New Jersey Sportsbetting Wagers Hit $500 Million

This story was published more than 5 years ago.

New Jersey's sportsbetting market continues to grow, as punters wagered $260 million in October, up 40% from the month prior.

The total sees New Jersey having placed $597.4 million in bets since sportsbetting was implemented in June. Online bets were up 67% to $174.4 million, and land based bets totaling $86 million. Operators made less though, raking in $11.7 million in profits.

$5 million online was taken in by Resorts Casino, which hosts the DraftKings and BetStars brands. FanDuel revenue came in at $3.5 million. A company spokesperson for FanDuel said, "October was a great month. Demand for the FanDuel Sportsbook continues to outpace our expectations with online handle 2.5 times higher than September and continued double digit growth in retail handle.

"It was an exciting month for bettors who won at a high rate on football."

Sportsbetting is continuing to grow in the United States, with Pennsylvania working on launching the activity, as is Rhode Island. Other states are in the process of legalizing the activity, which was okayed by a Supreme Court decision earlier this year.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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20 November 2018 - 9:03pm

Yeah, quite a growth in NJ really..40% in just a month you can't see that very often.

I guess there 'd be a similar extension in the upcoming months as well.