Fantasy sportsbook firms lead the way in New Jersey sports betting
News on 14 Oct 2018
News on 14 Oct 2018
Drilling down into the New Jersey sports betting figures for September released Friday by the Division for Gaming Enforcement (see previous reports) reveals interesting developments, among them the fact that online – mobile activity has noticeably accelerated, and former fantasy sports providers FanDuel and DraftKings in their new role are doing well.
DraftKings Sportsbook and BetStars NJ, which operate under the Resorts Digital Gaming licence, led the online revenue list, generating $8.51 million, and if the alliance’s land and online betting numbers are combined accounted for 65.6 percent of the sector’s revenue.
Paddy Power Betfair’s FanDuel Sportsbook operating under the Meadowlands licence did better on the retail side than online, but still delivered a creditable performance – revenue of $2.85 million from online activity, and $4.37 million from retail – the top retail performer in September.
Borgata held second position on the revenue list, contributing $2.39 million from retail and $121,000 from the online operations of PlayMGM.
The other notable online performer was PlaySugarhouse, operating under the Golden Nugget licence and delivering revenue of $619,000, whilst on the retail front Monmouth Park generated a promising $2.14 million in revenue – more than double its figure for August.
Ocean Resort Casino, which opened early in September, holds good potential, recording retail revenue of almost a million dollars (just about double its August total) and online revenue of $292,100.
The September figures illustrate the potential for online sports betting; online handle accounted for an impressive $104.9 million or 57 percent of industry sports betting handle, rising from 22.7 percent in the preceding month.
The tax authorities in New Jersey will be pleased with September’s run as well, state coffers benefitted by $2.6 million from the 8.5 percent tax rate on retail revenues and the 13 percent tax rate on online revenue.
News on 14 Oct 2018
Drilling down into the New Jersey sports betting figures for September released Friday by the Division for Gaming Enforcement (see previous reports) reveals interesting developments, among them the fact that online – mobile activity has noticeably accelerated, and former fantasy sports providers FanDuel and DraftKings in their new role are doing well.
DraftKings Sportsbook and BetStars NJ, which operate under the Resorts Digital Gaming licence, led the online revenue list, generating $8.51 million, and if the alliance’s land and online betting numbers are combined accounted for 65.6 percent of the sector’s revenue.
Paddy Power Betfair’s FanDuel Sportsbook operating under the Meadowlands licence did better on the retail side than online, but still delivered a creditable performance – revenue of $2.85 million from online activity, and $4.37 million from retail – the top retail performer in September.
Borgata held second position on the revenue list, contributing $2.39 million from retail and $121,000 from the online operations of PlayMGM.
The other notable online performer was PlaySugarhouse, operating under the Golden Nugget licence and delivering revenue of $619,000, whilst on the retail front Monmouth Park generated a promising $2.14 million in revenue – more than double its figure for August.
Ocean Resort Casino, which opened early in September, holds good potential, recording retail revenue of almost a million dollars (just about double its August total) and online revenue of $292,100.
The September figures illustrate the potential for online sports betting; online handle accounted for an impressive $104.9 million or 57 percent of industry sports betting handle, rising from 22.7 percent in the preceding month.
The tax authorities in New Jersey will be pleased with September’s run as well, state coffers benefitted by $2.6 million from the 8.5 percent tax rate on retail revenues and the 13 percent tax rate on online revenue.
