NJ Sports Betting | FanDuel Continues Revenue Rampage In May

NJ Sports Betting | FanDuel Continues Revenue Rampage In May

When it comes to revenue for online sports betting in New Jersey, the battle has always been between FanDuel Sportsbook and DraftKings Sportsbook for the top spot. These two names have become synonymous with wagering on sports in recent years, and continue to grow steadily as the landscape of the industry continues to change and expand. 

In order to keep up with measuring the success of each operator from a revenue perspective, it’s important to understand exactly where information on those products is available. Partnerships within the NJ online casino industry have FanDuel under the Meadowlands Racetrack umbrella and DraftKings working with Resorts Digital Gaming

Both Resorts Digital and the Meadowlands have more than one source of contribution for monthly revenue reports from the New Jersey Division of Gaming Enforcement. With that said, there’s reason to believe that based on marketing and brand awareness, much of the revenue created by Meadowlands Racetrack originates with FanDuel while the same can be said for DraftKings and Resorts Digital. 

Below, we get a closer look at a month-by-month comparison between the two sportsbooks for the current year and can see how it compares to trends from 2018 as well. 

FanDuel Creating Separation From DraftKings In 2019

After a 2018 that featured Resorts Digital and DraftKings being far more successful than FanDuel Sportsbook and Meadowlands Racetrack, things have shifted dramatically in 2019. 

The first month of this calendar year was more of the same, with Resorts and DraftKings earning more revenue in the Garden State. Since then, it’s been four straight months dominated by FanDuel and the Meadowlands, with each month looking more lopsided than the last. The most eye-catching stat comes in perhaps the most explosive month of the first half of the year in March. With huge help from the NCAA Tournament, New Jersey online sports betting exploded during the third month of the year, with FanDuel helping the Meadowlands produce an incredible $13.32  million in revenue. 

Month/Year For NJ Sports Betting Revenue

Resorts Digital - DraftKings ($ in Millions)

Meadowlands - FanDuel ($ in Millions)

January 2019

$6.89

$5.85

February 2019

$3.72

$6.59

March 2019

$7.28

$13.32

April 2019

$4.77

$8.78

May 2019

$4.10

$7.87

2019 Year-To-Date

$26.76

$34.65

2018 Year-To-Date

$30.43

$15.25

Over the course of  the last four months, Meadowlands has turned a million-dollar deficit into a nearly $8 million lead thanks in large part to FanDuel’s dominance in the NJ online sports betting space. And at its current pace, that trend looks like it can continue throughout 2019. 

DraftKings, Resorts Digital Still Finding Its Footing In 2019

The first full year of online sports betting in New Jersey is not going as planned for DraftKings Sportsbook and Resorts Digital. After generating $30.43 in 2018 revenue and doubling FanDuel’s production on an abbreviated calendar, things appear to have gone in the opposite direction. 

DraftKings helped Resorts Digital eclipse the Meadowlands total to begin the year, but the last four months have seen a growing gap in production between the two sides. Resorts is still on pace to wind up producing $50-60 million in revenue with some huge help from the DraftKings app, but in comparison to the over $80 million FanDuel can help create, it looks like the contest is becoming less and less competitive in New Jersey. 

To be fair to DraftKings, it is and is going to remain an absolute force as sports betting in the United States continues to expand from state-to-state, and this internal battle in New Jersey is going to be brought to lands far beyond the Garden State. Besides, with trends changing and the landscape being ever-flowing, we can be positive that  powerhouse like DraftKings and Resorts Digital are going to continue being in the conversation in New Jersey and elsewhere. 

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About Brian Sausa

Brian Sausa is BonusSeeker’s Copy Editor and lead sports betting pundit. A journalism graduate with an extensive sports background, Brian has been employed by multiple professional leagues including MLB, MiLB (Minor League Baseball), and the NHL.

MLB, NHL, IBTimes, Brooklyn Cyclones, FanSided

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