FanDuel Sportsbook Continues To Dominate NJ Sports Betting Revenue Reports

Per NJ.gov, the NJDGE has released July betting revenue numbers. Keep in mind, the month of July is traditionally the worst of the bunch, and yet check out the strong results:

– Sports Betting Handle – $251,317,272 (down from $273.2M in June)
– Sports Betting Revenue – $17,884,790 (up from $9.7M in June)
– Completed Events Hold% – 7.1% (4.7% June)
– Mobile/Brick Mix – 85/15 (83/17 in June)

What Does This Mean for NJ Sports Betting?

Mobile betting is the king. Now 85% of bets have been placed via mobile devices online, making the state of New Jersey much more money than other states who have not enabled mobile betting to date. 85% of bets entered via online/mobile is simply massive, and even crazier is that number grew from the previous month. What is one of the top rules of business? The consumer is always right, mobile it is.

Think about it this way, of $251,317,272 bet on sports in July, over $213M of it was bet via mobile apps or online. That is a monstrous amount, and other states that do not offer mobile betting need to take notice. “Only” $38,332,533 was bet on-site at NJ retail sportsbooks.

FanDuel Sportsbook generated over $9M in online revenue, which is over HALF of the revenue for NJ online sports betting in July.

DraftKings Sportsbook NJ (via Resorts Digital) generated $3.7M in July.

Year to Date Updates

Year-To-Date Handles
On-Site (Retail) Sports Betting – $416.0M
Online Sports Betting – $1.82B

Year-To-Date Internet Gaming Revenue By Operator
Golden Nugget – $93.54M
Borgata – $38.46M
Caesar’s Interactive – $33.09M
Hard Rock – $12.32M
Ocean Resort – $3.04M

Year-To-Date Sports Betting Revenue By Operator
Meadowlands (FanDuel) – $66.95M
Monmouth Park (Racetrack) – $12.56M
Resorts Digital (DraftKings) – $33.17M
Ocean Resort – $6.98M
Bally’s AC – $2.52M
Borgata – $1.89M

July Gaming Taxes: $27.73M
Year-To-Date Gaming Taxes: $164.24M

By the Numbers:

In July, $13M of $18M in revenue came from FanDuel Sportsbook and DraftKings Sportsbook combined. That is a huge market share for the two companies.
Compared to last year in July, Casino Win is up 1.8%.
Compared to last year in July, Internet Gaming is up 51.8%.
Compared to last year in July, Sports Wagering is up to $17.88M from $3.85M
New Jersey’s July beat Nevada’s all-time July record. Think about that.

If you would like to read the entire release, check it out here via NJ.gov.