Sports Betting
In September, New Jersey sportsbooks generated $119.6 million in revenue
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished7 hours ago on October 21, 2024
The New Jersey Division of Gaming Enforcement reported $1.1 billion worth of wagers from online and retail sportsbooks in September. That was a massive 56% month-over-month increase from their figures in August. New Jersey sportsbooks saw the handle drop 16.7% year-over-year in September. Despite that, their $119.6 million in revenue is the second-highest total all-time for the state.
This was also New Jersey’s first $1 billion monthly handle since April 2024. The Garden State’s September revenue was only second to the $170.8 million in January. That was a 7.6% year-over-year and 90% month-over-month increase. Year-to-date revenue is now over $835 million. Retail sportsbooks had an impressive 13.8% hold from $58.5 million worth of wagers. Online sportsbooks accounted for $111.5 million worth of wagers in September.
NFL and college football helped sportsbooks improve their figures
Starting in September 2023, New Jersey sportsbooks saw seven consecutive months with at least a $1 billion handle. That’s thanks to the NFL and college football kickstarting those numbers in September. The Garden State could be headed toward a similar run in 2024. In September, the NFL and college football generated $405.7 million worth of wagers and $16 million in revenue. Operators combined for a minuscule 4% hold in September from football. New Jersey sportsbooks collected $85.4 million worth of revenue off parlays from a $352.7 handle.
What New Jersey sportsbooks saw the most profit in September?
FanDuel’s online sportsbooks claimed $48.8 million worth of revenue in September. That was double their figures from the previous month. DraftKings was in second place with $38.6 million worth of wagers. The online operator is now over $200 million in profits for 2024. BetMGM saw its revenue jump from $5.4 million in August to $7.8 million in September.
The sportsbook is now approaching $50 million in revenue for 2024. Coming in at fourth place was bet365 with $4.8 million in revenue. Caesars Sportsbook was now far behind with $4.2 million in profit. ESPN BET saw $2.5 million in revenue while Fanatiics had $2.46 million. BetRivers and Hard Rock also had over $1 million in profits for September.
