New Jersey is continuing to drive profits from the legal sports betting industry.
The Garden State generated $521.5 million in total gaming revenue in September — a 7.5% increase year-over-year, according to the New Jersey Division of Gaming Enforcement. The favorable results in New Jersey included casinos, racetracks, and sports betting operators.
New Jersey sports betting showcased its viability as a market after it became the first state to surpass $40 billion in wagers following wagering outside of Nevada being authorized in 2018.
The Garden State reported $111.1 million in sports betting revenue in September 2023, up from $98 million for the same month a year prior. New Jersey posted the increase in revenue in September behind a $1.29 billion sports betting handle for the month. The handle saw online betting sites take in $1.25 billion in bets while retail sportsbooks finished with a $43.5 million handle.
New Jersey benefited from the start of the NFL season to boost revenue throughout September. The state has 17 licensed sportsbooks, including FanDuel, DraftKings, BetMGM, and Caesars.
On the rise
Last month, the DGE — in collaboration with Rutgers University researchers — released a report examining the prevalence of gambling in New Jersey. The study, which is the second report the state has released since 2018, discovered that the use of online and brick-and-mortar sportsbooks in New Jersey has increased by 19%. The DGE and Rutgers researchers surveyed 3,512 New Jersey residents on a variety of topics including sports betting, slots, and poker.
Providing resources
New Jersey has been proactive in protecting sports bettors across the state. In June, the DGE and Attorney General Matthew J. Platkin introduced new meeting opportunities, a toll-free helpline, and a website for bettors who are looking to remove themselves from wagering.
The state’s willingness to focus on problem gambling comes after the recent appointment of Deputy Attorney General Jamie McKelvey as the DGE’s first responsible gaming coordinator.
In the role, McKelvey will deliver responsible gaming tools and initiatives to bettors in the state.
