New Jersey sports betting just had its best month ever, as both the total amount of money gambled and sportsbook revenue hit all-time highs in January.
According to data released Friday by the state Division of Gaming Enforcement, NJ sportsbooks took just shy of $1.72 billion worth of legal bets last month and kept more than $170.7 million.
NJ beat previous record by $100 million
The previous record for monthly handle (the amount wagered) in NJ was $1.62 billion, set in November 2023. Last month’s handle was a 59% year-over-year increase from January 2023.
Online sports betting continues to attract the bulk of legal wagers in NJ. Based on the DGE data, 97.2% of January’s handle, or $1.67 billion, were online bets.
The $111.2 million in monthly revenue reported in October 2023 had been an all-time high for NJ sportsbooks. January 2024’s revenue was a 136% YoY increase.
The monthly financial reports include data from sportsbooks inside Atlantic City casinos, the state’s three licensed racetracks and 18 mobile sports gambling apps.
Concerns over sports betting numbers in NJ have vanished
After seeing a decline in YoY volume following New York’s legal online sports betting launch in early 2022, NJ’s sports gambling market has bounced back in a big way. Concerns about Garden State bookies losing business to their Empire State counterparts are all but gone.
January marks the fifth consecutive month of handle eclipsing $1 billion. NJ sportsbooks have generated over $90 million in monthly revenue since September 2023.
New Jersey remains in the top tier of legal sports betting states, along with NY and Nevada. Illinois, Pennsylvania, Michigan and Ohio are nipping at their heels.
Licensee | Online Brand(s) | Total Revenue | Retail Revenue | Online Revenue | Total Tax Obligation |
---|---|---|---|---|---|
Meadowlands | FanDuel | PointsBet | SuperBook | $113,025,794 | $3,713,015 | $109,312,779 | $14,526,293 |
Resorts Atlantic City | DraftKings | Fox Bet | Resorts | $40,119,622 | ($135,565) | $40,255,187 | $5,233,174 |
Borgata | BetMGM | Borgata | $8,020,698 | ($17,957) | $8,038,655 | $1,045,025 |
Hard Rock Atlantic City | Hard Rock | bet365 | Unibet | $4,797,014 | ($48,861) | $4,845,875 | $630,034 |
Tropicana Atlantic City | Caesars | Mojo | $2,504,264 | $199,942 | $2,304,322 | $319,872 |
Monmouth Park | Caesars | BetRivers | $2,386,860 | $495,164 | $1,891,696 | $288,019 |
Bally's Atlantic City | Sporttrade | $494,109 | ($87,762) | $581,871 | $60,561 |
Harrah's Atlantic City | Prophet | $418,378 | $46,623 | $371,755 | $48,328 |
Ocean | Tipico | $373,416 | ($8,184) | $381,600 | $49,616 |
Golden Nugget Atlantic City | Golden Nugget | Betway | $73,856 | $6,384 | $67,472 | $543 |
Caesars Atlantic City | WynnBet | ($388,868) | ($388,868) | --- | --- |
Freehold | ESPN Bet | PlayUp | betParx | ($1,066,809) | $122,836 | ($1,189,645) | $10,445 |
Total | $170,758,334 | $3,896,767 | $166,861,567 | $22,211,910 |