Finance

NJ revenue up in September as sports wagers reach $748.6m

1 minute read
The New Jersey Division of Gaming Enforcement (NJDGE) has reported a 6.5% year-on-year in increase in gambling revenue for September, aided by ongoing growth in sports betting and igaming.

Total gambling revenue for the month amounted to $323.3m (£250.3m/€276.0m), up from $303.5m in September 2019 and only slightly lower than $323.6m in August this year. September marked the second full month of activity for casinos following their novel coronavirus (Covid-19) shut-down, though they remain limited to 25% capacity.

The return of major sports events had a major impact on New Jersey’s market, as sports betting revenue climbed 19.0% year-on-year to $45.1m, with this total also 14.2% higher than in August.

September saw the start of the National Football League’s 2020 season, as well as the conclusion of the 2019-20 National Hockey League, while both the National Basketball Association and Major League Baseball seasons were in action during the month.

This helped to boost the sports betting handle handle, with players staking $748.6m last month, 68% more than in September last year, and 12.1% more than in August. Online remained the platform of choice, accounting for $678.7m in sports bets, ahead of retail with $69.8m.

Read the full story on iGB North America.

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