FanDuel was surpassed by New Jersey on the revenue charts for the first time since nearly four years in August.
According to the state’s Division for Gaming Enforcement , New Jersey’s market for sports betting has recovered from its early-summer slump and is now growing monthly in August.
Sportsbooks in the Garden State generated $96m in revenue last month. This is up 47.1% from the previous year when operators earned $65.3m.
This is a 57.4% increase from July’s $61m.
Last month, operators handled $725.8m of bets. The number of NFL bets that were placed on cards and in marketing materials increased ahead the kickoff. The $697.1m was divided into online and retail bets.
Basketball generated $70.6m in bets. Baseball came second with $82.1m. In total, $22.3m was wagered on football.
The operators enjoyed a high hold rate of 13,2% in August, which helped the revenue to jump up to a solid total of $96m.
DraftKings, per operator, was the clear winner, with $56,9m in revenue generated from August trading. This is more than half the total for the state. FanDuel made only $25.7m, despite long-standing market leader in the Garden State.
BetMGM came in third with $4.7m while no other operator earned more than $2.3m.
Sportsbooks made $597.8m this year, an increase of 42.7% on the previous year.
The DGE updated stakeholders about the progress of online casinos, which generated $155.3m of revenue, an increase of 18.1% year-on-year.
Resorts Digital is the leading operator in the Garden State. It took $42.3m last year, just ahead Golden Nugget as well as Borgata which earned $40.8m and $40.2m respectively.
In August, New Jersey’s gaming market generated $531.6m dollars in revenue, a 12.9% increase over the previous year.
