August has been the best month of the year for New Jersey so far. The state reported revenue of $ 127 million from both online gambling and sports betting. After the resumption of the major league games the bettors went online again.

According to the New Jersey Division of Gaming Control (DGE) report released this week, licensed online gambling operators reported combined revenue of $87.77 million in august, doubling the $41.1 million produced in the same period of 2019.

Total revenue for august also slightly surpassed the july record of $87.5 million. This was made possible because online casino revenue increased an incredible 115% to $84.7 million. While the underweighted vertical for online poker was up 77.7% to close to $3 million. However, the total of poker suffered a decrease of $4.8 million in july.

From january to august, online gambling revenue reached almost $ 598 million, which is a 100.7% increase over the same period in 2019. Online casino, on the other hand, saw an increase from 101% to $569.7 million, while online poker rose 96.2% to $28.3 million.

In the list of most visited sites and with the highest income, the Golden Nugget stands out, which obtained $27.65 million (+ 84.5%) in august, surpassing all its rivals. Borgata appears in second place with $ 19.8 million followed by Resorts Digital with $ 17.9 million. Although the last two increased during the month a formidable 177.2% and 140.2%, respectively.

The gap in earnings relative to the Nugget is then likely to narrow in the coming months.

The Nugget only offers casino games, whereas the Borgata presents online sports betting through BetMGM and Resorts Digital does so through DraftKings. These sites increased their traffic and bets after major league games were resumed.

State-licensed sports betting operators reported revenue of $39.5 million in august, $10 million more from july. The amount of the bets rose to 668 million dollars in total. This figure, in addition to representing a new all-time record for the state, surpassed the state record from november last year of $614 million.

In Atlantic City casinos, which are still under restrictions due to the pandemic, only $66 million (9.9%) was wagered at the retail level in august. Basketball made $166.2 million for the month, while baseball raised $150 million. The rest of the sports as a whole led the table with about $205 million.

But the absolute leaders in betting in august were Meadowlands Racecourse and its partners FanDuel / PointsBet, which achieved revenues of more than $21.1 million. Instead, Resorts Digital / DraftKings lagged behind with just $ 10 million.

Third place went to Borgata’s BetMGM with just $ 4.5 million.

Nevada is expected to release its results in late august to see if it continues to lead the pack or was outmatched by other states.

Source: https://calvinayre.com/2020/09/14/business/new-jersey-online-gambling-sports-betting-august/

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