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DraftKings claims NJ sports betting top spot in August

| By Robert Fletcher
DraftKings and partner Resorts World led the New Jersey sports wagering market in August, knocking Meadowlands off top spot for the first time since January 2019.
DraftKings Donoghue

The partnership heralded $56.9m (£45.9m/€53.3m) in August. This was ahead of Meadowlands and partners FanDuel, PointsBet and SuperBook on $25.7m. PointsBet will soon rebrand as Fanatics after the latter completed the acquisition of the PointsBet US business in eight states, including New Jersey.

Total sports betting revenue for the month amounted to $96.0m, representing a 47.1% rise on last year. This was also the sector with the highest percentage of growth in the state in August.

In addition, sports wagering handle in New Jersey hiked 32.7% year-on-year from $546.8m to $725.8m. Of this total, $697.1m was bet online and $28.8m at retail sportsbooks across New Jersey.

Sports betting drives overall market growth in New Jersey

Total gambling revenue in New Jersey hiked 12.9% year-on-year to $531.6m in August. The monthly total was comfortably ahead of $470.7m in August 2022 and 5.0% up from $506.2m in July this year.

Land-based gambling drew $280.3m in revenue, a rise of 2.3% on last year. This included $210.5m in slot revenue, up 3.0%, and $69.7m in table game revenue, which edged up 0.2% to $69.7m.

Internet gambling was the next highest source of revenue, generating a total of $155.3m in August. This was 18.1% higher than last year’s $131.4m total.

Online slots accounted for $152.9m of all igaming revenue, with peer-to-peer poker revenue at $2.4m.

Resorts Digital edged ahead into top spot for the month with $42.3m in igaming revenue. In second was Golden Nugget on $40.8m, just ahead of Borgata – July’s leader – in third with $40.2m.

Year-to-date revenue edging towards $4.0bn

Looking at year-to-date performance, overall market revenue in New Jersey for the eight months to the end of August hit $3.77bn. This is 11.2% ahead of the same period in 2022.

Some $1.93bn came from land-based gambling, a rise of 2.3%. This includes $1.43bn in slot revenue and a further $496.1m in table game revenue.

Internet gambling revenue came in 14.6% higher at $1.24bn. Online slots revenue increased by 14.8% to $1.22bn and internet poker 6.6% to $19.8m.

As for sports betting, revenue hiked 42.7% to $597.9m for the eight-month period. Handle for the market in this time amounted to $6.47bn.

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