Extra Weekend in October Lifts NJ Sports Betting to New High

Online, mobile sports betting hits a record $77 million; Online casino revenue also hits a record at $124.6 million, but poker slides 2.4%.
Extra Weekend in October Lifts NJ Sports Betting to New High
November 20, 2021

An extra weekend of action in college football and the NFL boosted online and mobile sports betting revenue in New Jersey to a record $77 million in October, up about 7% from September and 48% year-to-year, data from the New Jersey Division of Gaming Enforcement (NJDGE) show.

NJ online casino revenue also hit a record $124.6 million in October, but revenue from the state’s three regulated online poker rooms fell 2.4% to $2.4 million.

Freehold, Barstool off to hot start

Meadowlands Racing & Entertainment, partnered with FanDuel Sportsbook, PointsBet and SuperBook, recorded $39.6 million in revenue, up 8.3% month-to-month ($36.6 million) and 35% year-to-year ($29.3 million). The racetrack continued to dominate the vertical and held 51.5% of the market in October, up slightly from September.

Resorts, with its own branded sportsbook and partners DraftKings Sportsbook and FOX Bet NJ, saw its sports betting revenue surge 21% month-to-month to $15.9 million, up from $13.2 million. Revenue was up almost 9% year-to-year, from $14.6 million. It held 20.5% of the market in October, up two points month-to-month.

It wasn’t a good month for Borgata, which also has its own branded sportsbook but is also in partnership with BetMGM Sportsbook NJ. Borgata, with 10% of the market, grossed $7.8 million in October, down almost 28.5% from September ($10.8 million). Still, Borgata’s revenue was up 140% year-to-year ($3.2 million).

Freehold Raceway, where Barstool Sportsbook launched in mid-August, brought in $6.8 million in October, up 6.5% from September ($4.1 million) and eight-fold from August ($753k).

Another record for online casino revenue

Online casino revenue in New Jersey hit a record for the second consecutive month. October was also the fifth record-breaking month for the year, illustrating that the vertical shows no signs of slowing down.

October’s total of $124.6 million was 3.6% higher than September ($120.1 million) and 27% higher year-to-year ($90.9 million).

NJDGE data show the partners on the Borgata license — BetMGM Casino NJ, Borgata, Pala and partycasino NJ — held 30.5% of the market and generated $37.9 million in October, up 1.8% month-to-month ($37.2 million) and up nearly 44% year-to-year ($21.4 million).

Golden Nugget, which includes FanDuel, PlaySugarHouse and other operators, was in second with $34.5 million in revenue. Meanwhile, Resorts and its partners, PokerStars NJ, DraftKings and Barstool, among others, was third with $28.7 million. The market shares for the two license groups were 27.5% and 23%, respectively.

The smaller online casino operators combined for $23.5 million in revenue and held 18.9% of the market in October. By comparison, they combined for $24.9 million in revenue and held 20% of the market in September.

Poker revenue takes a dip

At $2.4 million, online poker revenue in October was at its lowest point in the last four months. Revenue from the vertical was down 3.4% year-to-year ($2.5 million), but it has ranged mostly from $2.4 million to $2.7 million this year—above 2019 totals, but below the pandemic year of 2020.

WSOP NJ, on the Caesars license, was the only operator to gain revenue month-to-month. The $875k realized in October was an 8.7% increase from September ($805k) but was 8.1% lower year-to-year ($952k).

After battling for most of the last five-and-a-half years to be the top poker operator, the trio of online poker sites on the Borgata license (BetMGM Poker NJ, Borgata Poker NJ and partypoker NJ) stayed there for a second consecutive month – but just barely.

The Borgata trio held 38.5% of the market in October, compared to 36% for WSOP. Borgata also grossed $933k in October, down 8.6% month-to-month ($1.0 million) but up 29% year-to-year ($724k).

PokerStars NJ, on the Resorts’ license, was in third place with a 25.5% share. PokerStars had revenue of $624k in October, down 6.3% from September ($666k) and off 26% from October 2020 ($842k).

If you or someone you know has a gambling problem and wants help, call the Virginia Council on Problem Gambling (VACPG) helpline at 1-888-532-3500

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