NJ Sportsbooks Record $1.1 Billion in November Wagers

For November, NJ’s sports betting handle was $1.1 billion, which makes it the second highest for 2022. The New Jersey Division of Gaming Enforcement (DGE) published the monthly figures for November in the early hours of Friday, December 16, 2022. The DGE report for November makes it the 6th time that sportsbooks got that amount in total accepted wagers.

The Garden State appears to be on pace to pass $10 Billion in the yearly handle when the December numbers get released. Currently, the year-to-date total is under $9.9 Billion.

NJ sportsbooks made $80.4 million in revenue, which is down approximately 30 percent from the same period in the previous year. Even with the major drop, the total isn’t good enough for the second spot through the first 11 months of 2022. September’s $98 million holds a major spot for the year.

We Can’t Ignore NJ’s Online Casino Revenue 

November’s total came in at $146.2 million, which was close to October’s $147.2 million in revenue. The last revenue report makes it the third time in NJ’s online gambling history for nine years that the monthly total reached at least $140 million. Interestingly, all three of those times came in 2022. There was a 23.9 percent increase over November 2021 in monthly online casino revenue.

With $1.1 billion in total accepted bets in November, NJ sports betting seems close to cracking the all-time top five. However, it may take some time before the Garden State is able to reach that milestone. This is because New Jersey is getting affected by New York’s significant sports betting market.

On the bright side, the NJ sports betting handle passed the $1 billion mark for the fourth time in 2022. December reports are not out yet, but it's likely that the month gives the same report on sports betting. The first betting month was January with $1.35 billion in accepted wagers and the other top three months are (in no specific order):

• March ($1.12 billion)
• October ($1.06 billion)
• November ($1.1 billion)

The $150 million in revenue for New Jersey online casinos is within reach, but that may be towards the peak. New Jersey casinos make up one of the most legal online casino markets in the U.S. industry.

Hitting $150 million will be a good record for NJ online casinos, but their current $147 million has a good look on rankings. Without a doubt, the online casino sector is still a major tax revenue generator as the year-to-date revenue total is at $1.5 billion with a tendency to increase. In taxes, that's approximately $226.6 million.

• Resorts Digital retains its position as the AC market leader accounting for close to $16.6 million of Atlantic City total with only Fox Bet and DraftKings sportsbook.
• BetMGM and Borgata were the only significant AC revenue producers, recording $7.7 million for the month.
• Borgata ($44.3 million), Golden Nugget Atlantic City ($37.7 million), and Resorts Digital ($37.4 million) remain the biggest three in market share.
• With Ocean's Casino Resort's four skins, including the new PlayStar Casino the license holder is getting a 109.7% year-over-year increase in monthly total.