New Jersey Sports Betting in Numbers

The New Jersey online sports betting market is booming. Atlantic City Casinos were not late to act after Governor Phil Murphy signed the A 4111 on June 11, 2018, and on June 14 the first legal sports betting wager was taken as the Monmouth Park Racetrack. Borgata Casino was out second just a few days after and for online betting it was DraftKings launched first on July 18.

The tax rate for sports betting in New Jersey is reasonable with 8.5% revenue tax for land-based, 13% for casino-based and 14.25% for racetrack-based.

Sports betting handle, revenue, and hold

Each month the New Jersey Division of Gaming Enforcement (NJDGE) releases detailed stats from the previous month on the handle, revenue and hold for the state and individual casinos.

TermDefinition
HandleTotal amount wagered
RevenueThe money that is left after winnings have been paid on the handle.
HoldThe margin (percentage gain) that the casino keeps/makes from the wager.

New Jersey Online Sports Betting November 2019

November was not a great month for the NJ sportsbooks. Revenue numbers dropped around 28% compared to October and surpassing the $40 million mark (as we predicted) was not close at all. Let’s take a look at this months winner and losers.

DraftKings, William Hill and The Score are this months biggest growers. DrafKings increase in market share is a strong sign but they are now in the level where they belong and probably expect. William Hill and The Score are doing great, they are moving from very small to potential challengers to FanDuel and DraftKings.

Bet365 and Unibet were expected to come in on a much higher level but have been underperforming in November. FanDuel has lost market share but is still the dominant player in New Jersey (and the rest of US).

Market Share

SportsbookNovemberOctoberChange in market share
Resorts, DraftKings & BetStars32,85%27,28%5,57%
Borgata & BetMGM4,83%3,59%1,24%
Bally’s, 888sport & Caesars1,64%0,01%1,63%
Meadowlands, FanDuel & PointsBet43,88%53,43%-9,55%
Monmouth, William Hill NJ, SugarHouse, The Score6,70%4,31%2,39%
Golden Nugget & BetAmerica0,59%0,93%-0,34%
Ocean Resort & William Hill NJ7,39%4,22%3,17%
Hard Rock, Net365 & Unibet1,86%4,76%-2,90%
Tropicana & William Hill NJ0,26%0,10%0,16%

Revenue and Taxes paid

OperatorRevenue NovemberTaxes Paid NovemberYTD Total Revenue
Resorts, DraftKings & BetStars$9 129 854$1 186 881$70 274 876
Borgata & BetMGM$1 343 185$174 614$4 041 198
Bally’s, 888sport & Caesars$455 553$59 222$3 412 252
Meadowlands, FanDuel & PointsBet$12 197 755$1 588 222$107 884 253
Monmouth, William Hill NJ, SugarHouse, The Score$1 861 355$241 976$16 375 672
Golden Nugget & BetAmerica$163 863$21 302$1 360 683
Ocean Resort & William Hill NJ$2 054 925$267 140$12 574 711
Hard Rock, Net365 & Unibet$517 252$67 243$2 815 193
Tropicana & William Hill NJ$71 706$9 322$226 725
Totals$27 795 448$3 615 922$218 965 563

New Jersey Online Sports Betting October 2019

What a month for online sports betting in New Jersey. Over $38 million in total revenues which is a record breaking month in terms of revenues to the sportsbook operators in NJ. FanDuel (together with PointsBet) is back on over 50% market revenue share and DraftKings has fallen under 30%.

The battle of the rest is now lead by Unibet and Bet365 (licensed under Hard Rock Casino). Massive improvement by the European giants and they are now in 3rd place with a market share close to 5%. With Bet365 being in very early stages with their US launch this number is likely to go up as they gain more traction in NJ. BetMGM is off to a nice start after changing name from PlayMGM.

SugarHouse October revenue numbers are not impressing. Big drop in market share but we believe this is just a temporary decrease as SugarHouse has shown strong consistent numbers over the year (BUT overall a slight downward spiring trend over the last few months). Caesars and 888sport are struggling in October. It this is a temporary drop or not we will know next month but it is certainly not looking great for these brands at the moment.

Will November surpass the $40 million mark?

