Record Numbers in August for New Jersey and Pennsylvania Sports Betting

Boosted by increased online betting, both New Jersey and neighboring Pennsylvania posted terrific revenue numbers for the month of August.

In New Jersey, the August totals were up 13% from the year before as the state readies itself for the start of the lucrative football season.

For Pennsylvania, their total take for August crossed $100 million dollars for the first time in the state’s history as sportsbooks enjoyed their first full month with online betting.

How Much Did New Jersey Sportsbooks Make in August?

New Jersey sportsbooks posted a handle of $293 million in sports bet for the month of August.

That eye-opening handle number was buoyed by the fact that the casinos in the state posted winnings of over $339 million for the month.

The Atlantic City casino industry has been revitalized by sports betting in the state with places like the Borgata Casino posting their best summer numbers since they opened in 2003.

The Borgata reported a winning total in August of close to $80 million dollars in all gaming, up 4.7% from the same time period last year.

Two of the newer casinos in New Jersey, the Hard Rock Casino and Hotel and the Ocean casino were also huge winners for the month.

The Ocean casino posted their best month ever winning over $25 million total, with $1.2 million coming from sports bettors in August.

The Hard Rock maintained their second-place ranking for the state with $41 million in winnings for the month, a boost of close to 31% over last year.

James Plousis, chairman of the New Jersey Casino Control Commission told the Associated Press, “These results show there is a great deal of customer interest in Atlantic City’s offerings.”

Source: finance.yahoo.com

The biggest sports betting winner in New Jersey continues to be the Meadowlands Racetrack site in East Rutherford as the FanDuel-run sportsbook brought in close to $12 million in total revenue, up from $3 million in August of 2018.

The August numbers for New Jersey are encouraging for the start of the football season as many experts anticipate that the state will hit over $4 billion in bets, a staggering mark considering that the state has only been open for betting less than 16 months total.

Why Did Pennsylvania See Such High Revenue Figures in August?

In their first full month offering sports betting online, sportsbooks in Pennsylvania witnessed a betting handle of more than $100 million for the first time in the state’s history.

The total of $109 million was a whopping 84% increase in handle for the sportsbooks over the $59.3 million brought in last August.

Leading the way for the state’s sportsbooks is FanDuel, as the online powerhouse took in over $37.8 million in wagers with a stunning 93.2% off all their bets coming from online devices.

“Having expanded our leadership position across New Jersey and now Pennsylvania, we will continue to bring our top mobile betting platform to the expanding U.S. market,” FanDuel wrote in a statement.

Source: inquirer.com

Although sports betting continues to be a small part of the overall take of Pennsylvania’s casinos, the total revenue of $9.9 million for sportsbooks in the state was up from $5.1 million in July.

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