ATLANTIC CITY, N.J., Feb. 13, 2019 /PRNewswire/ — New Jersey sportsbooks raked in nearly $400 million in bets in January as the nation’s bettors took good advantage of the first opportunity to bet legally about the NFL Playoffs. January’s record $385.3 million manage, 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 considered a part of this offseason in Atlantic City, but the crowds in the city’s sportsbooks on NFL Sundays suggest otherwise,” explained Steve Ruddock, analyst for PlayNJ.com. “In addition to creating a new revenue stream for your state, sports betting is helping transform Atlantic City into a year-round destination.”
New Jersey’s online sportsbooks accounted for $304.97 million, or 79 percent, of total bets in January. Sportsbooks made up the remaining 21 percent. That compares to 76 percent of bets flowing through internet sportsbooks in 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 reduction for New Jersey’s sportsbooks on a deal only short of $35 million.
“Super Bowl gambling didn’t really achieve expectations, but there were some positives,” said Dustin Gouker, lead sports gambling analyst for PlayNJ.com. “The NFL Playoffs generated significant action in January, and anecdotal evidence suggests visitation to Atlantic City for the weekend of the Super Bowl was way up. All in all, it was a successful first season of the NFL for New Jersey’s sportsbooks.”
DraftKings Sportsbook — which operates 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 online win of the state . FanDuel Sportsbook/Pointsbet was just behind with $5.9 million.
FanDuel Sportsbook in 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% of New Jersey’s retail win in January.
“The battle for market share, particularly in the online marketplace, will continue to be interesting as the year plays out,” Gouker said. “FanDuel has gained on DraftKings in the online market. But through the entire NFL season, the bigger online brands have yet to earn a significant challenge to both dominant forces on the marketplace.”
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 taxation revenue. New Jersey’s online casino and poker industry could generate $400 million in revenue in 2019, based on PlayNJ.com.
“New Jersey’s internet gambling industry grew almost 22% in 2018 and has grown 50 percent since 2016, and that growth will continue,” said Ruddock, lead online gaming analyst for PlayNJ.com. “There are some concrete reasons why. Two new casinos opened in 2018 with online gambling, Atlantic City’s revitalization efforts continue to repay, the popularity of live dealer games which have added to an already robust portfolio of online casino games, along with the legalization and launching of New Jersey sports gambling.”
For more, visit PlayNJ.com/information.
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