New Jersey & Nevada Sports Betting Handle Tops $1bn in October 2019

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NJ & NV Betting Handle Tops $1bn

In October, sports bettors in New Jersey and Nevada wagered over $1 billion. NJ sports betting handle reached a high-water mark of $487.9 million, representing an 87.2% increase over the previous year. Nevada’s books took $543.9 million over the same period, a 2.9% jump propelled by more enthused wagering on football and baseball. Most betting in NJ was taken in by FanDuel Sportsbook, with over 60% of all mobile betting.

New Jersey posted strong numbers

In May, New Jersey’s sports betting handle surpassed Nevada’s. Since the PASPA federal provisions were overturned in June 2018, New Jersey and other states have seen their performance rise, but not to Nevada’s detriment. Rather than eating into Nevada’s revenue, regional sports betting is contributing more vigorously to the overall handle.

October’s gross revenue report from NJ’s Department of Gaming Enforcement reveals strong numbers for the state’s major casinos, including Borgata Hotel Casino & Spa, Hard Rock Atlantic City, Harrah’s Atlantic City, and Ocean Casino Resort.

Sportbook October Handle
Bally’s Park Place LLC $233,745
Borgata Hotel Casino & Spa $1,846,172
Golden Nugget $536,106
Hard Rock Atlantic City $1,965,348
Harrah’sAtlantic City Operating Company $92,449
Ocean Casino Resort $2,332,763
Resorts Casino Hotel (DGMB Casino LLC) $265,320
Resorts Digital Gaming $10,558,087
Tropicana Casino & Resort $390,244
New Meadowlands Racetrack $24,794,712
Darby Development (Monmouth Park) $2,841,991

Mobile bet percentage is also high in Pennsylvania, and likely to break out as more mobile operators come up in the state.

The total sports betting handle is expected to continue being supported by full mobile states Colorado, Indiana, New Hampshire, Tennessee, and West Virginia. In Illinois however, the requirement for online sports bettors to register in-person at a casino could prove a tad troublesome.

The Silver State still looking good

The strength of online betting in these states did not markedly impact Nevada’s handle, which has ebbed and flowed throughout 2019. Football handle inched 4.5% higher over last year to $355.7 million and represented a whopping 65.4% of the total handle.

Thanks to the World Series, baseball handle grew 11.7% to $83 million, while revenue gained a whopping 40.2% to $11.5 million. Some credit can be reasonably attributed to Jim “Mattress Mack” McIngvale who placed over $10 million in sports bets across the country for a Houston Astros victory in Las Vegas. He used bets made in New Jersey – where he is estimated to have poured at least $5 million – and Mississippi as a hedge against a customer promotion assuring buyers at his Houston stores a full rebate on mattresses over $3,000 in the event of an Astros win.

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