December 14, 2020 Sports Betting, Casino, Technology, Online

New Jersey sportsbooks hit record handle of $932m for November

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New Jersey sportsbooks set a new handle record by generating handle of $932m for November according to figures released by the state's Division of Gaming Enforcement.

The November handle smashes the Garden State’s previous record of $803m set in October. November marks the fourth consecutive month New Jersey has set a national handle record.

Revenue for the month was $50.6m, down from $58.5m in October. New Jersey earned $6.2m in state taxes.

November handle grew by 66% year-on-year, while revenue was up 54%.

The FanDuel Sportsbook at Meadowlands Racetrack paced the way with revenue of $24.8m, well above second place Resorts Digital/DraftKings at $14.6m.

Ocean Casino/William Hill was a distant third, earning $3.6m, Monmouth/William Hill/Sugarhouse/TheScore ($1.9m) and BetMGM/Borgata ($1.3m) rounded out the top five.

Online betting accounted for $872m, or 94%, of the monthly handle. In an encouraging sign for Atlantic City, retail sportsbook handle improved slightly from October to November, reaching $59.5m, a $300,000 increase.

New Jersey casinos have been operating with limited capacity and recently were forced to close indoor dining from 10:00 p.m. to 5:00 a.m.

Online casino games generated revenue of $89.4m, an increase of 88% y-o-y, while online poker earned $2.4m, down slightly from October.

The Golden Nugget maintained its usual dominance of online games, earning $26m. Borgata’s online entity brought in $23.4m while Resorts Digital Gaming finished third with $21m.

December is poised to be another prolific month for New Jersey sportsbooks with the conclusive weeks of the NFL and college football regular seasons merging with the arrival of the NBA’s 2020-21 season.

Online casino and poker games could benefit from enhanced stay-at-home orders across the Garden State.

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