New Jersey breaks sports betting handle record with $1.30bn wagered in October

main__photo

New Jersey recorded an all-time high sports betting handle of $1.30bn in October, with total gambling revenue for the month across the state coming to $448.7m.

Sports betting handle was split between the land-based and online sectors, with online bringing in the lion’s share at $1.18bn. The remaining $124.2m was wagered in retail sportsbooks.

Total gambling revenue was up 32.7% against October 2020, and consisted principally of $237.5m from Atlantic City’s land-based casinos, representing year-on-year growth of 27.6%.

A further $84.2m came from sports betting, up 43.8%, and $127.0m from online casino, up 35.9%.

The majority of land-based casino revenue, $179.3m, came from slots, with the remaining $58.3m coming from table games.

The state collected $45.8m in gaming taxes during October, reflecting 8% of taxable casino revenue, 15% of online GGR, 8.5% tax on casino and racetrack sports wagering gross revenue, and 13% tax on casino and racetrack online sports wagering gross revenue.

In addition, the casino industry incurred $6.5m in 1.25% additional tax on sports wagering gross revenue and investment alternative tax obligations. The Racetrack Economic Development Tax of 1.25% of racetrack sports wagering gross revenue brought in $697,763.

Looking at the year-to-date performance in New Jersey, operators have generated a total of $3.89bn in revenue, up from $2.28bn for the same period in 2020.

Year-to-date revenue was made up of 54.9% from land-based casino gaming, 28.7% from online casinos, and 16.5% from sports betting, both land-based and online.

About the author

photo
Conor Mulheir

Conor entered the gaming industry in 2018 producing high-level live event content for audiences in London, Amsterdam and São Paulo. From 2020, he went on to report news and commission exclusive content for various gaming media brands before joining iGaming NEXT as editor in January 2022.

Related Stories