New Jersey Sports Betting Revenue Enjoys Big Year-on-Year Increase for September

The New Jersey sports betting market is booming right now, and the most recent revenue reports show an increase of over 10%, with a total of $110 million made in the state for September. 

The total gambling revenue for the month of September reached $521.5m, which is an increase of 8% from last month and shows the steady upward trajectory of the industry in New Jersey. 

As far as New Jersey online sports betting is concerned, a handle of $1.25 billion was placed in September, the highest monthly total ever recorded in the state. NJ sportsbooks are proving very profitable, and the expansive nature of the offering available to players is a good sign of a healthy market. 

Interestingly, the state has shown a big surge following a relatively poor 2022, which was put down to the legalization of sports betting in New York, which seemingly led to many opting to bet there, having previously traveled to New Jersey to do so.

2022 saw a downturn of 14% in terms of September’s handle that year but has now risen by nearly 50%, more than making up for the loss suffered this time last year. 

In terms of the providers taking the biggest slice of the sports betting pie, DraftKings remains the king of the castle, with the likes of FanDuel, PointsBet, Bet365, and Unibet showing good numbers.

As the number of sports betting providers and online casinos in New Jersey remains healthily high and always with scope to expand, it’s not surprising that igaming solutions company Amelco would look to secure the relevant license to operate in the Garden State.

This point has been echoed by the Head of USA at Amelco, Brandon Walker, who commented on the successful acquisition of a license and launching in New Jersey;

“If we’re being completely honest, we would have liked to have entered New Jersey a lot sooner. But the timing wasn’t right, and none of our active clients were operating in that market.”

“It just so happens that the client that we’ve just gone live with was switching from one platform provider to us. It wasn’t that they weren’t necessarily live before, but they have now migrated onto our platform.”

“We have been able to offer them a lot of flexibility with our product, a lot of new integrations, a range of new tools, enhanced CRM capabilities and casino-specific functionalities that they were previously missing.”

“It’s fantastic that they’ve transitioned over.. It shows that we’re doing something right and that our products are what operators are looking for.” 

“We may be slightly late to the market in terms of igaming, but I do believe that we’ll go from strength to strength. There is certainly going to be a lot more operators looking at our products and our platform for further igaming adoption.” Walker added.

It is perhaps a sign of the success in the state that draws companies into the space, such as Amelco, offering a suite of possibilities to assist the sportsbook providers and online casino brands with all manner of products and services.

“What we’ve noticed is that bonus capabilities are a big differentiating factor for my casino operators, particularly how CRM products interact with the bonus functionality. Something to also consider is how you target your customers with relevant bonuses that aren’t just going to fall by the wayside.”

“That is a big portion of what we’ve been focusing on. We’re looking at the look and feel of the app and making sure it looks very slick; it has to be fast and responsive too. New Jersey is such a competitive state with so many operators there already. So, anything that is second grade is just not going to fly. We’re making sure that the UX and UI is up there with the best.” Walker concluded.

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