Connect with us
SOFTSWISS

Gambling in the USA

New Jersey sportsbooks, online casinos turn September into a month of milestones

Published

on

New Jersey sportsbooks, online casinos turn September into a month of milestones
Reading Time: 4 minutes

 

The first month of the NFL season propelled New Jersey’s online and retail sportsbooks to a record handle and win in September and past $4 billion in bets since the industry launched in June 2018, according to PlayNJ.com analysts.

“New Jersey more than doubled its handle from September 2018, which is staggering growth,” said Dusin Gouker, lead analyst at PlayNJ.com. “After such an impressive debut, the question now becomes how much room is there to grow? The upward trajectory will continue, it is just a matter of how steep the growth will be.”

In September, bettors made $445.6 million in wagers through New Jersey sportsbooks, a 142% jump from $183.9 million in September 2018, according to official reporting released Tuesday. Those bets yielded a record $37.9 million in revenue, up 59% from $23.9 million in September 2018 and breaking the record $31.7 million set in March. September’s revenue injected $4.5 million into state coffers.

New Jersey reached a number of milestones in September, including:

  • $4.2 billion in lifetime handle
  • $284.8 million in lifetime sports betting revenue
  • $33.5 million in tax revenue collected

In addition, September’s handle bested New Jersey’s previous record of $385.3 million set in January. But as good as September was for New Jersey, its handle is still likely to be shy of Nevada’s, which generated $571 million in September 2018. If so, it will break a string of two consecutive months that New Jersey posted the country’s largest handle.

“Football betting is massive in Nevada, so it won’t be shocking if New Jersey doesn’t overtake the Silver State in September,” Gouker said. “But what September did show us it that football betting is still an overwhelmingly powerful force in New Jersey, and that will help it keep pace.”

$374.3 million in bets were made online in September, accounting for 84% of New Jersey’s handle. That is down from 85% in August.

FanDuel Sportsbook/PointsBet remains the online market leader, gaining $13.3 million in gross revenue, up from $9.3 million in August. Still driven primarily by DraftKings in September, Resorts license generated $10.7 million, up from $6.7 million in August. But Resorts, which after the launch of Fox Bet on Sept. 13, is now anchored by two of the most recognizable brand names in sports betting. The online market leaders were followed by:

  • Monmouth/William Hill/Sugarhouse ($2.4 million, up from $1.4 million in August)
  • Ocean Casino/William Hill ($1.3 million, up from $915,129)
  • BetMGM/Borgata ($721,801, up from $261,312)
  • Caesars Sportsbook/888sport ($486,668, up from $340,832)
  • Golden Nugget/BetAmerica ($336,740, up from $181,427)
  • Hard Rock/Bet365/Unibet ($178,255, up from $106,487)
  • Tropicana/William Hill ($29,783, down from $39,638)

Earlier this month, FanDuel owner Flutter Entertainment PLC agreed to buy Stars Group Inc., which operates Fox Bet as a joint venture with Fox Sports. Though the brands will likely remain separate, the merger will create a behemoth in online sports betting.

“The launch of Fox Bet adds another instantly recognizable brand name to New Jersey, and it could eventually challenge the DraftKings and FanDuel brands,” Gouker said. “In the end, though, the merger puts the company that owns both FanDuel and Fox Bet in position to be the big winner.”

FanDuel Sportsbook at The Meadowlands posted $3.6 million in September gross revenue, up from $2.6 million in August, to lead retail sportsbooks. FanDuel was followed in gross revenue by:

  • Ocean Casino ($1.8 million, up from $353,832 in August)
  • Monmouth Park ($996,844, up from $697,075)
  • Borgata ($756,416, up from $669,669)
  • Resorts AC ($340,117, down from $527,158)
  • Bally’s AC ($241,703, down from $278,169)
  • Hard Rock AC ($231,150, up from $182,995)
  • Tropicana Casino ($170,792, down from $284,335)
  • Golden Nugget ($150,698, down from $263,030)
  • Harrah’s AC ($118,102, down from $155,715)

Online casinos surpass $300 million in annual revenue for the first time

Another record month in September pushed New Jersey’s online casino and poker industry past the $300 million annual revenue mark for the first time. In September, online casino games and poker generated $41.14 million, up 59% from $25.8 million in September 2018, and edging the $41.1 million gained in August.

The industry has now generated $339 million through the first nine months of the year, easily outpacing the $298.7 million full-year record set in 2018.

With three months to go before the end of the year, online casino games and poker are on pace to surpass $450 million in annual revenue, which would be a 50% gain over 2018.

“The emergence of sports betting over the last year has lifted online casinos more than most would have guessed,” said Eric Ramsey, online gambling analyst for PlayNJ.com. “New Jersey online sportsbooks and online casinos have been aggressive in cross-marketing to sports bettors and casino gamblers, which has benefited the bottom line of both.”

