New Jersey October Online Gambling Revenue New Monthly High

Written By Katarina Vojvodic on November 24, 2022
October gambling revenue for NJ smashes records

The New Jersey gambling industry has reported its total revenue for October.

The New Jersey Division of Gaming Enforcement (DGE) has revealed total gaming revenue of $445.7 million. It is a 0.7% decrease year-over-year (YoY) compared to October 2021’s $ 448.7 million.

The state’s total gaming revenue currently stands at $4.32 billion, which is a 10.8% increase YoY compared to the $3.89 billion generated last year.

What’s more, New Jersey joins Pennsylvania as the first state to produce $1 billion in annual online gambling gross revenue.

New Jersey gambling sets casino and sports betting records in October

Generating $220.6 million, both casino and sports betting gross revenue saw a 7% decline, compared to the $237.5 million in revenue from October 2021.

However, online gaming grew by almost 16%. The Division of Gaming Enforcement reported an online casino revenue of $147.2 million for October, beating the previous $140.6 million record set in March 2022.

The figure was 8.8% higher than the $135.2 million generated last month and 15.9% higher than the October 2021 total of $127 million.

Sports betting revenue for October was $77.9 million, a 7.4% decrease compared to $84.2m generated in October 2021. Year-to-date sports betting income equals $594.8 million, a 7.3% decrease from last year’s $641.9m.

NJ casino operators hit $1.3 billion in sports bets in October

New Jersey sports betting handle for October stands at $1.06 billion, gaining $987.6 million from online casino operators and $72.55m from retail casino venues.

Online and retail operators set another US record by hitting $1.3 billion in sports bets in October. This number surpassed September’s previous record of $1.01 billion by 28.9%.

In total, New Jersey sportsbook operators won $84.2 million in October, a 43.8% up from last year’s $58.5 million. While producing $12.7 million in state taxes, October’s revenue beat the previous record of $82.6 million set in January 2022.

FanDuel, PointsBet and SuperBook continued to lead the New Jersey online gambling market, generating $39.6 million in gross revenue. The figure is slightly higher than the $36.6m made in September.

October was also a good month for the smaller licenses that managed to expand their services:

  • Ocean increased by 33.0%
  • Bally’s gained 22.2%
  • Tropicana was up 20.0%

Borgata/BetMGM blew the market again with $38.3 million (2020: $22m) in gross gaming revenue during the month. Golden Nugget is next with $34.4m (2020: $28.1m), and Resorts follows with $29.2m (2020: $21.6m).

Photo by PlayUSA
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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