September Provides New Jersey Sportsbooks With Third-Best Month Ever

The New Jersey sports betting industry is making some noise again as the Garden State and its best sports betting apps, betting sites, and best sportsbooks attempt to cement the region's standing as the second-best sports betting jurisdiction in America behind juggernaut New York.

After falling behind Illinois in terms of sports wagering activity since the start of 2023, New Jersey reclaimed its place as New York's chief rival in the race to be America's top sports betting state in August. And it looks like that trend has continued in September.

New Jersey sports betting apps and the state's retail providers that offer New Jersey sportsbook promos posted the third-best month ever in September in terms of overall wagering activity, according to the New Jersey Division of Gaming Enforcement. Revenues and tax contributions followed suit.

With September's numbers included, New Jersey sportsbooks became the first to eclipse $40 billion in lifetime sports bets and $3 billion in operator winnings. That speaks to just how strong the market there has been.

New Jersey handle surpasses the $1-billion mark again

New Jersey sports betting apps and retail sportsbooks in the Garden State combined for an impressive $1.29-billion handle in September. It was the third-highest handle ever for the New Jersey sports betting scene and the 12th month that providers there have combined for more than $1 billion in monthly wagers.

$1.29 billion in September is an astounding $564-million month-over-month spike (or 79%) from $725,849,450 in August, and it's a nearly 50% year-over-year increase from the $866,719,412 September 2022 New Jersey handle.

New Jersey's September sports betting handle nearly reached the record $1.35 billion from January 2022, and the $1.303 billion handle from October 2021.

Unsurprisingly, New Jersey sports betting apps were responsible for $1.25 billion of the state's September handle, with retail contributing $43.5 million.

September revenues second-best ever

Sports betting revenue for New Jersey's best sportsbooks came in at $111.1 million in September. It was the second-highest monthly revenue for the Garden State. Only November 2021 with its $114.8 million in profits was reported as better than September’s take.

Revenues could have been higher if not for the 8.6% hold for state sportsbooks. September represented the first time since April that the hold rate for Garden State sports betting operators was under 10%.

The $111.1 million is up month-over-month from $96 million in August and is ahead of the September 2022 revenue haul of $98 million.

New Jersey sportsbooks paid $14.2 million in taxes during September. 

DraftKings produces another big month

Resorts Digital and its alignment with DraftKings has been paying off significantly in the New Jersey sports betting app market.

DraftKings New Jersey made an impressive $56.9 million in revenue during August and almost duplicated that in September with over $49 million in profits. The company had never hit the $30-million mark in monthly revenue in New Jersey prior to the last two months.

The Meadowlands Racetrack partnership, which consists of FanDuel, PointsBet, and SuperBook, reported just over $32 million in profits for the month, far below Resorts Digital.