New Jersey Sports Handle Hits $931.6 Million In November

New Jersey Sports Handle Hits $931.6 Million In November

The online gambling market of New Jersey is reaching new heights every month. According to the latest figures released by the New Jersey Division of Gaming Enforcement (DGE), the New Jersey sports betting handle hit a record high of $931.6 million in November.

A flourishing market

The online gambling market of New Jersey has generated combined revenue of $91.8 million from poker and online casino operators in the month of November 2020. This marked an 87% rise in revenue on a yearly basis. Though the number is still less than the $93.5 million earned in October 2020.

New Jersey Sports Handle Hits $931.6 Million In November

Online casinos in the state experienced an 87.7% uptick in year-on-year revenue which totaled $89.4 million. Online poker also showed signs of slow but steady growth with over 75% upside at $2.4 million. The overall online revenue for the first 11 months of 2020 is $870.9 million, double the amount compared to the same period last year.

Golden Nugget dominates the market

The November handle was dominated by Golden Nugget which received $26 million in revenue and marked a 37.5% increase. Borgata Casino’s digital partners marked a huge increase in revenue of 185% but their total was $23.4 million. Resorts Digital Gaming also received a 90.8% increase in revenue which totaled $21 million.

No other operator in the state was able to make double-digit revenues. Caesars Interactive Entertainment earned only $8.1 million during the month. The biggest year-on-year gains were witnessed by Hard Rock Atlantic City. Its revenue grew by 189.1% to $6.3 million during the month. Tropicana’s revenue for the month was $6.1 million, up by about 66%. The Ocean Casino Resort couldn’t hit the $1 million mark with its 72.4% increase and earned $948k.

Sports betting handle went through the roof in November and New Jersey posted a new state and national record of $931.6 million. About 93.6% of the sum was wagered digitally. In October, the state’s total handle was $803 million. The betting revenue in October was $8 million which skyrocketed to $50.5 million in November.

The year-to-date betting revenue at the end of November was $332.1 million, marking a 23% increase compared to the same period last year. The biggest chunk of betting revenue, about $24.8 million went to FanDuel/Meadowlands. DraftKings/Resorts Digital earned $14.6 million while William Hill/Ocean Casino Resort earned $3.6 million.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.