Sportsbooks in the state of New Jersey have been joined by online offerings as of late, which has helped the overall industry to see a huge increase in wagers and gross revenues for the month of August. According to recent figures, the state saw a wagering increase of 135% last month along with a higher 139% increase in gross revenues.
Almost $100 million Handle:
For August, the handle (wagers) for sportsbooks in the state came in at almost $100 million. The state saw $95.6 million in wagers with the sportsbooks generating just over $9 million in gross revenues. Land-based sportsbooks were the first to launch, followed shortly by online offerings.
The first online site to launch in the state was DraftKings Sportsbook, which launched on August 6th. The site generated close to $3 million for the month. Additional sportsbooks launched online services later in the month, including playMGM and SugarHouse, both starting services on the 22nd of the month.
In total, online sportsbooks generated a $21.7 million handle for August, with the land-based sportsbetting generating $73.9 million.
In a press release…
PlayNJ.com’s lead sports betting analyst, Dustin Gouker, commented on the potential for more growth as the NFL and college football seasons continue. Mr. Gouker stated: “We could see sports betting grow by more than 300 percent in September as NFL and college football ramp up and the number of options for online sports wagering in New Jersey continues to grow.”
New Offerings in September:
As many online sites got started in August, more operators are continuing to join in. Just this week, 888 Holdings announced the launch of mobile sports betting via 888 Sport, the company’s sports betting brand. With the launch, the provider becomes the 7th mobile operator to launch services in the state.