New Jersey Sportsbooks Overcome 16% Year-Over-Year Handle Drop In September

Despite a 16.7% year-over-year manage decline in September, the Garden State's sports wagering operators still took $119.6 million, the second-most profits ever.


The New Jersey Division of Gaming Enforcement reported $1.1 billion was wagered at online and retail sportsbooks in September, up 56% from August. It was the first billion-dollar deal with since April's $1 billion and the greatest amount wagered because March's $1.3 billion.


September's revenue ranks behind just January's $170.8 million and increased 7.6% year-over-year. A 90% month-over-month spike now puts year-to-date earnings over $835 million.


The 11% hold was up more than 2 points from Sept. 2023. Retail sportsbooks were well above the overall win rate with an outstanding 13.8% hang on a $58.5 million manage. Online betting websites accounted for $111.5 countless the total profits.


The Garden State filled its coffers with $15.1 million in tax revenue, which exceeded $100 million in 2024.


Football is back


Like most legal sports betting markets, the return of football makes a substantial difference in New Jersey's action. Last September started a streak of 7 successive months of deals with over $1 billion.


New Jersey might be on its method to another similar run. The NFL and college football created $405.7 million in wagers in September and $16 million in earnings. The sport's September handle alone is just $250 million less than July's most affordable amount bet of the year.


Operators just produced a 4% hang on football, but the wildness of the very first couple of weeks of the NFL certainly helped New Jersey sports wagering operators rake in $85.4 million in earnings off parlays on a deal with of $352.7 million.


FanDuel doubles up


FanDuel claimed the most significant portion of September online income with its $48.8 million haul, double what the sportsbook produced in August.


DraftKings was over $12 million behind with profits of $38.6 million, sufficient for second location. The online sportsbook surpassed $200 million in profits for the year.


BetMGM went from $5.4 million in August to $7.8 million in September and is approaching $50 million in 2024.


bet365 edged out Caesars for fourth place with a $4.8 million haul. Caesars reached $4.2 million with ESPN BET being the next closest operator with $2.5 million. Fanatics Sportsbook fell from 5th in August to seventh in September behind a $2.46 million month.


BetRivers and Acid rock Bet also reviewed $1 million in September revenues.


New iGaming record


Online gambling establishments continue to produce big in New Jersey. Last month, the Garden State reached $200 million in iGaming earnings for the first time.


The record month-to-month haul of $208.1 million was up 27% year-over-year. New Jersey nearly arrived in August with $198 million, which was up 28% from July.