New Jersey Online Handle Up 11.4% in October To Reset Record

New Jersey Online Handle Up 11.4% in October To Reset Record

New Jersey’s sports betting industry continued its sprint toward becoming the most lucrative sports wagering marketplace in the United States last month thanks to yet another big increase in mobile betting, this time by 11.4%.

According to the October 2019 gaming revenue report posted Thursday by New Jersey’s Division of Gaming Enforcement, the Garden State once again reported huge gains compared to the previous month’s totals.

New Jersey’s total sports wagering handle increased in October as did its total online handle and total revenue.

New Jersey regulators reported a 9.5% growth overall in total sports betting handle, from $445.6 million in September to $487.9 million in October. While New Jersey’s retail sports betting handle dipped slightly from $71.3 million in September to $71 million in October, the total online handle grew from $374.2 million in September to $417 million in October.

That was an 11.4% increase in the state where online betting is already a pretty big deal.

Sports wagering revenue also grew over 22% over last month’s spiking numbers. October’s total sports betting revenue grew from $37.9 million in September to $46.4 million in the latest report.

New Jersey Sports Betting Revenue, Oct. vs. Sept. 2019

Oct. ‘19Sept. ‘19Change
Net Revenue$46.39M$37.88M+22.4%
Total Handle$487.9M$445.6M+9.5%
Online Handle$417.0M$374.2M+11.4%

New Jersey Mobile Betting Keeps Growing

Bettors continued to flock toward mobile sports betting options during October, such as online sportsbooks and mobile betting apps, over traditional brick-and-mortar locations.

In fact, over 85% of the total handle collected by operators in New Jersey during October was done so online via one of New Jersey’s 17 online sportsbooks.

>>>Find here all about NJ sports betting.

New Jersey lawmakers seemed understand the importance of online betting when they crafted the state legislation and associated regulations that led to legal sports betting being launched in the state 18 months ago.

Now New Jersey is primed to continue the rapid growth it has already displayed throughout the year. The numbers are bound to get higher as both the NFL and college football seasons continue, with important games and high-stakes betting action for the rest of 2019, and with November having a full month of NBA betting as well.

New Jersey Sports Betting Revenue, Oct. 2019 vs. Oct. 2018

Oct. ‘19Oct. ‘18Change
Net Revenue$46.39M$11.69M+296.8%
Total Handle$487.9M$260.7M+87.1%
Online Handle$417.0M$174.4M+139.1%

Biggest Winners and Losers for October

The report distributed by New Jersey regulators does not include financial breakouts by specific sportsbooks. Rather, numbers are reported for each licensed casino.

New Jersey’s biggest winner by far during October was Hard Rock Hotel and Casino Atlantic City, which saw its total sports wagering revenue grow 380% over the previous reporting period. Hard Rock saw both the largest percentage increase as well as the biggest leap in actual financials from $409,405 in September to $1,965,348 in October.

That huge jump up can probably be attributed to the launch of Unibet, which started taking bets on Sept. 10 and had its first full month of online betting action during October. In addition to Unibet, Hard Rock’s own branded online sportsbook is also under that same license in New Jersey, as well as Bet365.

The biggest loser was Ocean’s Resorts, one of the casino license holders in New Jersey with which William Hill operates its online sportsbook. Ocean’s Resorts saw its total sports betting revenue drop 25% over the month and also saw the biggest drop in revenue from $3,105,925 in September to $2,332,763 in October.

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