Gambling in the USA

New Jersey Online Casino Market Heats Up as Sports Betting Takes Off

Published

6 years ago

September 14, 2018

NJ Online Gambling Revenues Decline Month over Month to $45 Million in June, Due to Less Sporting Activity

Reading Time: 2 minutes

Let the games begin, NJ online casinos raked in over $26 million in gross gaming win from casino, poker, bingo, and sports betting in August 2018. There was a small slowdown in online casino revenue in August compared to July as Golden Nugget‘s group of casino operators dropped $1.15 million in gross revenue. The real winner in the market was Draftkings Sportsbook, which sits under Resorts Digital Gaming’s license, as they soared to a whopping $2.97 million in their first month of sports betting operations. A noticeable mention goes out to Hard Rock Online Casino as they saw a steady increase in revenues to generate nearly $500k in their second month of operations.

NJ Online Sports Betting Could Surpass Casino Wagering

Sports betting has the potential to be a real game changer as NJ online sports betting operators gear up and launch their products in peak football season.

The question that remains is how sports will impact casino and poker revenues – as replacement wagering or incremental. So far Sugarhouse Online Casino and Caesars Online Casino are the only operators to offer both casino and sports betting on one website, but they only launched in early September.

For now there is only one month to analyze, and we saw a 4.22% dip in casino and poker revenue from July to August as sports betting went live. However, with increased marketing coming with football season, and a turn to inclement weather in September, will this rising sports betting tide lift all boats? Based on online sports betting revenues in the first month alone, one thing seems clear – people want safe, secure, and legal ways to bet on sports online in America. The tax revenue implications as more States turn to legalization could be substantial.

“Draftkings Sportsbook looks to impress as they have a clear blueprint for success, which they could scale out nationwide,” said BonusSeeker.com Casino Editor, Anirudh Vashishth.

The regulated New Jersey online casinos generated $25.89 million gross revenue in August, up $3.21 million from the previous month.

August 2018 NJ Online Casino Revenue by numbers (in $ millions):

Casino
Golden Nugget	$8.17
Resorts	$3.37
Borgata	$4.22
Caesars	$2.76
Ocean Resort	$0.385
Hard Rock	$0.481
Tropicana	$3.59
Total	$22.99

Poker
Golden Nugget	$0
Resorts	$.651
Borgata	$.440
Caesars	$.725
Ocean Resort	$0
Hard Rock	$0
Tropicana	$0
Total	$1.82

Sports
Golden Nugget	$.103
Resorts	$2.97
Borgata	$.0496
Total	$1.85

Combined
Golden Nugget	$8.273
Resorts	$6.991
Borgata	$4.710
Caesars	$3.49
Ocean Resort	$0.385
Hard Rock	$0.481
Tropicana	$3.59
Total	$26.65

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Source: BonusSeeker.com

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George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.