New Jersey sports betting revenue continues to rise in August

New Jersey’s sports betting revenue continued to rise in August despite a slow month for sports.

According to figures from the New Jersey Division of Gaming Enforcement (NJDGE) sportsbooks in the Garden State took a total of $293.6m in sports bets in August, up from $251.3m in July.

In terms of revenue, sportsbooks posted a combined revenue of $25.2m, a massive increase on the $17.9m generated in July.  This marks a significant increase when compared to August 2018 when sports betting revenue sat at $9.2m.

FanDuel continues to lead the market

Looking closer at the figures, FanDuel and Meadowlands Racetrack continue to dominate the New Jersey sports betting market.

In August, FanDuel and Meadowlands managed to generate $11.9m in sports betting revenue.

DraftKings Sportsbook, which operates under the Resorts Digital license, came in second place last month after generating just $6.7m in sports betting revenue.

William Hill and Monmouth Park came in third place in August with sports betting operations generating just $2.1m in revenue.

Between August 2018 and August 2019, bettors have wagered more than $2.53bn on sporting events, while sportsbooks in the state have generated a combined total of $152.7m in revenue.

Mobile is king in New Jersey

Online and mobile platforms are officially the most popular way to bet in New Jersey.

In New Jersey, just under 85% of all sports wagers are placed online via a sports betting site or mobile betting app.

Of the state’s total betting handle in August, $249.2m was wagered with online sportsbooks. The remaining $44.4m was wagered at land-based sportsbooks in the state.

At the moment, there are more than 15 online sports betting options in the Garden State, all of which allow bettors to place sports wagers from anywhere within state lines.

With football season in full swing, we are likely to see the full potential of mobile and online sports betting.

For an in-depth look at each state’s sports betting statistics visit the BettingUS stats page.

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