{"id":31381,"date":"2020-12-14T15:34:00","date_gmt":"2020-12-14T15:34:00","guid":{"rendered":"https:\/\/wordpress2.hdnweb.com\/2020\/12\/14\/huge-november-for-new-jersey-sportsbooks-puts-first-1-billion-month-in-sight-according-to-playnj\/"},"modified":"2020-12-14T15:34:00","modified_gmt":"2020-12-14T15:34:00","slug":"huge-november-for-new-jersey-sportsbooks-puts-first-1-billion-month-in-sight-according-to-playnj","status":"publish","type":"post","link":"https:\/\/wordpress2.hdnweb.com\/en\/2020\/12\/14\/huge-november-for-new-jersey-sportsbooks-puts-first-1-billion-month-in-sight-according-to-playnj\/","title":{"rendered":"Huge November for New Jersey Sportsbooks Puts First $1 Billion Month in Sight, According to PlayNJ"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">ATLANTIC CITY, N.J.<\/span>, <span class=\"xn-chron\">Dec. 14, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0New Jersey became the first state in history to post a legal sports betting handle of more than <span class=\"xn-money\">$900 million<\/span>, as the Garden State&#8217;s online and retail sportsbooks put the first <span class=\"xn-money\">$1 billion<\/span> month clearly in their sights in November, according to analysts for <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3012567-1&amp;h=3934296377&amp;u=http%3A%2F%2Fwww.playnj.com%2F&amp;a=PlayNJ\" rel=\"nofollow\">PlayNJ<\/a>.<\/p>\n<p>&#8220;Even if New Jersey can&#8217;t quite reach <span class=\"xn-money\">$1 billion<\/span> in a month before the end of the NFL season, the mere possibility so soon after the industry launched in 2018 would have been close to inconceivable until just a few months ago,&#8221; said <span class=\"xn-person\">Dustin Gouker<\/span>, lead analyst for PlayNJ.com. &#8220;The restart of the U.S. sports world after the shutdowns of spring and early summer has fueled online sports betting in ways that would have been hard to predict before this year.&#8221;<\/p>\n<p>New Jersey&#8217;s sportsbooks generated <span class=\"xn-money\">$931 million<\/span> in wagers in November, according to official data released Monday, breaking the previous record of <span class=\"xn-money\">$803.1 million<\/span> set in October and marking the fourth consecutive month the state has set an all-jurisdiction record for handle. November&#8217;s bets produced <span class=\"xn-money\">$6.2 million<\/span> in state taxes on <span class=\"xn-money\">$50.6 million<\/span> in revenue.<\/p>\n<p>November&#8217;s handle rose 65.6% from <span class=\"xn-money\">$562.7 million<\/span> in <span class=\"xn-chron\">November 2019<\/span>, which was then a state record. And revenue was up 53.7% over <span class=\"xn-money\">$32.9 million<\/span> in <span class=\"xn-chron\">November 2019<\/span>. <\/p>\n<p>Football attracted <span class=\"xn-money\">$433.3 million<\/span> in bets, up from <span class=\"xn-money\">$278.9 million<\/span> in October. Sports categorized as &#8220;other&#8221; than football, basketball, or baseball drew in <span class=\"xn-money\">$221.5 million<\/span>.<\/p>\n<p>&#8220;When the traditional major betting sports went quiet, most of the major online sportsbooks were really good at engaging their customers with an array of offerings, from golf to table tennis,&#8221; said <span class=\"xn-person\">Eric Ramsey<\/span>, analyst for PlayNJ.com. &#8220;What is surprising is that those efforts continue to pay dividends even as the major sports have returned.&#8221;<\/p>\n<p>Online betting generated 93.6%, or <span class=\"xn-money\">$872.1 million<\/span>, of the state&#8217;s total handle, which was up from 92.6% in October. FanDuel Sportsbook\/PointsBet\u00a0 topped online operators with <span class=\"xn-money\">$21.2 million<\/span> in gross revenue, down from <span class=\"xn-money\">$29.3 million<\/span> in October. <\/p>\n<p>Retail sportsbooks generated <span class=\"xn-money\">$59.5 million<\/span> in bets, up from <span class=\"xn-money\">$59.2 million<\/span> in October. Meadowlands\/FanDuel topped retail books with <span class=\"xn-money\">$3.6 million<\/span> in revenue. <\/p>\n<p>&#8220;As good as the online market has been, Atlantic City has been hit hard this year by the pandemic,&#8221; Gouker said.