NJ Sports Betting Explodes With $23.67 Million In Revenue for First Month Of NFL Season

ATLANTIC CITY, N.J., Oct. 15, 2018 /PRNewswire/ -- The NJ sports betting market kicked off in September with total revenues blasting past $23 million off of $184 million in total bets. Online revenues accounted for roughly 57% of revenues, led by Draftkings Sportsbook, which sits under Resorts Digital Gaming's license. Draftkings soared above the competition with $8.505 million in revenues in their second month of sports betting operations. That takes them to a commanding 35.9% market share.

NJ online sports betting is primed to surpass online casino revenues by the of October with online casino revenues in September ($24.12 million) barely edging by sports revenues. Fanduel, which operates under Meadowlands, came in second with just under $5 million but only generating $2.14 million online. Sports betting is proving to be a real game changer and will only continue to grow throughout football season as more NJ online sports betting operators gear up and launch their products. Most noticeably Golden Nugget and Resorts Online Casino are fighting to get their products launched before the end of the year.  

NJ Online Casino Games Revenue Has Record Month in Spite of Sports Betting

The question still remains how sports will impact casino and poker revenues long term – as replacement wagering or incremental. We saw small online casino revenue growth in September, which was unexpected, and enough to make September the single largest revenue month for NJ online casinos ever. So far a rising tide has lifted all boats but it's still too early to make any scientific analysis.

"Draftkings Sportsbook has a clear edge over anyone else in the market with their dominant brand recognition and existing database," said BonusSeeker.com Casino Editor, Anirudh Vashishth.

The regulated New Jersey online sportsbooks generated $23.67 million gross revenue in September, up $14.49 million in its second month and after the launch of NFL.

NJ Sports Betting Revenue by numbers (in $ millions) – Sept 2018

For more information, visit https://www.bonusseeker.com

About BonusSeeker:
BonusSeeker is a leading source for iGaming news, online games, and online-casino promotions in the U.S. regulated online gaming markets.

View original content:http://www.prnewswire.com/news-releases/nj-sports-betting-explodes-with-23-67-million-in-revenue-for-first-month-of-nfl-season-300731343.html

SOURCE BonusSeeker