ATLANTIC CITY, N.J., Feb. 13, 2019 /PRNewswire/ — New Jersey sportsbooks raked in almost $400 million in stakes in January as the state’s bettors took advantage of the 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 online and retail sportsbooks collected 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 otherwise, » said Steve Ruddock, analyst for PlayNJ.com. « In addition to creating jobs and a new revenue stream for your country, 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 betting 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 handle only short of $35 million.
« Super Bowl gambling didn’t quite achieve expectations, but there were some positives, » said Dustin Gouker, lead sports gambling analyst for PlayNJ.com. « The NFL Playoffs generated considerable action in January, and anecdotal evidence suggests visitation to Atlantic City for the weekend of the Super Bowl was far up. Overall, it was a successful first season of the NFL for New Jersey’s sportsbooks. »
DraftKings Sportsbook — which works under the Resorts permit — fueled Resorts’ $6.9 million in January online gross earnings, 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 at The Meadowlands remains the dominant retail sportsbook, gaining $1.2 million in January gross revenue, down from $3.6 million in December. FanDuel — that represents 36 percent of New Jersey’s retail triumph in January — was followed in earnings by Monmouth Park’s $830,792.
« The struggle for market share, especially in the internet marketplace, will continue to be fascinating as the year plays out, » Gouker said. « FanDuel has gained on DraftKings in the online sector. But through the total NFL season, the bigger online brands have yet to earn a substantial challenge to the two 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 internet casino and poker industry could generate $400 million in revenue in 2019, based on PlayNJ.com.
« New Jersey’s online gaming industry grew nearly 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 some concrete reasons why. Two new casinos opened in 2018 with online gaming, Atlantic City’s revitalization efforts continue to repay, the prevalence of live dealer games that have added to an already strong portfolio of online casino games, along with the legalization and launching of New Jersey sports gambling. »
For more, visit PlayNJ.com/news.
About The PlayUSA.com Network:
The PlayUSA.com Network and its own state-focused branches (like PlayNJ.com and PlayPennsylvania.com) is a major source for information, analysis, and research related to the market for controlled online gambling in the U.S.
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SOURCE PlayNJ.com
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