New Jersey sportsbooks kicked off 2019 by setting a new monthly record.
In fact, NJ sportsbooks took in a record $385.3 million in bets in January 2019, according to the NJ Division of Gaming Enforcement, turning that into $18.8 million in revenue.
The first opportunity to bet legally on the NFL Playoffs in New Jersey certainly played a role in creating the near $400 million in handle. New operators joining a new market that has gripped the public’s interest so far was a factor as well.
NJ online sportsbooks set the pace
Online sportsbooks continued to set the pace in the NJ sports betting market in January 2019.
In fact, online sports betting operations accounted for $304.97 million, or 79 percent, of the total amount bet in January. That’s up from 76 percent of the total bets in December, proving that the online side of NJ sports betting is a must-have.
According to Legal Sports Report, January is traditionally a down month for Nevada sportsbooks compared to the final three months of the year.
This is due to football being down to just a handful of college bowl games and limited NFL playoff action. However, New Jersey sportsbooks bucked that trend as they easily surpassed November and December numbers to set a new handle record in January.
In fact, with $385.3 million in bets in January 2019, NJ sports betting could be on the verge of unseating Nevada at the top of the sports betting world.
DraftKings Sportsbook still on top
Once again, DraftKings Sportsbook proved to be the top-earning sportsbook in the state, online or off.
DraftKings, however, dominates the internal revenue race. The trio reported $6.9 million in January revenue, up from $6.7 million in December, and accounting for close to half of the state’s total online sports betting revenue. Most estimate that DraftKings accounts for the vast majority of that revenue.
The combination of FanDuel Sportsbook and PointsBet operating under the Meadowlands Racetrack license was just behind with $5.9 million in January revenue. Much like DraftKings Sportsbook, FanDuel Sportsbook is the real earner here.
Retail sports betting revenue has a similar story
FanDuel Sportsbook at The Meadowlands was the top-earning retail sportsbook in the state once again. It posted $1.2 million in January revenue as it clearly continued to benefit from its proximity to New York City.
However, that number was down from $3.6 million in December with online sportsbooks lapping up even more of the market.
The biggest surprise may be in the middle of the NJ sports betting market spectrum, where MGM Resorts-owned Borgata continues to under-perform. It posted under $700,000 in January revenue.
Borgata is the top-grossing casino in the state. However, it is still running retail sports betting operations out of a converted racebook. A new $11 million sportsbook is in the works. Plus, its playMGM Sportsbook app is not in DraftKings’ league.
In the meantime, NJ online casinos and poker sites pulled in a record $33.6 million in revenue in January, too.
NJ online gambling is now on pace to record $400 million in revenue in 2019. And NJ sports betting sites are likely contributing to the overall pull of online gambling.
The two work really well together. Sports powering what I’d back-of-the-envelope as a 20% gain for casino. Some of that will wear off, but important to note that sports cross-sell has that impact despite only being live at ~half of state’s online casinos. https://t.co/RtsUtrI0HJ
— Chris Grove (@OPReport) February 13, 2019
NJ sports betting revenue by the numbers
Here’s a closer look at the January 2019 legal NJ sports betting revenue numbers by operator:
|Licensee||Online Brand(s)||Total Revenue||Online Revenue||Retail Revenue||State Tax||Local Tax|
|Resorts||DraftKings | BetStars | Resorts||$7,136,619||$6,893,983||$242,636||$917,169||$175,445|
|Meadowlands||FanDuel | PointsBet||$7,018,180||$5,850,117||$1,168,063||$866,233||$162,086|
|Monmouth Park||William Hill | SugarHouse||$2,002,772||$1,171,980||$830,792||$221,191||$39,422|
|Bally's||Caesars | 888||$499,302||$262,932||$236,370||$54,272||$9,528|
|Hard Rock||Hard Rock||$25,235||$25,235||$0||$3,281||$631|