N.J. finally breaks $1B monthly sports betting mark in September

(File photo)

New Jersey has finally earned its big sports gaming win, taking in more than $1 billion in wagers for the month of September, according to gaming analysis firm PlayNJ.

New Jersey became the first U.S. state to break that barrier, reaching $1.01 billion for the month, as well as setting a new high for online casino revenue and reaching a total gaming revenue record of $453.6 million.

“The state’s gaming industry has seemingly run out of ways to surprise, but sportsbooks reaching $1 billion in monthly handle is a reminder that there is no gaming market in the U.S. that is playing on New Jersey’s level,” Eric Ramsey, an analyst for the PlayUSA.com network, parent of PlayNJ, said in a prepared statement. “The relentless growth in online sports betting and casino gaming continues to lift the entire industry.”

The previous record handle of $996.3 million was set by New Jersey in December 2020.

September’s handle was up 35.1% from the $748.6 million generated in September 2020 and up 52.1% from the $664.7 million in August 2021.

Gross gaming revenue came in at $82.4 million, up 82.9% from the year-ago period and 58.5% from the month previous. The revenue mark was just short of the record $82.6 million set in January.

Overall, sports betting produced $12.1 million in state and local taxes for the month.

“With the arrival of football season, the city’s sportsbooks recorded a boost in revenue, increasing 54.5% over August 2021 and 152.8% over September 2020,” Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University, said in a statement. “At $34 million, September monthly sports betting revenue for Atlantic City’s sportsbooks surpassed the record high set in January 2021.”

Other statistics:

  • Football generated $400.8 million in wagers, well ahead of the $185.2 million wagered on baseball;
  • Bettors wagered $918.4 million through online sportsbooks, 90.8% of the total handle and second-most all-time;
  • Retail sportsbooks attracted $92.7 million for the month, another record;
  • Online casinos and poker rooms produced a record $122.6 million in gross gaming revenue;
  • Total revenue for online casino and poker rooms has already set a yearly record, with $988.7 million year-to-date.