\u00a0 &#8220;The state&#8217;s growth overall over the last few months is almost entirely the product of online sportsbooks. That will continue for the foreseeable future.&#8221;<\/p>\n<p><b>Online casino and poker<\/b><\/p>\n<p>New Jersey&#8217;s online casinos and poker rooms fell short of its first <span class=\"xn-money\">$100 million<\/span> revenue month with <span class=\"xn-money\">$91.8 million<\/span> in November. That was off from the record <span class=\"xn-money\">$93.5 million<\/span> set in October, but up 86.9% from <span class=\"xn-money\">$49.1 million<\/span> in <span class=\"xn-chron\">November 2019<\/span>. November&#8217;s tally produced <span class=\"xn-money\">$13.8 million<\/span> in state taxes.<\/p>\n<p>Online casinos and poker have generated a record <span class=\"xn-money\">$870.9 million<\/span> in operator revenue this year, putting the industry just short of the pace to reach <span class=\"xn-money\">$1 billion<\/span> for the year. The revenue has injected <span class=\"xn-money\">$130.8 million<\/span> into state coffers this year.<\/p>\n<p>&#8220;With Atlantic City casinos struggling to remain open during the pandemic, the tax revenue generated by online casino games in particular has never been more needed,&#8221; Ramsey said. &#8220;New Jersey&#8217;s online casinos are the envy of every state with legalized online gaming and a model for any state looking to pass legislation in the coming year.&#8221;<\/p>\n<p>For more, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3012567-1&amp;h=3489363532&amp;u=http%3A%2F%2Fplaynj.com%2Fnews&amp;a=PlayNJ.com%2Fnews\" rel=\"nofollow\">PlayNJ.com\/news<\/a>. <\/p>\n<p><b>About the PlayUSA.com Network:<\/b><\/p>\n<p>The <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3012567-1&amp;h=1843909219&amp;u=http%3A%2F%2Fplayusa.com%2F&amp;a=PlayUSA.com\" rel=\"nofollow\">PlayUSA.com<\/a> Network and its state-focused branches is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S. <\/p>\n<p>Contacts: <br \/><span class=\"xn-person\">Zack Hall<\/span>, DVA Advertising &amp; PR, 541-389-2411,\u00a0<a target=\"_blank\" href=\"mailto:261365@email4pr.com\" rel=\"nofollow\">261365@email4pr.com<\/a><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\">\n<\/div>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH23576&amp;sd=2020-12-14\"\/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/huge-november-for-new-jersey-sportsbooks-puts-first-1-billion-month-in-sight-according-to-playnj-301192367.html\">http:\/\/www.prnewswire.com\/news-releases\/huge-november-for-new-jersey-sportsbooks-puts-first-1-billion-month-in-sight-according-to-playnj-301192367.html<\/a><\/p>\n<p>SOURCE  PlayNJ.com<\/p>\n<\/div>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=PH23576&amp;Transmission_Id=202012141534PR_NEWS_USPR_____PH23576&amp;DateId=20201214\" style=\"border:0px; width:1px; height:1px;\"\/> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">ATLANTIC CITY, N.J.<\/span>, <span class=\"xn-chron\">Dec. 14, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0New Jersey became the first state in history to post a legal sports betting handle of more than <span class=\"xn-money\">$900 million<\/span>, as the Garden State&#8217;s online and retail sportsbooks put the first <span class=\"xn-money\">$1 billion<\/span> month clearly in their sights in November, according to analysts for &lt;a target=&quot;_blank&quot;&#8230;<\/p>\n","protected":false},"author":1,"featured_media":31382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-31381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marco-carvajal"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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