In this mobile world, location matters less and less when it comes to business.
That’s partially true in the new legal sports betting arena, which has seen big retail business in areas that you might not think would attract customers/bettors.
The top retail spot in the United States outside of Nevada is FanDuel Sportsbook’s physical location right outside of MetLife Stadium in East Rutherford, New Jersey. The retail book earned revenue of $4.27 million in the month of March alone. No other retail sportsbook in New Jersey even cracked $1 million last month.
Here is how FanDuel Meadowlands stacked up against some of the other big retail names in New Jersey and Pennsylvania (March revenue).
FanDuel Meadowlands $4.27 million
Rivers Casino (Pittsburgh) $1.34 million
SugarHouse Casino (Philadelphia): $1.23 million
Monmouth Park (Oceanport, NJ): $986,251
Parx Casino (Bensalem, PA): $984,339
As you can see, it’s not even close. So what’s the difference here?
The Meadowlands is pulling in New York City as it has little to no competition up north, with the majority of the physical sportsbooks in NJ in Atlantic City.
“It’s the closest retail spot to the area with the biggest population in the United States. Northern New Jersey. NYC. That’s been a huge driver,” FanDuel President & COO Kip Levin told MetroBet.
Interestingly enough, Levin says that NFL game days at MetLife don’t tend to be great days for the book.
“We share a parking lot [with the Jets and Giants],” Levin said. “So it can actually cut into the amount of people that come there on non-game days.”
Proximity to pro sports stadiums will be key for many sportsbooks opening up. Rivers Casino in Pittsburgh has thrived as it is adjacent to Heinz Field. The South Philadelphia Turf Club has also done relatively strong business thanks to its location next to Citizens Bank Park.
“Retail will always be a viable part of our success,” Levin told MetroBet. “There’s a healthy social aspect at a physical sportsbook as people want to be there with their friends.”