Some other important online casino and poker data from the September report:

  • Online casinos generated $6.2 million in tax revenue in September and has now injected $237.3 million into government coffers since launch in November 2013.
  • The Golden Nugget generated $15.6 million in September, up from $15 million in August, to easily pace the market. Resorts Digital was second with $8.9 million, up from $7.5 million in August.
  • The industry generated $1.4 million per day during the 30 days of September, up from $858,415 per day in September 2018.
  • Online casino games generated $39.5 million in September, up from $39.4 million in August. Online poker hit $1.6 million, down from $1.7 million in August.

For more information and analysis on regulated sports betting and online gaming in New Jersey, visit PlayNJ.com/news.

 

The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

Continue Reading
Advertisement




Prague Gaming & TECH Summit 2024

Gambling in the USA

Gaming Americas Weekly Roundup – March 18-24

Published

on

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

DraftKings unveiled My Stat Sheet, a gaming tool that gives players the ability to assess, track and interact with their personal stats through intuitive charts and information that will help empower players to make data-driven decisions on their own play and therefore promote responsible gaming. This new feature is now available across all DraftKings and Golden Nugget products.

Jackpocket announced the release of Super Pick, a new app feature that streamlines the lottery experience for Mega Millions and Powerball fans, offering an even more convenient way to participate as combined jackpots soar past $1.3 billion. Jackpocket’s new Super Pick feature gives users an easy way to pick every special and standard ball in the game with just one tap.

The Senate Tax Committee advanced legislation authored by Senator Matt Klein to legalise Sports Betting in Minnesota. This was the second time the bill has been heard in Taxes, after making a stop last year. The hearing focused on changes to tax rates and revenue disbursements.

The Arizona Department of Gaming announced that it has allocated an event wagering operator license to Fanatics Betting and Gaming as the designee for Tonto Apache Sports Betting, an organisation of the Tonto Apache Tribe, pursuant to A.R.S. § 5-1304 and A.A.C. R19-4-105 and 106.

The Massachusetts Gaming Commission reported that the month of February 2024 at Plainridge Park Casino, MGM Springfield and Encore Boston Harbor generated approximately $100.57 million in Gross Gaming Revenue. Additionally, approximately $52.55 million in taxable sports wagering revenue was generated across the eight mobile/online sports wagering licensees and the three in-person licensees for the month of February.

Rebet, a new free-to-play social sportsbook, announced its official launch. The Rebet App, which is now available for download in the App Store across 47 U.S. states, is set to revolutionise the sports betting experience with first-of-its-kind features including an entire social sportsbook, peer-to-peer contests and dynamic user social feeds.

Partnerships

SPARKET announced an expanded partnership with the World Jai Alai League, solidifying their commitment to enhancing the fan experience and driving growth in the world of Jai Alai. Following the successful implementation of SPARKET’s innovative platform within the league, both entities have decided to deepen their collaboration. This strategic move aims to further revolutionise how fans interact with and enjoy Jai Alai, leveraging cutting-edge technology to increase engagement from at-home viewers.

Bragg Gaming Group announced the launch of a custom slot game developed for Caesars Digital, Boardwalk Slots Bankers & Cash, now exclusively live on Caesars Palace Online Casino and Caesars Sportsbook & Casino in Michigan and New Jersey. The bespoke release takes proven game features and artwork from Bragg’s popular slot title Bankers & Cash and combines it with the evocative Boardwalk Slots brand owned by Caesars Digital.

International Game Technology announced that its IGT PlayDigital iGaming content library is now available in Rhode Island via the Bally Casino Rhode Island app and on BallyCasino.com. This milestone content deployment makes IGT PlayDigital one of only two suppliers to offer content in all seven U.S. online gaming jurisdictions.

Continue Reading

Gambling in the USA

Gaming Americas Weekly Roundup – March 11-17

Published

on

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Scientific Games announced the consolidation of its legal and public policy teams into a new unified department, Global Legal and Public Policy. This team will be led by James D. Schultz who will assume the new title of Executive Vice President, Global Legal and Public Policy. Deputy General Counsel Phil Bauer, an indispensable 25-year veteran of the company, will be promoted to General Counsel and Corporate Secretary, and report to Schultz.

Sportradar Group AG announced that the North Carolina State Lottery Commission has granted Sportradar’s U.S. betting subsidiary, Sportradar Solutions LLC, a Supplier license in the state North Carolina. This license is valid for five years from its date of issuance on February 28.

The Office of Lottery and Gaming (OLG) announced that FanDuel is the new sports wagering subcontractor for Intralot Inc., OLG’s lottery and sports wagering system vendor. Under this agreement, residents of Washington, D.C. will gain access to FanDuel’s sports wagering app, which is the market leader nationally, as well as its website and retail platforms.

