November figures are out for New Jersey, and what a month!
All charts are available in interactive versions by clicking on them.
Both retail- and online gambling revenue down slightly from October. Back on track to levels seen before the Covid-19 shutdown earlier this year, on a total level but retail casinos still suffering. Online is now really closing in on generating more revenue than the old bricks and mortar casinos (not counting Apr-Jun when they were actually closed).
Total sportsbook handle saw a record month, at $931m. Online accounts for 94% of total handle ($872m). Just a matter of time before we break that magic number $1bn in handle! How come the revenues were down if handle was up this much, one might ask? Well, the simple answer is the operators had less margin in October than November.
Online then. Casino (slots + table games) pretty much flat from October and a slight decrease in Sportsbook revenues due to lower margins as stated above.
There is a lot of talk in the media about sportsbook handle- and revenue. This chart is really interesting to me, as it clearly shows the dominance of the casino product. Unfortunately, unlike for Retail (physical) Casinos; online slots and table games are lumped together in the stats from the DGE so we can't tell from these figures alone the proportion between them.
Poker then? Poker seems to be little more than an add on product and a marketing tool for the operators, barely generating enough revenue to cover costs…
So this online gambling thing might be something, huh? November saw yet another record month in taxes and so far, the Garden State has averaged a monthly tax revenue of a massive $15.1 million, putting yearly estimates for 2020 at almost $200 million from the online gambling industry. No wonder other states are planning to roll out legal, licensed online gambling.
So let's have a look at sportsbook market share in the New Jersey online gambling world. It comes as no surprise New Meadowlands (Fanduel and Pointsbet) is ahead. But as you can see, they are slowly but surely loosing market share to Resorts (DraftKings, BetStars & Resorts). Ocean (William Hill & Tipico) also took an impressive jump in November, seen to previous months! Fanduel needs to step up as they've lost considerable market share recently…
Below is a doughnut chart showing November only.
Just isolating “the big 2” gives a pretty interesting picture, and November more or less meant back to status quo. It'll be interesting to see how this evolves the coming months.
Looking at online casino, it's a closer race. Golden Nugget, licensing titan operator PlaySugarhouse, is still in the lead but dropping in favor of Borgata (Party, BetMGM, Pala and Borgata).
Borgata has made an impressive journey this year and has now surpassed Resorts as number 2 behind Golden Nugget!
Stats and figures are gathered from official sources. The data is visualized and commented by Lars Wahlström, CEO of ARGO Gaming Group. Lars is an iGaming veteran with +15 years in the industry and experience from both the B2B- and B2C- side of the online gambling industry. Full comments and analysis are available in the monthly news posts for each respective state, while this page is a basic resource page.
All resources on this page are free to use under a Creative Commons Attribution 3.0 Unported License. This means it's free to copy, distribute and display as long as you give us credit for it, with a clickable, working link to us (either directly to this page or statesidebets.com).