The New Jersey Division of Gaming Enforcement reported $1.1 billion worth of wagers from online and retail sportsbooks in September. That was a massive 56% month-over-month increase from their figures in August. New Jersey sportsbooks saw the handle drop 16.7% year-over-year in September. Despite that, their $119.6 million in revenue is the second-highest total all-time for the state.
This was also New Jersey’s first $1 billion monthly handle since April 2024. The Garden State’s September revenue was only second to the $170.8 million in January. That was a 7.6% year-over-year and 90% month-over-month increase. Year-to-date revenue is now over $835 million. Retail sportsbooks had an impressive 13.8% hold from $58.5 million worth of wagers. Online sportsbooks accounted for $111.5 million worth of wagers in September.
NFL and college football helped sportsbooks improve their figures
Starting in September 2023, New Jersey sportsbooks saw seven consecutive months with at least a $1 billion handle. That’s thanks to the NFL and college football kickstarting those numbers in September. The Garden State could be headed toward a similar run in 2024. In September, the NFL and college football generated $405.7 million worth of wagers and $16 million in revenue. Operators combined for a minuscule 4% hold in September from football. New Jersey sportsbooks collected $85.4 million worth of revenue off parlays from a $352.7 handle.
What New Jersey sportsbooks saw the most profit in September?
FanDuel’s online sportsbooks claimed $48.8 million worth of revenue in September. That was double their figures from the previous month. DraftKings was in second place with $38.6 million worth of wagers. The online operator is now over $200 million in profits for 2024. BetMGM saw its revenue jump from $5.4 million in August to $7.8 million in September.
The sportsbook is now approaching $50 million in revenue for 2024. Coming in at fourth place was bet365 with $4.8 million in revenue. Caesars Sportsbook was now far behind with $4.2 million in profit. ESPN BET saw $2.5 million in revenue while Fanatiics had $2.46 million. BetRivers and Hard Rock also had over $1 million in profits for September.
