New Jersey Breaks iGaming Revenue Record in September

The Garden State has seen a very fruitful month of September for its iGaming and online gambling revenue. According to a report from the New Jersey Division of Gaming Enforcement (DGE), the total gambling revenue across online and retail in New Jersey hit $558.3 million in September, which is  7.1% ahead of last year and 0.6% more than August this year.

On a year-to-date basis, New Jersey’s online gambling revenue hit $4.72 billion. This 10.1% increase is notable when compared to the $4.29 billion result for the corresponding period last year.

Which Types of Online Gambling have Increased in Revenue in New Jersey?

The DGE report went into detail on New Jersey’s online gambling numbers. The breakdown noted that internet gaming win last month soared to $208.1 million. This result, compared to the $163.8 million posted in September last year showed a solid increase of 27.1%

As for online casino games, the revenue from content classed as ‘other authorized games’ that  includes online slot games and table games, jumped 27.6% to $205.9m. However, online poker revenue slipped 6.9% to $2.2m.

Year-to-date internet gaming was also marked with an uptick. Through the end of September, internet gaming win hit $1.73 billion that equates to an impressive 23.2% year-over-year increase.

Sports Betting Continues to Hold Strong

On the side of sports betting, its revenue has seen an increase in its year-over-year figures in September as well. Total gross revenue performance from sports betting last month from casinos, racetracks and their partners notched $119.6 million. This was up by 7.6% year-over-year, and almost double August’s $62.7m.

As far as sports betting apps, DraftKings continues to be the top igaming operator, collecting $45.8m in revenue for September. Close at its heels is FanDuel, who raked in $45.3m. BetMGM also had a successful month with $26m.

It is worth noting that the rise in revenue came despite players spending less year-on-year. Additional reports noted that the total handle for the month was $1.09bn, down 16.2% from last year but 56% more than August.

Meanwhile, mobile spending hit $1.03bn, while retail sportsbooks processed 58.5m in bets. This meant New Jersey had a monthly hold of 11.28%.

The month-on-month rise in sports betting is not new since summer months are not that stimulating for players to conduct sports betting in the US. However, September sees the start of the new NFL season, which usually stirs up the sports bettors who are gearing up to support their favorite teams or prepare their betting lines.

New Jersey’s Land-based Casinos Report Revenue Dips

As for the land-based casino market, September showed a slightly downward trajectory for operators. Total revenue hit $230.6m, which is 6.5% less than last year and 21.6% behind August.

By the numbers, according to reports, physical slots revenue dropped 5.2% year-on-year to $173.3m. Meanwhile, table games revenue was down 10.1% to $57.3m.

With the growth of igaming as well as crypto casino markets seeing no signs of slowing down, and the land-based sector seemingly heading in the other direction, it may not be long before online gambling replaces the land-based ones as the primary source of gambling revenue in the Garden State.

What to Expect for New Jersey Online Gambling in October?

Given the recent trend of online gambling in the Garden State, many experts believe that this trend will continue, namely for online sports betting apps. This is due to the upcoming NBA season adding more sports betting options for players to participate in.

New Jersey is one of the states in the US that typically have a strong gambling environment, whether it’s land-based casinos, racetracks, or the best online casinos. As such, the excellent revenue numbers are expected to hold firm.