NJ Sportsbooks Set New Record, Book Nearly $400 Million In Bets In January

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nj sports betting revenue

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.

However, NJ sports betting revenue was actually down 9.9 percent from $20.8 million on $319.2 million in handle in December 2018.

NJ sportsbooks followed up the record month of January by booking $35 million in bets on the Feb. 3 Super Bowl. However, sportsbooks reported a loss of $4.5 million on that event.

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 Sportsbook operates under the Resorts license alongside BetStars and Resorts’ own sports betting app, which launched end of January.

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.

NJ sports betting revenue by the numbers

Here’s a closer look at the January 2019 legal NJ sports betting revenue numbers by operator:

OperatorDigitalRetailJanuary TotalDecember Total
Bally's (Caesars, 888)$260,290$236,370$496,660$128,754
Borgata (playMGM)$41,897$635,564$677,461$167,241
Golden Nugget--$27,287$27,287$82,532
Hard Rock (*combined retail/digital)--$25,235*$25,235--
Harrah's--$20,615$20,615$215,971
Meadowlands (FanDuel, PointsBet)$5,850,117$1,168,063$7,018,180$9,110,014
Monmouth Park (William Hill, SugarHouse)$1,171,980$830,792$2,002,772$2,327,684
Ocean Resort (William Hill)$1,285,576($14,287)$1,271,289$1,677,883
Resorts (DraftKings, BetStars)$6,893,983$242,636$7,136,619$6,886,735
Tropicana (William Hill)$196$98,626$98,822$217,408
Totals$15,504,039$3,270,901$18,774,940$20,814,222

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Martin Derbyshire

About

Martin Derbyshire has more than 10 years of experience reporting on the online poker, online gambling, and land-based casino industries for a variety of publications including Bluff Magazine, PokerNews, and PokerListings. He has traveled extensively, attending tournaments and interviewing major players in the gambling world.

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