase of more than two percentage points from September 2023.
On the operator front, FanDuel racked up $48.8m in revenue – equating to just over 40% of the market – for its best overall month since January.
DraftKings was a step behind, totaling $36.6m in revenue as it crossed the $200m marker for the year.
BetMGM rounded out the podium in a distant third at $7.8m in GGR, with bet365 ($4.8m) and Caesars ($4.2m) not too far behind.
Through the first nine months of the year, New Jersey bettors have wagered a cumulative $9.2bn, with 96.2% of all handle coming online.