The month of October proved, once again, the sports betting industry in The Garden State is flourishing, and even in fall. In fact, recently, the DGE release its monthly figures. And as it stands bookmakers took in $487.9 million collectively in bets last October. And this is quite a record since the numbers indicate an 87% jump YOY. But it has also shown an impressive monthly growth of $42 Million.
Indeed, Octobers 2019 figures beat the previous month’s all-time high record of $445.6 Million. And the taxman is very happy. The tax yield is equivalent to $5.7 Million this month. Sportsbook is a lifetime contributor to $331.2 Million to the state’s tax chest.
While the figures are impressive, some experts predict even better figures given the popularity of Basketball. This year, this sport is responsible for intake of $698.2 Million in bets.
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The pack leaders in terms of sports betting online
As for many months already we’re noticing that the partnership between FanDuel, Betfair, and the Golden Nugget is paying off. In fact, FanDuel Sportsbook and PointsBet generated a total GGR of $20.7 million, up from $13.3 MOM. Another fruitful partnership when it comes to sportsbooks is Resorts Digital’s and DraftKings (Fox Bet) one. It took in $10.6 Million last month. And the third of the pack in terms of Sportsbook revenue is the joint venture of Hard Rock, Bet365, Unibet who opt its revenue by $178,255 MOM.
More casinos see GGR increase
Granted that the figures (below) aren’t as impressive as the market leaders (above). But still, they indicate an uptrend when it comes to sports betting online too. Some of the most noticeable intakes have been from the Ocean Resort Casino and William Hill venture which took in $1.6 million this month. And BetMGM and Borgata together racked up $1.4 million as well.
And the last of the pack this month are Caesars Casino, 888sport, and BetAmerica. But, the very last of the pack this month’s it’s the online sportsbook of Tropicana. But as we’re entering the peak of the sportsbook season, things can only go up from there. And that’s regardless of the order you have in the pack.