FanDuel and DraftKings Score Big as New Jersey Sports Betting Notches Record August Haul
The return of professional sports in August released pent up demand for betting on sporting events. Yesterday, New Jersey sportsbooks reported $668 million in wagers for the month, a record for any state with legalized sports betting, including Nevada, where it's been legal to bet on sports for decades.
With the state's casinos operating with limited capacity, the big winners were the online sportsbooks, which took in 90% of August's handle (the handle is how much bettors wager; revenue is how much the gaming companies keep).
FanDuel and DraftKings (NASDAQ: DKNG) continued to dominate the sportsbooks, generating revenue of $17.6 million and $10 million, respectively. The next closest sportsbook was MGM Resorts International's (NYSE: MGM) BetMGM and Borgata Sports platforms, with less than $3.3 million.
Source Fool.com
