NJ Betting: FanDuel, DraftKings Fight For Top

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00:00 (upbeat music)

00:03 - All right, let's move over to New Jersey.

00:04 We've got an increase in sports betting revenue,

00:07 not a huge surprise here,

00:08 but maybe a surprise in this jockeying back and forth

00:11 as to the company that is on top

00:15 over the last few months here.

00:17 So who do we have here at number one and number two?

00:19 - Yeah, so pretty interesting stuff

00:22 coming out of New Jersey in July.

00:27 Last month, Craig, like we talked about a few weeks ago,

00:31 the racetrack that kind of oversees

00:36 the couple of different operators

00:39 that are tied to a single Atlantic City casino

00:42 or a authorized racetrack in New Jersey,

00:46 we had DraftKings part of that group

00:49 that took over the top spot in New Jersey revenue in June,

00:55 which was the first time in a while

00:57 that they were able to do that.

00:59 In July, we saw FanDuel.

01:02 It's the group that includes FanDuel

01:06 and obviously is headlined by FanDuel.

01:09 They reclaimed that top spot in revenue in New Jersey.

01:14 So yeah, a little bit of a back and forth between the two.

01:18 I mean, FanDuel is pretty much the clear cut leader there.

01:22 But what's interesting to me is when you look

01:26 at the New Jersey market and how it's kept up,

01:31 if you will, since New York launched

01:34 its online sports betting,

01:36 and the revenue side for New Jersey

01:39 has been doing quite well year over year.

01:42 Their revenue, comparing one month in 2023,

01:46 July, for example, this year to July last year

01:52 was an increase, and it's been eight straight months

01:55 where New Jersey operators have had an annual increase,

02:00 year over year increase in revenue.

02:04 So we saw some impact, obviously, from New York

02:09 when they opened up kind of chewing

02:13 into that New Jersey market,

02:14 but seems like things are settling down a little bit.

02:17 And like I said, the operators have had a string

02:20 of eight straight months now where they've been able

02:24 to increase that year over year revenue.

02:27 So some positive signs coming out of New Jersey,

02:30 and obviously something that I'll continue to keep an eye on

02:33 as we round out the summer

02:35 and head into the teeth of the NFL season.

02:38 (upbeat music)

02:41 [MUSIC]

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