Online Gambling and Sports Betting Lead the Growth
New Jersey’s gambling industry reached an impressive milestone in September 2024, as total gambling revenue soared to a record $558.3 million. Based on a report from the NJ Department of Law and Public Safety, this represents a 7.1% increase compared to the same period last year and a 0.6% rise from August. The record-breaking figures are largely driven by the significant growth in iGaming and sports betting, two segments that continue to dominate the state’s gambling landscape.
iGaming Breaks New Records
iGaming was the star performer in September, with revenue surging by 27.1% year-on-year to $208.1 million. This marks a new record for online gambling in New Jersey, driven primarily by online slots and table games. These two segments brought in $205.9 million, up 27.6% from the previous year. Despite this growth, online poker saw a 6.9% decline, generating $2.2 million.
The top iGaming operators in the state remained highly competitive. DraftKings led the market, reporting $45.8 million in revenue, closely followed by FanDuel with $45.3 million. BetMGM secured the third spot, contributing $26 million to the overall iGaming total.
Resorts Casino Tops iGaming Licensees
Resorts Casino Hotel claimed the title of top master licensee for iGaming in September, generating an impressive $52.9 million in revenue. The casino’s strong performance reflects the growing popularity of online gambling platforms under its umbrella, which continue to attract players across the state.
Sports Betting on the Rise
Sports betting also posted strong results for September, generating $119.6 million in revenue, a 7.6% increase from the previous year. This marks nearly double the $62.7 million earned in August, with the start of the NFL season playing a crucial role in the revenue boost.
Mobile betting continues to dominate the sports betting landscape in New Jersey. The total sports betting handle for September reached $1.09 billion, with mobile bets accounting for an overwhelming $1.03 billion. The state’s monthly sports betting hold stood at 11.28%, reflecting steady performance in the sector.
FanDuel led mobile sports betting revenue in September with $48.6 million, followed by DraftKings with $36.6 million and BetMGM with $7.8 million.
Decline in Land-Based Casino Revenue
Despite the robust performance of online gambling and sports betting, land-based casinos in New Jersey faced challenges in September. Revenue from brick-and-mortar casinos fell by 6.5% year-on-year, totaling $230.6 million. Physical slot machines saw a 5.2% decline in revenue, while table games experienced a sharper 10.1% drop. The decline in land-based revenue highlights a growing shift toward digital gambling as more players opt for the convenience of online and mobile platforms.
Year-to-Date Figures Show Strong Growth
Looking at the broader picture, New Jersey’s gambling industry has experienced significant growth throughout 2024. Year-to-date revenue for the state’s gambling sector reached $4.72 billion by the end of September, reflecting a 10.1% increase from the same period in 2023.
iGaming continues to be a key driver of this growth, with online gambling revenue rising by 23.2% year-on-year to $1.73 billion. Sports betting also posted solid gains, with revenue growing by 17.8% to $835.4 million. However, land-based casinos struggled to maintain momentum, with revenue dropping slightly by 0.9% to $2.15 billion for the year.
The Future of New Jersey’s Gambling Industry
The September revenue figures paint a picture of a gambling industry increasingly dominated by online platforms. As mobile betting and iGaming continue to grow, the state’s gambling landscape is shifting toward digital experiences, with land-based casinos facing new challenges.
With the NFL season now in full swing and online gambling continuing its upward trajectory, New Jersey’s gambling sector is poised for continued growth in the coming months. Industry experts predict that the state’s total gambling revenue could surpass current records, as more players turn to digital platforms for their gambling entertainment.
New Jersey remains a key player in the U.S. gambling market, and the trends seen in September suggest that the future of gambling in the state will likely be shaped by the continued expansion of online and mobile gaming options.