After a brief one-month respite from the $1 billion mark in total handle, New Jersey sportsbooks are back where they belong.
The state surpassed $1 billion in sports betting as official figures for the month of October were released Thursday by the New Jersey Division of Gaming Enforcement (NJDGE).
October’s total sports betting handle was more than $1.06 billion,up a significant 22.3% from September’s $866.72 million. However, it was down 18.6% from October 2021 when the state posted more than $1.303 billion.
Mobile sports betting accounted for more than $987.6 million, an increase of 22.3% from September’s $807.78 million. It was down 16.2%, however, from October 2021, when the number posted at more than $1.179 billion.
Clearly, New Jersey betting on the NFL has kicked in.
Online usage for the month posted at a 93.2% share of the sports betting market in October, the second consecutive month it has achieved that mark. It also marked the fifth consecutive month above 90%.
Sports betting revenue was the biggest lowlight of the report as it posted a 20.5% decrease from September’s $97.98 million. It also was down 7.4% from October 2021 ($84.15 million).
Internet Gaming Up, Total Gaming Revenue Down
N.J. online casinos enjoyed an internet gaming win of more than $147.17 million, up a nice 8.8% from September ($135.25 million) and a solid 15.9% increase from October 2021 at $127 million.
However, total gaming revenue posted at $445.7 million. That was down 8.1% from September
($484.96 million) and down a 0.7% smidge from October 2021 ($448.7 million).
“Despite a less-than-impressive performance in October 2022 year-to-date, Atlantic City’s casinos are poised to set a new near-term record in year-end total gaming revenue, already outpacing year-to-date October 2021 revenue by 11.5%,” said Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at Stockton University School of Business, on the October report.
TopNJCasinos.com did a Q and A with Bokunewicz early this year.
“While not as impressive as total gaming revenue, Atlantic City’s brick-and-mortar casino revenues overall have been strong in 2022,” she continued. “Brick-and-mortar casino revenue in the period ending October 2022 outpaced the same period in 2021 by 9.3%, despite inflation, increased gas prices and a tapering in pent-up demand.
“Based on year-to-date revenues, 2022 has already exceeded 2019 for year-end total gaming revenues and has the potential to exceed 2019 year-end brick-and-mortar casino revenues as well.”
TopNJCasinos is your source for state revenue reports and for the best N.J. online casino bonuses.
