This week’s State of the Union, in partnership with Segev LLP, covers the latest sports betting revenue figures in a host of markets. New Jersey is the pick of the results, with the state setting new revenue and handle records in September.
New Jersey smashes revenue and handle records in September
New Jersey’s sports betting market has enjoyed its strongest month since launch, with amounts wagered more than doubling year-on-year and revenue climbing to a record $37.9m in September.
Total handle for September leapt 142.2% from September 2018 to $445.6m, suggesting the vertical benefitted significantly from the start of the National Football League season on September 5. The majority was staked online, with the channel accounting for $374.2m, or 84.0%, of the market total, compared to $71.3m from retail.
For the year to date players have wagered $2.97bn, of which $2.44bn (82.1%) was spent online, according to the latest figures from the state Division of Gaming Enforcement.
NY sports betting revenue more than doubles again for September
New York’s four licensed sports betting operators took in a combined $2.3m in sports betting revenue, up 175.3% month-on-month, as two casinos published their first full-month revenues for the vertical.
Since its launch in July, regulated sports betting in New York has now generated $3.5m in revenue, as the revenue generated from every casino increased from August’s figures.
Rivers Casino & Resort Schenectady’s Rush Street Interactive-powered sportsbook took in the most money, as it had done in each of the two previous months, with $903,892, up 102.2% from August.
However, second-placed del Lago Resort and Casino in Waterloo significantly closed the gap in its first full month of sports betting operations, bringing in $836,929. That figure marked a 375.5% increase upon August’s revenue, which was based on only nine days of wagering after the DraftKings-branded sportsbook at del Lago opened on 23 August.
Iowa sports betting revenue hits $4.96m in first full month
Sports wagering revenue amounted to $4.96m in the first full month of regulated activities in Iowa, with online betting the most popular form of gambling in the state.
Players placed a total of $38.5m in sports bets in September, winning a collective $33.6m in the process. Licensed operators paid $334,553 in tax last month, according to figures from the Iowa Racing and Gaming Commission.
Consumers spent more online than at retail locations, with total internet sports betting spend amounting to $21.8m in September. Operators generated $2.0m in collective revenue from internet wagering.
Indiana sports wagering handle hit $35m in debut month
Licensed operators in Indiana processed a collective $35.2m in sports wagers during the first full month of regulated sports wagering in the state.
The regulated market opened on September 1, and adjusted gross revenue for the debut month amounted to $8.6m, with the state collecting $813,103 in sports wagering taxes.
American football was, by some margin, the most popular sport to bet on, with players wagering a total of $20.7m in September. Parlay bets followed with a handle of $9.8m, while baseball attracted $3.4m in wagers last month.
Delaware igaming revenue climbs to year-high in September
Revenue in Delaware’s online gaming market climbed to a year-high of $384,830 in September, despite consumers spending less on a month-on-month basis.
The September total smashed 2019’s previous monthly high of $313,648 in May and was only the second time that revenue had surpassed the $300,000 mark so far this year.
This came despite player spending on igaming slipping month-on-month from $12.5m in August to $11.8m last month. In comparison, players wagered a similar amount ($11.7m) when the previous yearly record was set in May.
UFC launches first-of-its-kind sports betting product
Mixed martial arts promoter the Ultimate Fighting Championship (UFC) has launched its own sports betting product, UFC Event Center, in partnership with IMG Arena.
The product — the first created specifically for a major sports body — will feature live betting options for every UFC fight as well as authorized UFC data.
Both the UFC Event Center app and the UFC’s official data feed will be licensed to sportsbooks and gaming operators, including IMG Arena’s existing network of more than 300 operators.
San Manuel Casino to sponsor Raiders’ new Las Vegas stadium
The California-based San Manuel Band of Mission Indians will sponsor Las Vegas’ Allegiant Stadium, as well as the Raiders NFL franchise, after the team’s 2020 move from Oakland to the city.
The band will also be designated as a ‘founding partner’ of Allegiant Stadium, which will host the Raiders from 2020 and is currently home to the University of Nevada at Las Vegas’s (UNLV) college football team.
“We are pleased to have San Manuel Casino as a founding partner of Allegiant Stadium” Badain said. “Together we remain aligned in our dedication to providing our fans with the best in-class experience.”