As much as the world of sports betting seems to want the New Jersey industry to overtake the Nevada industry, Silver State reminded everyone in September that it’s still king. .
Retail and online/mobile sportsbooks took $546.3 mm in wagers, according to Nevada Gaming Control Board figures released Wednesday morning. New Jersey books took 445.6 mm last month.
September’s results follow three months after New Jersey beat Nevada this summer. Despite some hype from the sports betting industry, it didn’t matter much given the absence of both college and professional football.There are quite a few popular MLB teams in the Northeast .
Nevada overwhelmed New Jersey in September by not doing remote registration like the latter. The Garden State has a much larger population and is also located next to the large, untapped New York market.
It’s interesting that the sports betting industry would like to declare New Jersey a champion. To prove that the demise of PASPA was a game changer? Either way, it was a game changer. To push Nevada toward remote registration approval? You can’t blame the industry for wanting it, so it might help explain the Nevada vs. New Jersey narrative.
As more states in the Northeast legalize, the window of opportunity for New Jersey to become the so-called king of sports betting is closing. online/mobile Sports betting. Approximately 85% of New Jersey transactions occur over the internet. Nevada does not release data on it.
The future is online/mobile so New Jersey, like many states looking to regulate sports betting, is showing the industry as a whole how things should be done. Many kudos for that must get.
Annual handle change
To further defend New Jersey’s industry stalwarts, the state sportsbook placed a $183.9 mm bet last September. The growth of the handle over the years is impressive. New Jersey He started sports betting in June 2018.
Nevada’s September 2018 sports betting handle was 571 mm, down 4.3% last month.
However, it should be noted that the Nevada market didn’t actually drop as there was an extra Saturday in September 2018. The reduction in days this year compared to last year also adds to the impressive results in New Jersey. That said, some expected Garden State to reach the $500 mm mark.
It’s worth noting here that New Jersey also has a rapidly growing online casino games market, offering gamblers a lot of choice. In Nevada, it’s just online poker and mobile sports betting.
Nevada also wins in revenue
Handles are undoubtedly a great rubric for market-to-market comparisons, but you should also pay attention to book winnings (aka earnings). Nevada also scored a convincing victory over New Jersey last month.
The Nevada book was held at $52.1 mm on the handle in the form of a prize. New Jersey books were 37.9 mm.
New Jersey’s revenue, like handles, increased significantly year-over-year as the industry rapidly evolved and expanded in just 12 months. Nevada revenue fell 7.6% year-over-year.
Again, that Saturday’s absence is to blame, but Nevada winnings fluctuate based on how sportsbooks perform against gamblers. Nevada sports betting wins can fall off even though the handle is growing.