Financial

New Jersey sports betting handle hits record $385m in January

Jake Patel
Posted on February 15, 2019

The New Jersey sports betting market got off to a strong start in January with a record $385m wagered on sporting events.

Figures published by the New Jersey Division of Gaming Enforcement (NJDGE) show that sportsbooks in New Jersey held on to a total of $18.8m in January. This was a slight decrease from December’s $21m in revenue.

It is clear that mobile and online sports betting is the dominant force in the state as over 80% of bets were placed either online or on mobile devices. The figures show that just under $305m was wagered using online devices. Punters bet just over $80m on sports in-person at sportsbooks.

Out of the state’s sportsbooks, daily fantasy sports providers turned sportsbooks DraftKings and FanDuel continued to outpace other sportsbooks in the state.

The DraftKings and BetStars platform at Resorts Atlantic City (Resorts Digital) generated $7.1 in revenue while the physical sportsbook at Resorts generated $242,636.

The FanDuel sportsbook at Meadowlands generated just over $7m in revenue last month. Out of this, the online platform generated $5.8m while the land-based sportsbook generated $1.1m.

It is important to remember that Australian sportsbook PointsBet entered the New Jersey market last month and operates under a license agreement with Meadowlands. This means that PointsBet contributed a small amount to Meadowland’s figures.

After FanDuel, William Hill’s sportsbook at Ocean Resort generated over $1.2m from its online sportsbook but reported a $14,287 loss from its land-based sportsbook.

On the other hand, the William Hill sportsbook at Monmouth Park generated over $1.1m from online operations and $830,792 from its land-based sportsbook.

Aside from FanDuel and DraftKings, William Hill was the only other sportsbook to report revenue that exceeded $1m.

January’s figures also included the newly launched Hard Rock sportsbook which generated $25,235 from its land-based sportsbook. Although the figures only show the land-based sportsbook operation, these figures already exceed the sportsbook at Harrah’s which generated $20,615.

For an in-depth look at each state’s sports betting statistics check out our stats page.