The NFL season has kick-started in September and with this, the sports wagering and betting sites have also swung into full action. The NFL is one of the biggest sporting events in the United States to attract plenty of sports betting enthusiasts to bet on their favorite teams, players, and the games.
If it was brick and mortar sports betting that was very popular earlier, now the craze to bet on NFL has shifted to online sports betting. In fact, mobile sports betting is the norm these days as bettors get to place bets when they are on the move or who stuck in a traffic.
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The Atlantic City casinos and the New Jersey sports betting feel that this is the feast time to make the moolahs ring as plenty of online and mobile wagering will take place. The total gaming revenues that were generated in September was revealed by the Gaming Enforcement of the New Jersey division. It posted revenue earnings of $281.7 million.
The figures were just $235.8 million during the same time in 2017. This shows that there is a jump of 19.5 percent increase in the revenues in September 2018 when compared to the same time in 2017. The main contributor to this increase in the gaming revenue in September is the online casino wagering that has increased by 26.3 percent this year. The sports betting revenue is 24 million dollars and that was nonexistent last year.
The impact of sports betting on casino revenues
There is a 7.7 percent increase seen in the casino revenues for the month of September when compared the last year’s figures of September. The main reason for this increase is the sports betting revenues. It is clear from this revenue data that sports betting is turning out to be a major player in changing the course of the total gaming revenue.
If you are wondering as to how there is so much of growth in the casino revenues, then this can be attributed to the New Jersey sports betting market. There was a major change that happened to the NJ sports betting in September. It is mainly credited to mobile sports betting.
The mobile sporting betting apps for the New Jersey had a major role to play in the revenue boost. The apps that were designed to offer easy and quick NFL betting options for the gamblers were put to a 30-day wait after the brick and mortar sportsbook centers opened their shop for the new season. The waiting period is now over. You will find eight mobile and online sports betting facilities to be in offer in the NJ state.
Despite starting late than the physical sportsbooks, the online betting and mobile wagering channels were able to generate more money than their physical counterparts in September. The use of mobile sports betting has come as a big boon to the NJ sports betting industry. There is no doubt that it will help in further boosting the revenues for the NJ casino sector.
The role of online and mobile sports betting
The physical sportsbook betting was under $80 million for September. At the same time, online and mobile sports betting reached close to $105 million. What this meant was that the New Jersey sports betting websites and apps have made a revenue of $12.5 million for the month of September. The NJ casinos and the other betting options were only able to make a revenue of $11.4 million for September.
The Resorts Casino Hotel has turned out to be the biggest sports betting operator in the month of September in NJ State. This is just a temporary sports betting location. The success that this casino hotel has had is due to joining hands with BetStars NJ, DraftKings Sportsbook, and PokerStars NJ, the fantasy sports bigwigs.
The casino has amassed $11.85 million in revenue since it started its operations. $8.5 million has come from the revenues generated by BetStars and DraftKings and that too in September 2018.
The FanDuel retail and mobile sportsbook are close to the results obtained by the Resorts Casino Hotel and have posted an NJ sports betting revenue of $11,663,752. The main reason for its revenue increase is due to its nearness to New York as it operates at Meadowlands Racetrack. The physical sportsbook generated $4,374,474 in September.
How good is NJ Online and mobile sports betting market?
Apple opened its doors to play MGM, BetStars, and 888 Sport iOS apps and iPhone and iPad users can download the apps for free from the iTunes store. This helped in boosting the NJ mobile sports betting revenue. The MGM, BetStars, and 888 are now available to place bets on both Android and iOS smartphones and tablets and this makes total 8 mobile betting apps in NJ.
The other five sportsbook mobile apps are FanDuel, Sugarhouse, DraftKings, William Hill NJ, and Caesars. There are reports that Resorts and Golden Nugget are also going to launch mobile sports betting apps soon. Apart from this, there are 8 physical sportsbooks in the NJ state.
Casinos should thank NJ Online and mobile sports betting
The sports betting has boosted the revenues of the NJ casinos like anything. David Rebuck, the DGE Director, said that the introduction of the sports betting in NJ has seen a significant jump in the casino revenues and he feels that it will still be growing.
The Atlantic City casinos have been seeing a lot of decline over the past 10 years and have only started to show minor gains for the last two years. This is mainly due to the increased in licensed and regulated online wagering.
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