October Revenue Figures in Related to Sports Betting and Online Casinos
November 22, 2019
With New Jersey being the first state to offer both online casino and sports betting options, the state will always be viewed in terms of what is possible. That's applicable to other states that are looking to move forward and legalize such gambling options for its residents.
CalvinAyre.com has released its report on the official revenue figures provided by the New Jersey Division of Gaming Enforcement regulator for October. It can now be reported that existing trends continue. The October figures indicate that both sports and online gambling in New Jersey are still experiencing unprecedented growth while poker continues its decline.
Sports Betting Revenue
For the month, the New Jersey Division of Gaming Enforcement regulator reported that sports betting revenues statewide increased to an all-time high of about $45.2 million. That number represents an almost 70% year-over-year increase. Additionally, the October revenue number is $4.1 million higher than the number reported in September.
It's noteworthy that October saw the first full month of NFL and NHL action with the NBA starting regular season play by the middle of the month. This would certainly account for the increased betting activity going through the betting windows in October.
Online Casino Gambling
While New Jersey has a little more history with online casino gambling, the monthly numbers are still producing records. For the month of October, revenue figures indicate that the state has accumulated an amazing ten-month aggregated gross gaming revenues of about $366.5 million. That represents a year-over-year increase of 63.1%. It's worth noting that virtual poker saw a 2% decrease, coming in at $17.7 million for the same ten-month period.
Leading the way was Golden Nugget Atlantic City with its GoldenNuggetCasino.com site that saw October gaming revenues grow to a record $16.6 million. That's a little more than $1.0 million higher than the previous high for any online casino.