The Garden State couldn’t keep up the pace set in September with October’s legal sports betting numbers, but operators still produced big profits.
The New Jersey Division of Gaming Enforcement announced $92.3 million in revenue for October off a $1.3 billion handle. Profits fell 17% month-over-month, but they rose 18.4% year-over-year and crossed $800 million year-to-date.
The collision of MLB, NBA, NFL, college football, and NHL produced the fourth-highest handle in New Jersey sports betting history.
The 7.1% hold dropped nearly a point and a half from September, which also featured a slightly higher handle.
The Garden State hauled in $11.8 million in taxes from sportsbooks. Online sports betting brought in $1.2 billion of the overall handle and $88 million of the revenue while retail sportsbooks accounted for $56.3 million in wagers and $4.3 million in profits.
Meanwhile, online casino gaming produced a state-record $166.8 million in revenue.
Football sets record
It was a really solid football month of action for New Jersey sports betting. The sport brought in a state-record $517 million. Football produced $16.8 million of the total revenue.
Baseball, in its final full month, gave operators a 9% win rate and $11.8 million of revenue.
Despite the NBA starting its regular season late in October, basketball still took in over $88 million in wagers.
Enjoying Covers content? Add us as a preferred source on your Google account
New Meadowlands partners profit big
New Meadowlands, which is partnered with FanDuel, PointsBet, and SuperBook, recorded a combined revenue of $57.8 million.
DraftKings helped bring in $15.3 million to Resorts Digital Gaming, while Hard Rock, which utilizes Unibet and bet365, produced $2.1 million in profits.
New Meadowlands led brick-and-mortar sportsbooks with revenue of $2.4 million, but four retail operators took a loss for the month.
