ATLANTIC CITY, N.J., Feb. 13, 2019 /PRNewswire/ — New Jersey sportsbooks raked in nearly $400 million in bets in January since the state’s bettors took advantage of their first opportunity to bet legally about the NFL Playoffs. January’s record $385.3 million handle, which netted $18.8 million in revenue, was up from the $319.2 million New Jersey’s retail and online sportsbooks accumulated in December.
“January has historically been regarded as a part of this offseason in Atlantic City, but the crowds in town’s sportsbooks on NFL Sundays suggest differently,” explained Steve Ruddock, analyst for PlayNJ.com. “In addition to generating jobs and a new revenue stream for the country, sports gambling is helping transform Atlantic City into a yearlong destination”
New Jersey’s online sportsbooks accounted for $304.97 million, or 79 percent, of total bets in January. Retail sportsbooks made up the remaining 21 percent. That compares to 76 percent of bets flowing through sportsbooks at December.
New Jersey sports gambling revenue, or the”triumph,” was down 9.9 percent from $20.8 million in December. January’s results followed a slightly underwhelming Super Bowl performance, which ended with a $4.5 million reduction for New Jersey’s sportsbooks on a deal only short of $35 million.
“Super Bowl gambling didn’t quite reach expectations, but there were some advantages,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “The NFL Playoffs generated significant activity in January, and anecdotal evidence indicates visitation to Atlantic City for the weekend of the Super Bowl was way up. All in all, it was a successful first season of the NFL for New Jersey’s sportsbooks.”
DraftKings Sportsbook — which works under the Resorts license — fueled Resorts’ $6.9 million in January online gross earnings, up from $6.7 million in December. Resorts accounted for 48% of the state win . FanDuel Sportsbook/Pointsbet was just behind with $5.9 million.
FanDuel Sportsbook in The Meadowlands stays the dominant retail sportsbook, gaining $1.2 million in January gross earnings, down from $3.6 million in December. FanDuel — that represents 36% of New Jersey win in January — has been followed in gross earnings by Monmouth Park’s $830,792.
“The battle for market share, especially in the internet market, will continue to be interesting as the year plays out,” Gouker said. “FanDuel has gained on DraftKings in the online market. But throughout the total NFL season, the bigger online brands have yet to earn a significant challenge to both dominant forces on the marketplace.”
LEGAL ONLINE CASINOS
Legal online casinos generated a record $33.6 million in January — up from $29 million in December — and $5.9 million in tax revenue. New Jersey’s internet casino and poker industry can generate $400 million in revenue in 2019, according to PlayNJ.com.
“New Jersey’s online gaming industry grew almost 22% in 2018 and has increased 50 percent since 2016, and that expansion will continue,” said Ruddock, lead online gaming analyst for PlayNJ.com. “There are a few concrete reasons why. Two new casinos started in 2018 with online gambling, Atlantic City’s revitalization efforts continue to repay, the popularity of live dealer games that have added to an already robust portfolio of online casino games, and the legalization and launch of New Jersey sports gambling.”
For more, see PlayNJ.com/information.
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