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New Jersey Sports Betting Boosted in January by Football Playoffs, According to PlayNJ.com Analysts

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ATLANTIC CITY, N.J., Feb. 13, 2019 /PRNewswire/ — New Jersey sportsbooks raked in almost $400 million in stakes in January since the state’s bettors took advantage of their first opportunity to wager legally about the NFL Playoffs. January’s album $385.3 million handle, which totaled $18.8 million in revenue, was up from the $319.2 million New Jersey’s online and retail sportsbooks collected in December.
“January has historically been considered a part of the offseason at Atlantic City, but the crowds in the city’s sportsbooks on NFL Sundays suggest differently,” said Steve Ruddock, analyst for PlayNJ.com. “In addition to creating jobs and a new revenue stream for the state, sports gambling is helping transform Atlantic City to 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 total 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, that 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 considerable action in January, and anecdotal evidence indicates visitation to Atlantic City for the weekend of the Super Bowl was way up. Overall, it was a successful first season of the NFL for New Jersey’s sportsbooks.”
DraftKings Sportsbook — which operates under the Resorts license — fueled Resorts’ $6.9 million in January online gross revenue, up from $6.7 million in December. Resorts accounted for 48 percent of the online win of the state for the month. FanDuel Sportsbook/Pointsbet was just behind with $5.9 million.
FanDuel Sportsbook in The Meadowlands remains the dominant retail sportsbook, gaining $1.2 million in January gross revenue, down from $3.6 million in December. Monmouth Park’s $830,792 — followed in gross earnings fanDuel — that represents 36% of the retail win in January of New Jersey.
“The struggle for market share, particularly in the online marketplace, will continue to be fascinating as the year plays out,” Gouker said. “FanDuel has gained on DraftKings in the internet sector. But through the entire NFL season, the smaller online brands have to earn a substantial challenge to both dominant forces in the marketplace.”
LEGAL ONLINE CASINOS
Legal online casinos generated 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 sector could generate $400 million in earnings in 2019, based on PlayNJ.com.
“New Jersey’s internet gaming industry grew almost 22% in 2018 and has increased 50 percent since 2016, and that expansion will continue,” said Ruddock, lead online gambling analyst for PlayNJ.com. “There are some concrete reasons why. Two new casinos opened in 2018 with online gaming, Atlantic City’s revitalization efforts continue to pay off, the prevalence of live dealer games which have added to an already strong portfolio of online casino games, and the legalization and launch of New Jersey sports betting.”
For more, visit PlayNJ.com/information.
About The PlayUSA.com Network:
The PlayUSA.com Network and its own state-focused branches (including PlayNJ.com and PlayPennsylvania.com) is a major source for information, analysis, and research regarding the market for regulated online gaming in the U.S.
Media Contact:
Zack Hall, PR & DVA Advertising 541-389-2411
209396@email4pr.com
SOURCE PlayNJ.com
Related Links
https://www.playnj.com

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