The latest report from the New Jersey Division of Gaming Enforcement reveals that the state’s sports betting revenue experienced a 3.8% increase in November, reaching an impressive $95.9 million compared to October’s $92.3 million. The total handle for the month was reported at $1.62 billion, with a significant portion, $1.57 billion, coming from online wagers.
Key Market Players:
Leading the market, FanDuel emerged as the top performer with $57.7 million in revenue. DraftKings followed closely with $19.2 million, while BetMGM contributed $8.2 million. The market also saw the entry of ESPN Bet, which launched in the final two weeks of November and quickly amassed $4.8 million in revenue. These figures underscore the robust and competitive landscape of New Jersey’s sports betting market.
Year-to-Date Overview:
For the first 11 months of 2023, the total amount wagered in New Jersey reached an impressive $10.69 billion, solidifying the state’s position as a major hub for sports betting activities.
Hacksaw Gaming’s Partnership with DraftKings:
In a notable development, Hacksaw Gaming secured temporary approval in New Jersey, paving the way for a partnership with DraftKings. This collaboration, set to go live by the end of the year, grants DraftKings users exclusive access to Hacksaw’s initial ten games in the market for a two-week period. Marcus Cordes, CEO of Hacksaw Gaming, expressed pride in the company’s growing presence in the U.S. market, highlighting the significance of their expanding footprint.
The positive trajectory of New Jersey’s sports betting revenue in November reaffirms the state’s dominance in the industry. With key players like FanDuel, DraftKings, and the recent entrant ESPN Bet contributing substantially, the market continues to thrive. The strategic partnership between Hacksaw Gaming and DraftKings further underscores the dynamism and innovation shaping the landscape, promising exciting developments in the months ahead.