Market share

SportsbookOctoberSeptemberChange in market share
Resorts, DraftKings & BetStars27,28%36,40%-9,12%
Borgata & BetMGM3,59%2,50%1,09%
Bally’s, 888sport & Caesars0,01%1,70%-1,69%
Meadowlands, FanDuel & PointsBet53,43%45,20%8,23%
Monmouth, William Hill NJ & SugarHouse4,31%8,00%-3,69%
Golden Nugget & BetAmerica0,93%1,10%-0,17%
Ocean Resort & William Hill NJ4,22%4,40%-0,18%
Hard Rock, Unibet & Bet3654,76%0,60%4,16%
Tropicana & William Hill NJ0,10%0,10%0,00%

Revenue and Taxes paid

OperatorRevenue OctoberTaxes Paid OctoberYTD Total Revenue
Resorts, DraftKings & BetStars$10 558 087$1 372 551$61 145 022
Borgata & BetMGM$1 387 821$180 417$2 698 013
Bally’s, 888sport & Caesars$5 366$69 758$2 956 699
Meadowlands, FanDuel & PointsBet$20 679 747$2 690 717$95 686 498
Monmouth, William Hill NJ & SugarHouse$1 666 410$216 633$14 514 317
Golden Nugget & BetAmerica$359 216$46 698$1 196 820
Ocean Resort & William Hill NJ$1 635 104$212 564$10 519 786
Hard Rock$1 841 732$239 425$2 297 941
Tropicana & William Hill NJ$40 014$5 202$155 019
Totals$38 704 731$5 033 965$191 170 115

New Jersey Online Sports Betting September 2019

What a month for online sports betting. Compared to August the revenue is up with 50% and compared to last year in September (which obviously was early days for online sports betting) the revenues are up with around 250%. The start of the NFL season is the dominant factor in the massive increase from August to September but there is a clear overall trend, online sports betting is growing in popularity in New Jersey.

DraftKings are continuing to take market share from FanDuel. Borgata and BetMGM are up 75% with a total market share of 2,5%. Still small but trend is looking good. We expect to see some strong numbers from Hard Rock with Unibet and Bet365 leading the way in the coming months. Their products are strong and should be able to attract picky sports bettors as their brand recognition increases.

One thing is clear, the online sports betting landscape in New Jersey is changing to the better for sports betting enthusiasts.

Market share online sports betting New Jersey

SportsbookSeptemberAugustChange in market share
Resorts, DraftKings & BetStars36,4%34,90%1,53%
Borgata & BetMGM2,5%1,40%1,05%
Bally’s, 888sport & Caesars1,7%1,80%-0,15%
Meadowlands, FanDuel & PointsBet45,2%48,30%-3,15%
Monmouth, William Hill NJ & SugarHouse8,0%7,20%0,83%
Golden Nugget & BetAmerica1,1%0,90%0,24%
Ocean Resort & William Hill NJ4,4%4,80%-0,38%
Hard Rock, Unibet & Bet3650,6%0,60%0,01%
Tropicana & William Hill NJ0,1%0,20%-0,10%

Revenue and Taxes paid

SportsbookRevenueTaxes PaidYTD Total Revenue
Resorts, DraftKings & BetStars10 721 309 $1 393 840 $50 586 935 $
Borgata & playMGM721 801 $93 834 $1 310 192 $
Bally’s, 888sport & Caesars486 668 $63 267 $2 420 099 $
Meadowlands, FanDuel & PointsBet13 288 150 $1 728 892 $75 006 751 $
Monmouth, William Hill NJ & SugarHouse2 364 466 $307 381 $12 847 907 $
Golden Nugget & BetAmerica336 740 $43 776 $837 604 $
Ocean Resort & William Hill NJ1 301 140 $169 148 $8 884 682 $
Hard Rock178 255 $23 173 $384 413 $
Tropicana & William Hill NJ29 783 $3 872 $115 005 $
Totals29 428 312 $3 827 183 $152 393 588 $

New Jersey Online Sports Betting August 2019

DraftKings fight back after a tough month in July regaining most of their lost market share. Still falling behind June and previous months in 2018 numbers but is the clear winner of August 2019. FanDuel falling under the 50% mark but still by far the market leader with little to no trend of that changing in 2019.

The big loser of August is Monmouth with SugarHouse and Will Hill. Going from 11,9% market share down to 7,2% which is equivalent to a 39% drop in their total market share just in one month. It is still early days in New Jersey for sports betting but this drop is massive. Let’s see if they can regain their position in September where we expect record-breaking numbers as the NFL season has kicked off.

