NJ Sportsbooks Record $1.1 Billion in November Wagers

12/22/2022
News
Online Casino New Jersey

Highlights

  • With November's record of $1.1 billion, the year-to-date is slowly hitting $10 billion in the yearly handle.
  • November stands as one of the four betting months in 2022 to exceed $1 billion in 2022.
  • NJ online casinos may be close to hitting monthly revenue of $150 million

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.

More on NJ Sportsbook Revenue

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.

NJ Sports Betting Handle for November Ranks Number 3 for 2022

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)

With October’s $147.2 Million in Revenue: NJ Online Casinos Chasing $150 Million?

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.

Significant NJ Sports Betting and Casino Takeaways from November 2022

  • 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.

Damilola Esebame is a casino, sports, iGaming, and sports betting enthusiast with a general passion for content writing. He’s a sports journalist that channels his enthusiasm through writing unique sports content. With a significant level of experience in Search Engine Optimization, Copywriting, and Website Content writing, he finds himself spending most of his time behind his screen. Apart from writing sports content, he’s had over seven years of experience in technical, finance, and medical content writing. He’s also a certified Google Analyst (Google Analytics Individual Qualification). When he’s not working, Damilola enjoys playing tennis, football, and swimming. His watch-words are honesty, trust, and transparency. He displays these qualities in his in-depth casino or sportsbook reviews and other related online content.