{"id":94780,"date":"2018-12-14T04:45:32","date_gmt":"2018-12-14T12:45:32","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=94780"},"modified":"2018-12-14T05:06:29","modified_gmt":"2018-12-14T13:06:29","slug":"new-jersey-sports-betting-handle-likely-smashed-1-billion-mark","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/","title":{"rendered":"New Jersey Sports Betting Handle Likely Smashed Billion-Dollar Mark Sometime Last Week"},"content":{"rendered":"

The New Jersey sports betting market was approaching $1 billion in bets after just five and a half months of operation, as of December 1. That means it is very likely to have already exceeded the 10-figure mark — and no one even got to bang a gong.<\/p>\n

\"New
Fine Lines: DraftKings and FanDuel continue to dominate the New Jersey sports betting market, which grew again in November, with online betting a key driver. (Image: MGN)<\/figcaption><\/figure>\n

According to new figures released by the New Jersey Division of Gaming Enforcement (DGE), November was another booming month for the emerging market. Gamblers wagered $330.7 million at the state\u2019s land-based sports books at racetracks and casinos and online.<\/p>\n

The total figure for New Jersey\u2019s betting handle stood at $928.million at the end of last month, which means it likely hit $1 billion around December 7.<\/p>\n

Pump Up the Volume<\/strong><\/h2>\n

November\u2019s figures represent 21 percent increase on the previous month for $21.2 million in gross gaming revenue — or the \u201cwin\u201d for the operator, once winners had been paid.<\/p>\n

That returns GGR back to growth after a string of customer-friendly football results led to a dip in October. The best month for the sports books in terms of win is still September\u2019s $24 million.<\/p>\n

\n

But while win fluctuates month to month, the good news for the market is that betting volume has risen each month since its mid-June inception.<\/p>\n<\/div>\n

Online continues to be a key market driver, generating $14.4 million\u00a0GGR in November, almost 68 percent of the total haul. DraftKings is dominating the online market with almost $7 million in GGR in November to old foe FanDuel\u2019s $4.4 million, while FanDuel is dominating the land-based retail market, bringing in $2.6 million at its sports book at Meadowlands Racetrack.<\/p>\n

DraftKings, FanDuel Killing It<\/strong><\/h2>\n

Together, DraftKings<\/a> and FanDuel had a share of around two-thirds of the market in November, as they leverage their brand recognition and existing DFS player databases. FanDuel\u2019s land-based dominance comes from its location at the Meadowlands, which is a stone\u2019s throw from the MetLife stadium and affords unrivalled access to the New York market.<\/p>\n

FanDuel owner PaddyPower Betfair said recently that the Meadowlands sports book had quickly become one of the biggest retail betting outlets in the world.<\/p>\n

November was a history making month for the FanDuel Sportsbook,\u201d said FanDuel Group spokesman Kevin Hennessey in an official statement. \u201cWe doubled revenue versus October and we were the first legal sports betting operator in the United States to pay out future wagers early<\/a> on Alabama winning the college football national championship.\u201d<\/p><\/blockquote>\n

DraftKings’ senior director of digital sportsbook\u00a0Jamie Shea said since August his company had taken more than 8 million bets and paid out $250 million to sports fans. He added that the new DraftKings sports book at Resorts — the company\u2019s first ever land-based outlet had — a strong first month.<\/p>\n","protected":false},"excerpt":{"rendered":"

The New Jersey sports betting market was approaching $1 billion in bets after just five and a half months of operation, as of December 1. That means it is very likely to have already exceeded the 10-figure mark — and no one even got to bang a gong. According to new figures released by the […]<\/p>\n","protected":false},"author":36,"featured_media":94781,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,19,18,20,1074],"tags":[],"acf":[],"yoast_head":"\nNew Jersey Sports Betting Handle Likely Smashed $1 Billion Mark<\/title>\n<meta name=\"description\" content=\"New Jersey sports betting continues to go from strength to strength with handle and gross gaming revenues rising in November on the previous month.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Jersey Sports Betting Handle Likely Smashed $1 Billion Mark\" \/>\n<meta property=\"og:description\" content=\"New Jersey sports betting continues to go from strength to strength with handle and gross gaming revenues rising in November on the previous month.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-14T12:45:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-12-14T13:06:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/12\/nj-sports.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/\",\"url\":\"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/\",\"name\":\"New Jersey Sports Betting Handle Likely Smashed $1 Billion Mark\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/12\/nj-sports.jpg\",\"datePublished\":\"2018-12-14T12:45:32+00:00\",\"dateModified\":\"2018-12-14T13:06:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"New Jersey sports betting continues to go from strength to strength with handle and gross gaming revenues rising in November on the previous month.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-sports-betting-handle-likely-smashed-1-billion-mark\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/12\/nj-sports.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/12\/nj-sports.jpg\",\"width\":1280,\"height\":960,\"caption\":\"Fine Lines: DraftKings and FanDuel continue to dominate the New Jersey sports betting market, which grew again in November, with online betting a key driver. 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