New Jersey’s sports betting industry is almost at the $1 billion handle figure following November’s results. The New Jersey Division of Gaming Enforcement noted that the handle went up 26.9% when compared to October’s handle figure.
The current total handle stands at $928.1 million, a cumulative amount since June 14th. November’s wagers reached a total of $330.7 million. There is no doubt that the $1 billion handle figure milestone is imminent. Despite higher gross revenue, October’s handle figures only reached $260.7 million. At $23.9 million, September’s gross revenue was higher than October ($11.7 million), and November ($21.2 million).
DraftKings Leads New Jersey Sports Betting Industry
Another important change in November saw DraftKings open retail space at its partner, Resorts Casino. About 95% of Resorts Casino’s handle comes from DraftKings with BetStars contributing the rest.
Jamie Shea, senior director of DraftKings’ digital sportsbook noted: “DraftKings continues to set the pace in New Jersey sports betting.”
“Our new retails sportsbook at Resorts had a strong first month, capped with an exciting consumer event this past weekend,” said Shea. “No one understands the American sports fan like DraftKings.”
FanDuel, the first legal sports betting operator in the US, saw positive revenue in November, along with greater customer participation. FanDuel, partnered with the land-based Meadowlands Casino, doubled its October revenue to $7 million in November.
When compared to October, William Hill’s land-based partner, Ocean Resort, saw its revenue triple to $2.8 million in November.
Although sports betting is still only a small percentage of New Jersey’s betting revenue, the industry is seeing noteworthy increases.
