Over $260m wagered on sports in New Jersey in October

New Jersey sportsbooks handled $260.7m in sports wagers in October, a significant increase over the September figures.

Although more wagers were placed the amount that sportsbooks in the state held on to was significantly lower than the previous month.

Sportsbook revenue dropped to just $11.7m a significant drop compared to the $24m in revenue reported in September.

Sportsbooks in the state contributed a total of $1.4m in tax revenue bringing the total amount of tax revenue contributed by sportsbooks to just over $4m.

The sportsbook operations at Resorts Atlantic City were the highest in the state, however, since DraftKings shares the network with BetStars NJ it is not possible to distinguish each of the operator’s figures.

Under the name Resorts Digital, both of the sportsbook operations at Resorts reported a combined total of $5.1m with digital operations generating $5m of revenue.

FanDuel Sportsbook reported revenues of $3.5m with its online platform accounting for $2.4m of its total revenue.

The figures show that online sportsbook platforms are the dominant force in the New Jersey sports betting market with online platforms making up $8.8m in revenue.

In terms of land-based sportsbooks, the FanDuel Sportsbook at Meadowlands was the highest performing, reporting $1.1m in revenue.

The William Hill sportsbook at Monmouth Park reported $606,981 in revenue making this the second highest performing land-based sportsbook in October.

One of the newest entries into the New Jersey sports betting market is the Tropicana, which opened its doors towards the end of the month putting it at somewhat of a disadvantage, only generating $15,314 in revenue.

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