Market share online sports betting New Jersey

SportsbookMarket share AugustMarket share JulyChange in market share
 
Resorts, DraftKings & BetStars
34,9%26,8%8.1%

Borgata
& playMGM
1,4%1,2%0,2

Bally’s
, 888sport & Caesars
1,8%1,7%0,1%

Meadowlands, FanDuel & PointsBet
48,3%52,7%-4,4%

Monmouth, William Hill NJ & SugarHouse
7,2%11,9%-4,7%

Golden Nugget
 & BetAmerica
0,9%0,9%0,0%

Ocean Resort
 & William Hill NJ
4,8%4,6%0,2%

Hard Rock
0,6%0,2%0,4%

Tropicana & William Hill NJ
0,2%0,1%0,1%

Revenue and Taxes paid

The total sports handle for July was $249 million with a hold of 7,70%. The handle increased with 16.9% together with the hold which went up with 17,8% from the previous month of July.

SportsbookRevenueTaxes PaidYTD Revenue
Resorts, DraftKings, FoxBet$6 697 318$870 651$39 865 626
Borgata, BETMGM$261 312$33 971$588 391
Bally’s, 888spors, Caesars$340 832$44 308$1 933 431
Meadowlands, FanDuel, PointsBet$9 269 586$1 210 750$61 718 601
Monmouth,  William Hill NJ, SugarHouse$1 388 662$180 520$10 483 441
Golden Nugget, BetAmerica$181 427$23 586$500 864
Ocean Resort, William Hill NJ$915 129$118 639$7 583 542
Hard Rock$106 487$13 843$206 158
Tropicana, William Hill$39 638$5 153$85 222
Totals $19 200 391$2 501 421$122 965 276

New Jersey Online Sports Betting July 2019

Market share online sports betting New Jersey

Meadowlands is leading the revenue race thanks to the success of FanDuel with a market share of over 50%. Resorts with DraftKings are clear second with slightly over 25% market share (half of FanDuel) but falling behind and losing market share. Will Hill and SugarHouse on Monmouth are third with over 10% market share. No other is currently close to the 10% mark. Will FanDuel continue their run and if so how many points more can they steal from the competition. Considering how much they have grown from June we see no stopping in their market dominance.

SportsbookMarket share JulyMarket share JuneChange in market share
 
Resorts, DraftKings & BetStars
26,8%38,7%-12,0%

Borgata
& playMGM
1,2%0,5%1,6%

Bally’s
, 888sport & Caesars
1,7%0,4%1,3%

Meadowlands, FanDuel & PointsBet
52,7%39,3%13,4%

Monmouth, William Hill NJ & SugarHouse
11,9%10,4%1,5%

Golden Nugget
 & BetAmerica
0,9%0,5%0,4%

Ocean Resort
 & William Hill NJ
4,6%11,4%-6,8%

Hard Rock
0,2%-0,4%0,6%

Tropicana & William Hill NJ
0,1%0,1%0,0%

Revenue and Taxes paid

The total sports handle for July was $213 million with a hold of 6.53%.

SportsbookRevenueTaxes paidYTD Revenue
Resorts, DraftKings & BetStars3 721 550 $483 802 $33 168 308 $
Borgata & playMGM163 086 $21 201 $327 079 $
Bally’s, 888sport & Caesars236 254 $30 713 $1 592 599 $
Meadowlands, FanDuel & PointsBet7 323 483 $953 956 $52 463 652 $
Monmouth, William Hill NJ & SugarHouse1 650 179 $212 283 $9 094 779 $
Golden Nugget & BetAmerica127 349 $16 555 $319 437 $
Ocean Resort & William Hill NJ645 956 $82 839 $6 668 413 $
Hard Rock24 669 $3 207 $99 671 $
Tropicana & William Hill NJ14 968 $1 824 $45 584 $
Total13 907 494 $1 806 380 $103 779 522 $

June 2019 – Market share, revenues and taxes paid

The total sports handle for June was $226 million with a hold of 3.06%.

SportsbookMarket shareRevenueTaxes Paid
Resorts, DraftKings & BetStars38,7%2 687 946 $349 433 $
Borgata & playMGM-0,5%32 882 $-4 275 $-
Bally’s, 888sport & Caesars0,4%26 752 $3 478 $
Meadowlands, FanDuel & PointsBet39,3%2 725 594 $356 214 $
Monmouth, William Hill NJ & SugarHouse10,4%718 131 $92 897 $
Golden Nugget & BetAmerica0,5%37 515 $4 877 $
Ocean Resort & William Hill NJ11,4%793 682 $10 222 $
Hard Rock-0,4%28 698 $-3 731 $-
Tropicana & William Hill NJ0,1%10 329 $1 343 $
Total100,0%6 938 369 $902 456 $

Source: www.nj.gov

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