New Jersey Will Soon Pass $1 Billion in Sports Bets

Dec 13, 2018 10:07 PM EST
  • New Jersey had its best month ever for sports betting, drawing a handle of $330.7 million in November.
  • Since going live in June, the state has brought in $928 million in bets.

The state of New Jersey brought in $330.7 million in sports bets in November, according to numbers released Wednesday by the state’s Division of Gaming Enforcement.

In the five-and-a-half months since the state started taking sports bets — June 14 through the end of November — the total handle was $928.1 million, or $4.5 million in bets made per day.

The biggest winner in the competitive online and mobile app market continues to be DraftKings, which was the first out of the gate with a digital product.

DraftKings generated $7.1 million in gross revenue for the state in November and $23.7 million year-to-date.

“DraftKings continues to set the pace in New Jersey sports betting,” said Jamie Shea, DraftKings’ senior director of its digital sportsbook, in a statement. “Since August, DraftKings has taken more than eight million bets and paid out $250 million to sports fans.”

The most successful retail sportsbook is run by DraftKings’ daily fantasy competitor FanDuel, which runs the sportsbook at the Meadowlands in the shadow of MetLife Stadium, where the New York Jets and Giants play.

The sportsbook there, which opened on July 14, has brought generated $12.5 million in gross revenue through November.

The three other retail sportsbooks that have turned into a force: Monmouth Park and Oceans, run by William Hill (which has brought it almost $13 million combined) and The Borgata run by MGM ($5.7 million).

Fifty-eight percent of the money wagered in New Jersey since June has come digitally (mobile apps and web), while 42% has come from the brick-and-mortar sportsbooks.

In November alone, 72% of the money wagered in New Jersey came via digital platforms.

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