Elys BMG Group Inc. announced that Grand Central Sportsbook in Washington D.C. (Grand Central) has been granted provisional approval to open its H Street sportsbook by the DC Office of Lottery and Gaming, Regulation and Oversight Division.

BetMGM has officially launched its mobile sports betting service in North Carolina, giving customers in the Tar Heel state access to a wide variety of betting options as well as the opportunity to earn experiences at MGM Resorts’ properties nationwide.

Supremeland Gaming announced the approval of an interim Supplier License in West Virginia, further solidifying its position as a key player in the rapidly expanding iGaming industry. This milestone marks the company’s third approval following the successful acquisition of the first approvals in Pennsylvania and New Jersey.

Partnerships

Caesars Entertainment and National Hockey League (NHL) announced a renewal of their US partnership. The new, multiyear partnership extension retains Caesars’ status as a Sports Betting and Gaming Partner of the NHL and, for the first time, provides Caesars Digital with access to League-owned intellectual property to build and promote NHL-branded iCasino games for its online casino platforms in North America, including the recently launched Caesars Palace Online Casino.

SCCG Management announced the extension and significant expansion of its strategic partnership with SnapOdds, the revolutionary sports betting technology product from Snapscreen Inc. This expansion marks a pivotal shift towards a consumer-facing (B2C) strategy, leveraging SnapOdds’ unique TV and streaming content recognition software.

Hip-Hop icon Nas has partnered with Resorts World New York City on a $5 billion expansion plan for a casino in Queens. The vision of Aqueduct Park is to transform the casino in Nas’ hometown, into a full-fledged establishment that mirrors the company’s properties in Las Vegas.

SCCG Management, the leading advisory and management consultancy in the global gaming industry, headquartered in Las Vegas, announced the extension of its partnership with IDnow, a premier European provider of identity verification solutions. This strategic alliance is placing a focused effort on expanding its reach to encompass the broader Latin America (LATAM) region.

Continue Reading

Gambling in the USA

Gaming Americas Weekly Roundup – March 4-10

Published

on

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

NJ Attorney General Matthew J. Platkin announced the retirement of David L. Rebuck after serving 13 years as the Director of the Division of Gaming Enforcement (DGE), making him the longest-serving director in DGE’s history. In total, Director Rebuck is retiring with 36 years of service to the State.

Altenar’s status as a leading sportsbook provider in South America has been further boosted with the opening of a new office in Uruguay. The new hub, located in Costa Rica Street 1667, in Carrasco, Montevideo, will be the base for around 15 members of staff and strengthen the company’s support for iGaming operators in the LatAm region.

MGM Resorts International and BetMGM announced new groundbreaking initiatives in collaboration with Kindbridge designed to support problem gambling research and mental health services. Kindbridge Research Institute and Kindbridge Behavioural Health are organisations that aim to better understand the problems that exist within at-risk communities, delivering evidence-based treatment for gambling disorder.

Elray Resources has launched Kings of Sport, a state-of-the art online crypto casino that brings together the world of cryptocurrencies with the excitement of traditional casino games. Kings of Sport is expanding player options in the online gambling industry by providing users with a diverse selection of classic and modern casino games that can be played using popular cryptocurrencies like Bitcoin, Ethereum and others.

Supremeland Gaming, the new American iGaming challenger, announced its U.S. expansion, attaining a second gaming approval in the US, three weeks after its inaugural licensing announcement in neighbouring Pennsylvania. The New Jersey approval will allow Supremeland Gaming to build and release games in the Garden State through its partnership with EveryMatrix.

Churchill Downs Incorporated announced that Exacta Systems has completed the installation of 175 Exacta-technology driven terminals at The Brook in Seabrook, New Hampshire. Exacta, acquired by CDI in August 2023, is a leading provider of central determinate system technology for historical racing machines (HRMs). The Brook is a casino entertainment destination located in the easternmost part of the state next to the Massachusetts border.

Underdog announced an investment in idPair by GuardDog, Underdog’s responsible gaming innovation fund. idPair’s proprietary technology creates a centralised view of an individual’s play and gambling activity across all applications and operators in a jurisdiction for regulators, providing for universal responsible gaming limits.

Partnerships

Betfred USA and U.S. Integrity announced a partnership that will provide Betfred with monitoring software and tools that will play a pivotal role in preventing student-athletes, coaches and staff from engaging in prohibited sports wagering.

SCCG Management announced its sponsorship of the 10th Arnold South America Sports Festival in São Paulo, Brazil. This year’s festival, scheduled for April 5-7, 2024, will feature the Pillow Fight Championship (PFC) as its centrepiece, showcasing the thrilling world of professional pillow fighting in South America.

5WPR announced that it has been selected as the public relations Agency of Record for casino and sportsbook platform provider, Soft2Bet, which, after successfully growing its business throughout Europe, is launching in the US, targeting NJ as the first state where it will debut its offering.

Continue Reading

Trending

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.