The December NJ sports betting results are out, and Garden State gamblers placed more than $1 billion in bets for the third-straight month. The monthly handle came in at $1.05 billion, pushing the 2022 total to nearly $11 billion.
According to the latest figures released by the New Jersey Division of Gaming Enforcement, gamblers wagered $10.9 billion.
The sportsbooks enjoyed a very strong month with $87.7 million in betting revenue, and that’s good enough for a 48.5% increase from the same period last year in New Jersey.
Here is a closer look at some of the highlights.
DraftKings Sportsbook, Resorts Digital leaders of the Atlantic City pack
The nine Atlantic City casino license holders accounted for $38.5 million of the total revenue, and that’s an increase of 57.5% from December 2021.
More than half of the total, $21.9 million, can mostly be attributed to DraftKings Sportsbook who has a land-based partnership with Resorts Digital, the online division of Resorts Atlantic City. Fox Bet also operates under the license. Even though the DGE does not breakdown the revenue reports by operator, it is PlayNJ’s understanding that DraftKings is responsible for the bulk of the result.
Borgata Hotel Casino & Spa (BetMGM Sportsbook and Borgata Sports) was another big Atlantic City contributor with monthly revenue of $9.5 million.
Tropicana AC earned $5.5 million thanks to the performances of Caesars Sportsbook and Mojo.
Looking at the 2022 totals, Resorts Digital claimed the top spot among AC license holders by a distant margin. The company reported $153.2 million, nearly doubling the $82.9 million earned by second-place Borgata.
FanDuel Sportsbook, Meadowlands Racetrack still No. 1
However, it should come as no surprise the Meadowlands Racetrack, led by FanDuel Sportsbook, can once again refer to themselves as No. 1. The license holder single handily once again topped the entire AC market with $44.2 million for December. PointsBet NJ and SuperBook are the other brands operating under the license.
And while the 12-month total of $422.9 million tops Resorts Digital and Borgata combined, it marks a slight 6.4% drop from the $451.8 million the Meadowlands earned the previous year. The slight drop is not surprising thanks to the January 2022 launch of New York mobile sports betting. Market leaders such as FanDuel, DraftKings, BetMGM and Caesars are legal on both sides of the Hudson River. This means New Yorkers no longer have to worry about taking the short train rides for placing those NFL bets.
But will the Garden State take an even bigger hit this year? Time will tell.
NJ sports betting produces over $90 million in NJ tax revenue
The competition among NJ online sportsbook brands is expected to remain strong, but New Jersey benefits from the tax revenue the industry produces.
Mobile sports betting alone, which is taxed at 13%, generated more than $93.9 million in tax revenue ($11.2 million of which is from December). The state’s 12 retail sportsbooks (nine Atlantic City casinos and three racetracks) paid just under $4 million in taxes combined (taxed at 8.5%).
All NJ sports betting eyes now on Super Bowl
The next several weeks are going to be extremely intriguing from a NFL betting perspective as the Philadelphia Eagles are hosting the New York Giants Saturday night. The winner of the NFL divisional game advances to next week’s NFC Championship Game. Then comes the Super Bowl, and NJ bettors will find out if those futures bets they placed months ago on the Birds or G-Men are winners.
