ATLANTIC CITY, N.J., Feb. 13, 2019 /PRNewswire/ — New Jersey sportsbooks raked in almost $400 million in bets in January since the nation’s bettors took advantage of the first opportunity to bet legally about the NFL Playoffs. January’s album $385.3 million handle, which netted $18.8 million in revenue, was up from the $319.2 million New Jersey’s retail and online sportsbooks accumulated in December.
“January has historically been regarded as part of this offseason at Atlantic City, but the crowds in town’s sportsbooks on NFL Sundays suggest otherwise,” explained Steve Ruddock, analyst for PlayNJ.com. “In addition to generating a new revenue stream for your country, sports betting is helping transform Atlantic City to a yearlong destination.”
New Jersey’s online sportsbooks accounted for $304.97 million, or 79 percent, of total bets in January. The remaining 21 percent was made up by retail sportsbooks. That compares to 76 percent of bets flowing through internet sportsbooks at December.
New Jersey sports gambling revenue, or the”win,” 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 loss for New Jersey’s sportsbooks on a handle only short of $35 million.
“Super Bowl betting didn’t really achieve expectations, but there were some positives,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “The NFL Playoffs generated considerable action in January, and anecdotal evidence indicates 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 nation’s online win for the month. FanDuel Sportsbook/Pointsbet was just behind with $5.9 million.
FanDuel Sportsbook at The Meadowlands remains the dominant retail sportsbook, getting $1.2 million in January gross revenue, down from $3.6 million in December. Monmouth Park’s $830,792 — followed in earnings fanDuel — that represents 36 percent of the retail triumph in January of New Jersey.
“The struggle for market share, especially in the internet market, will be fascinating as the year ends,” Gouker said. “FanDuel has obtained on DraftKings in the internet sector. But through the entire NFL season, the smaller online brands have to make a significant challenge to both dominant forces on the market.”
LEGAL ONLINE CASINOS
Legal online casinos created a record $33.6 million in January — up from $29 million in December — and $5.9 million in tax revenue. New Jersey’s online casino and poker sector could generate $400 million in revenue in 2019, based on PlayNJ.com.
“New Jersey’s internet gaming industry grew almost 22 percent in 2018 and has increased 50 percent since 2016, and that growth will continue,” said Ruddock, direct online gambling analyst for PlayNJ.com. “There are a few concrete reasons why. Two new casinos started in 2018 with online gaming, Atlantic City’s revitalization efforts continue to repay, the popularity of live dealer games that have added to an already strong portfolio of online casino games, and the legalization and launch of New Jersey sports gambling.”
For more, visit PlayNJ.com/information.
About The PlayUSA.com Network:
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SOURCE PlayNJ.com
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