ATLANTIC CITY, N.J., Feb. 13, 2019 /PRNewswire/ — New Jersey sportsbooks raked in almost $400 million in bets in January since the nation’s bettors took good advantage of their first opportunity to bet legally about the NFL Playoffs. January’s record $385.3 million handle, which totaled $18.8 million in revenue, was up from the $319.2 million New Jersey’s retail and online sportsbooks collected in December.
“January has historically been considered part of the offseason in Atlantic City, but the crowds in town’s sportsbooks on NFL Sundays suggest otherwise,” explained Steve Ruddock, analyst for PlayNJ.com. “In addition to generating a new revenue stream for your state, sports betting 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 total 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 loss for New Jersey’s sportsbooks on a deal just short of $35 million.
“Super Bowl betting didn’t really achieve expectations, but there were some advantages,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “The NFL Playoffs generated considerable action 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 — that operates under the Resorts license — fueled Resorts’ $6.9 million in January online gross revenue, up from $6.7 million in December. Resorts accounted for 48% of the online win of the state for the month. 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. Monmouth Park’s $830,792 — followed in earnings fanDuel — which represents 36% of New Jersey win in January.
“The struggle for market share, particularly in the online marketplace, will be interesting as the year plays out,” Gouker said. “FanDuel has obtained on DraftKings in the internet sector. But through the entire NFL season, the bigger online brands have to earn a substantial challenge to both dominant forces on the market.”
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 online casino and poker industry can generate $400 million in revenue in 2019, according to PlayNJ.com.
“New Jersey’s online gambling industry grew almost 22% in 2018 and has increased 50 percent since 2016, and that expansion will continue,” said Ruddock, direct online gaming analyst for PlayNJ.com. “There are a few concrete reasons why. Two new casinos started in 2018 with online gaming, Atlantic City’s revitalization efforts continue to pay off, the popularity of live dealer games that have added to an already robust portfolio of online casino games, and the legalization and launching of New Jersey sports betting.”
For more, visit PlayNJ.com/news.
Concerning The PlayUSA.com Network:
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