The November revenue figures for New Jersey are in.
Key takeaways:
- Online gambling revenue up 23.9% to $146.2 million
- Sports betting inflows down 29.9% from $114 million to $80.4 million
New Jersey online gambling continued on an upward trend in November. The latest figures show that online gambling inflows increased by 23.9% from the same time last to close the month at $146.2 million. The top operator in this category is BetMGM-owned Borgata Online, which drew in $44.3 million.
Sports betting down 29.9%
The picture wasn’t as rosy for sportsbook operators. The sector posted only $80.4 million, 29.9% less than the $114 million reported in November last year.
The sharp decline in gaming revenue can be attributed to a broad lack of interest by New Jersey bettors. Players spent $1.03 billion on mobile betting and $69 million at retail sites. In November 2021, these figures were 14.7% higher.
Overall Performance
Overall, November gambling revenue in New Jersey topped just over $441.1 million. This is a modest 1% over October inflows. Besides the online gambling revenue, which had a marked increase, land-based gambling also recorded higher inflows. YoY, November land-based gambling recorded a 3.7% increase to $214.5 million.
As 2023 comes in, it will be interesting to see if sports betting gambling revenue increases in New Jersey as interest returns.
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