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FanDuel hits the top spot in New Jersey

| By iGB Editorial Team
Sportsbook took a third of sports revenue in state’s first full month

FanDuel is targeting the start of the NFL season after figures showed it became New Jersey’s No.1 sportsbook during its debut month.

The state’s sports betting venues took in $40.6m (£31.9m/€35.8m) in wagers in July, the first full month after wagering was legalised in New Jersey in June. Figures released by the state’s gambling regulator show that five venues reported gross gaming revenue of $3.8m, which was only slightly up on the $3.6m posted in June despite betting only being legalised midway through the month.

FanDuel only went live with its brick-and-mortar sportsbook at Meadowlands Racetrack on July 14 but was the most popular venue, with its $1.36m making up around a third of total gaming revenue. 

William Hill’s partners, Monmouth Park and the Borgata casino, both experienced a month-on-month drop. Monmouth Park’s revenue was down by almost two thirds from $2.28m in June to just $856,000 in July, with the Borgata down 42% to $563,000.

In a statement released to iGamingBusiness.com, FanDuel said: “We are very pleased with the first month of the FanDuel Sportsbook in New Jersey.

“We are thrilled that customers are enjoying their experience at the FanDuel Sportsbook at the New Meadowlands Racetrack, and are excited to commence the football season and the opening of our permanent facility.”

The Paddy Power Betfair-owned brand is set to launch its digital sportsbook ahead of the start of the NFL season on September 6. At present the DraftKings Sportsbook, partnered with Resorts Casino Hotel, is the only mobile sportsbook available in New Jersey, although it only launched in August so is not included in the latest New Jersey results. 

The results show that sports betting has some way to go before it can be considered a mature market in New Jersey. Total gaming revenue across the industry was up almost 13% year-on-year at $302.1m, meaning sports betting made up just over 1% of the regulated sector in July. Internet Gaming Win was $25.9 million in July compared to $20.6m in the prior period.

Meanwhile, Resorts Casino Hotel will become New Jersey’s seventh over-the-counter sportsbook later today (Wednesday).

Powered by SBTech, the sportsbook will feature six betting windows, four self-service kiosks and a 12-foot video wall with 15 television screens. 

Image: Kip Levin

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