In October, FanDuel Earned 70% of all NJ Sportsbook Revenue
There is no argument about the market leader at all in New Jersey, as statistics indicate that FanDuel generated approximately 70% of the state’s sportbetting income in October, despite the national discussion in recent weeks about the dominant player in the sports betting industry.
FanDuel Sportsbook, a sports betting division of FanDuel NJ Online Casino, brought in $64.1 million in revenue last month in NJ, according to figures from the New Jersey Division of Gaming Enforcement. The whole state brought in $92.3 million.
In keeping with September’s numbers, October’s handle of $1.29 billion included $1.24 billion from online gaming. This indicates that there has been a steady interest in NFL betting since the 2023–24 season began. Right now, the YTD handle is $9.06 billion.
With a hold rate of 7.1% last month, operators continued to see dropping hold rates, after months with over 13% in August and 8% in September.
Nonetheless, sales increased by 18.4% YoY to $92.3 million.
Operators in the online casino market brought in $166.8 million last month, a 13.3% YoY gain.
With $49.4 million in revenue, Golden Nugget was the operator’s best performer, followed by Resorts Digital ($46 million). Borgata rounded out the top three with $35 million, a 13% yearly decrease as it lost ground in an industry it previously controlled.
Online casino operators have collected $1.57 billion in revenue so far this year, a 15.1% YoY increase. With land-based casinos contributing $228.1 million, up 3.4% YoY, the gaming market in New Jersey generated $487.1 million in revenue in September, indicating a 9.3% annual increase.
