NJ Sportsbooks Celebrate Historic November, Report New Monthly Revenue Record

New Jersey sportsbooks set a new monthly record in November, reporting nearly $114.8 million in total revenue.

November’s revenue for New Jersey sportsbooks easily bested October’s total of $84.2 million and was 127% higher than November 2020.

According to data released Thursday by the state Division of Gaming Enforcement, New Jersey sportsbooks took just under $1.26 billion in legal wagers last month.

It is the third consecutive month New Jersey sportsbooks have reported a handle — the amount gambled — of more than $1 billion.

In the last three months, Garden State sportsbooks have handled $3.6 billion in legal wagers and generated $281.4 million in operator revenue. October’s $1.3 billion in monthly sports betting handle is the all-time U.S record.

How high can New Jersey sportsbooks go?

Although New Jersey’s sports betting market is more than three years old, operators are still in customer acquisition mode. Matching deposit bonuses, free play and a near-endless stream of promotions continue attracting new players, and more money, to the market.

As additional online operators join the market, New Jersey sportsbooks are going to keep growing.

“The marketing spend, the reinvestment, hasn’t really slowed down,” Tom Gable, director of race and sports at Borgata Hotel Casino & Spa in Atlantic City, told Play NJ. “So as long as that keeps pace, you’re going to see these big numbers keep coming out every month.”

New Jersey sportsbooks have now taken in $20.9 billion in wagers since the market first opened in June 2018. In that time, New Jersey sportsbooks have netted $1.55 billion in revenue.

New Jersey is the only state to achieve both of those milestones since 2018.

Pigskin and hoops top the charts in NJ

November’s sports betting results were largely driven by professional and college football. However, basketball betting is big in Jersey, too.

Football betting at New Jersey sportsbooks generated $401.3 million in wagers last month. That figure is down considerably from October’s $499 million.

The start of college basketball added to NBA betting in November. According to the NJDGE, $399.7 million was bet on hoops, up from $159.6 million in October.

For the year, basketball has attracted $2.3 billion in bets, the most of any sport. Football is second with $1.6 billion in wagers in 2021.

Online/mobile still king of New Jersey sportsbooks

Online sports betting continues to dominate New Jersey’s market. Almost 91% of the total money wagered last month was done online or via a mobile sports betting app.

More than 93% of November’s sports betting revenue was generated by online sportsbooks.

A handful of New Jersey sports betting licensees and their online operators set revenue records in November.

All three state-licensed racetracks — Meadowlands, Monmouth Park, Freehold — hit all-time highs, as did Resorts Digital and Caesars Atlantic City.

Breaking down November’s numbers

The Meadowlands Racetrack, which includes FanDuel Sportsbook, PointsBet and SuperBook, continued its dominance with $64.4 million in gross revenue. That figure topped the combined $37.5 million reported by the nine AC casino license holders and their online partners.

As far as the Atlantic City market goes, Resorts Digital (DraftKings Sportsbook, Fox Bet and Resorts) claimed the top spot with $22.4 million.

Freehold (Barstool and PlayUp) claimed the third spot this month, with just over $7.9 million. Borgata (BetMGM and Borgata Sports) reported just over $7.7 million.

Here’s how the other operators did in November:

Licensee	Online Brand(s)	Total Revenue	Online Revenue	Retail Revenue	State Tax	Local Tax
Meadowlands	FanDuel | PointsBet | SuperBook	$64,399,740	$59,045,331	$5,354,409	$8,131,040	$1,543,067
Resorts Atlantic City	DraftKings | Fox Bet | Resorts	$22,530,015	$22,448,197	$81,818	$2,925,221	$562,228
Freehold	Barstool | PlayUp	$7,927,171	$7,635,571	$291,600	$1,019,228	$194,884
Borgata	BetMGM | Borgata	$7,773,888	$8,433,867	-$659,979	$1,040,305	$202,597
Monmouth Park	Caesars | SugarHouse | theScore	$4,978,520	$3,557,576	$1,420,944	$583,313	$106,708
Tropicana Atlantic City	Caesars	$3,644,951	$3,391,754	$253,197	$462,431	$87,956
Hard Rock Atlantic City	Hard Rock | bet365 | Unibet	$1,333,563	$1,240,863	$92,700	$169,192	$32,180
Caesars Atlantic City	Caesars | 888 | Wynn	$891,405	$693,137	$198,268	$106,961	$19,807
Ocean	Caesars | Tipico	$830,334	$307,207	$523,127	$84,356	$14,212
Golden Nugget Atlantic City	Golden Nugget | BetAmerica | Betway	$212,530	$174,112	$38,418	$25,901	$4,833
Bally’s Atlantic City	N/A	$164,912	$0	$164,912	$14,018	$2,061
Harrah’s Atlantic City	N/A	$101,694	$0	$101,694	$8,656	$1,273
Total		$114,788,723	$106,927,615	$7,861,108	$14,570,622	$2,771,806

AP Photo/Charlie Riedel