Despite the limited number of NFL games in January, the state of New Jersey continued to see growth within their new legal sports betting industry.
In January, the state took in more than $385 million in wagers. The largest in the history of the state. That total includes brick-and-mortar and mobile betting apps, with mobile accounting for nearly 80 percent.
The overall sports betting handle since June 2018 is $1.63 BILLION!
NJ Sports Betting Revenue By Sportsbook
For comparison purposes, NJ Sports Betting in December 2018 brought in $319 million. However, the $18.8 million in revenue in January was a decrease from the $21 million in December. What you simply cannot miss is the overwhelming dominance by FanDuel Sportsbook and DraftKings Sportsbook in NJ. Both books accounted for roughly $14M of the $18M in revenue for the month!
|License (Online Books)||Online/Mobile||Retail||January 2019 Total||December 2018 Total|
|Resorts (DraftKings, BetStars)||$6,893,983||$242,636||$7,136,619||$6,886,735|
|Meadowlands (FanDuel, PointsBet)||$5,850,117||$1,168,063||$7,018,180||$9,110,014|
|Monmouth Park (William Hill, SugarHouse)||$1,171,980||$830,792||$2,002,772||$2,327,684|
|Ocean Resort (William Hill)||$1,285,576||-$14,287||$1,271,289||$1,677,883|
|Bally's Wild Wild West (Caesars, 888)||$260,290||$236,370||$496,660||$128,754|
February Sports Betting Handle Heading Down?
NJ Sportsbooks began February by taking in $35 million in Super Bowl Bets. The New Jersey Division of Gaming Enforcement reported that sportsbooks lost $4.6 million on the “Big Game”. Meanwhile, Nevada books brought in nearly $11 million on a $145.9 million Super Bowl Betting handle.
New Jersey had a negative hold of nearly 13 percent across the 21 total sportsbooks (10 brick-and-mortar; 11 mobile).
With football season over and March Madness activity on the door-step, February sports betting numbers will be down for sure. The question is how much? Based on the January basketball volume of $135M in handle, it could be substantial. Could betting on the Oscars save February? We doubt it, but it will be interesting to see the overall hype.
#NewJersey January Sports Betting Revenue summary:
– NJ Sportsbooks handle was $385M. Up from $319M in Dec.
– 79% of the handle came from online/mobile.
– Overall $18.8M in rev.
– DK & FD brought in $13.9M of the $18.8M
– Total handle since June = $1.6 BILLION!
— Bet New Jersey (@BetNewJersey) February 13, 2019