The total NJ Sports Betting Handle since regulated sports betting began in June 2018 has now reached $2.32 BILLION! The YTD 2019 sports betting handle is now over $1 Billion and on pace surpass $4 Billion!
The March 2019 sports betting handle in NJ broke previous records with a $372,451,342 total. This represented a +16.3% increase from February 2019. The online sports betting handle jumped to $298,282,154 for the month of March. This is the third straight month where the NJ online sports betting handle represented at least 80% of the overall action in New Jersey.
Another sports betting record fell in March. 31.7 million in sports betting revenue was the highest total since NJ regulated sports wagering began in the state. Revenue nearly tripled from the $12.7 in February.
|Month||NJ Online Sports Betting Handle||NJ Online Sports Betting Rev|
(Revenue metrics from NJDGE)
NJ Online Sports Betting Revenue
FanDuel Sportsbook Leading The Way
FanDuel Sportsbook has taken firm control on the sports betting market in NJ. The Meadowlands Racetrack License generated $17.6M in revenue in March 2019. With the total revenue for the month at $31.7M, FanDuel accounted for more than half of the revenue on their own. $13.3M of the $17.6M of revenue was generated via online/mobile operations of FanDuel and PointsBet.
FanDuel statement about the report:
“The FanDuel Sportsbook continues to be the top operator in the New Jersey market both in mobile and retail. There was incredible excitement for March Madness, noted by record-breaking revenue numbers for the FanDuel Sportsbook, which had the biggest revenue month for any operator since the launch of legalized sports betting in New Jersey last June.”
DraftKings Sportsbook posted nearly $7.3 million in revenue for March.
April will be an interesting month for sports betting in NJ. Over the past decade, Vegas has seen anywhere from a 30-50% decrease in action from March to April. Can baseball and the Masters help NJ buck the trend?
|License Holder (Online/Mobile Brands)||Online Revenue||Retail Revenue||March Total|
|Meadowlands (FanDuel, PointsBet)||$13,322,133||$4,271,840||$17,593,973|
|Resorts (DraftKings, BetStars, Resorts Online)||$7,278,126||$85,105||$7,363,321|
|Monmouth (William Hill, SugarHouse)||$1,669,750||$986,251||$2,656,001|
|Ocean Resort (William Hill)||$1,416,004||$541,776||$1,957,780|
|Bally's (Caesars, 888)||$336,866||$233,991||$570,857|
|Golden Nugget (BetAmerica, Gnugget Online)||$98,120||$93,755||$191,875|
|Tropicana (William Hill)||$21,310||$251,169||$272,479|
|Hard Rock (Hard Rock online)||$16,954||$65,300||$82,254|