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