Casinos, online sportsbooks, and horse tracks earned $470 million in August. Thus, NJ sports betting revenue improved more than ten percent from the previous year, based on the report from the state gambling regulators.
According to sportsbook pay per head sources, money won from in-person players at casinos was around 274 million, a 4.4 percent increase from the previous year. However, the total remained below revenue from August 2019, before the pandemic affected casinos. The total during that time was $286 million.
Nine casinos in New Jersey made it their mission to return their in-person revenue to its pre-pandemic revenue levels. Online gambling and sports betting currently offset the lack of revenue from in-person betting.
NJ Sports Betting Revenue Up in August
Those income streams are misleading. Casino leaders say since casinos don’t get to keep all that cash. Instead, it shares the revenue with third parties, including sports betting software suppliers, sportsbooks, and tech platforms. By specific evaluations, as much as 70 percent of sports wagering and online revenue isn’t held by casinos.
Contrasting outcomes from the three months in summer to a similar period last year, Atlantic City’s casino winnings improved by over 6 percent. Also, total gambling revenue surpassed $1.2 billion, up 9 percent.
Sports news reports stated that casinos had a strong showing in August. In addition, they noticed that in-person casino winnings surpassed every other August number since 2015.
For August, five of the nine gambling clubs revealed expansions in how much cash won contrasted with a year sooner. They are Borgata, Hard Rock, the Sea Club Resort, Bally’s, and Resorts.
Four casinos revealed income declines compared with the previous year. They are Golden Nugget, Tropicana, Harrah’s, and Caesars.
The Borgata had its second-greatest month in August, following just the $124 million it won from speculators in July. Both those figures address the most elevated adds up to at any point accomplished by an Atlantic City casino since legal betting started in the state in 1978.