New Jersey Breaks Online and Sports Gambling Records

The state of New Jersey broke two more records in the month of January. Not only did the regulated online gambling market break another record in monthly revenue…

…but also licensed bookmakers set a new record for the betting handle.

On Wednesday, the New Jersey Division of Gaming Enforcement (DGE) released official January reports. According to the released numbers, the state’s online gambling operators generated $33.6 million in revenue during the month of January…

…while bookmakers handled $385.3 million worth of wagers.

Online Gambling Success

In January, online wagering saw a 53% rise compared to the revenue in the same month last year, and a $4.6 million rise compared to the numbers recorded in December.

Online casino revenue in January hit $31.7 million (58.5% higher year-on-year) which is the highest monthly revenue ever recorded in this state.

But, on the other hand, January wasn’t such a great month for online poker. The reported revenue was $1.88 million…

…around a 3.5% decline comparing to January 2018.

The best online gambling operator during the month of January this year was the Golden Nugget, with $12.18 million which is the company’s new record.

On the other hand, Resorts Digital Gaming fell in second place with $6.45 million in monthly revenue, where nearly $670k came from poker operations of The Stars Group’s PokerStars brand.

Sports Betting Above Expectations

In January, bookmakers made a new market record with $385.3 million worth of handled wagers, which is more than one-fifth up comparing to the numbers from December.

The online sports betting handle came up to $305 million, which was around 80% of the overall betting turnover…

…while the retail sports wagering handle came up to $80.3 million.

Handle from the wagers placed online rose 25% comparing to the numbers from December. On the other hand, retail sports betting handle was up just $2.2 million from the month prior.

But, the betting revenue was below the results from December. According to the official report, the betting revenue came up to a modest amount of $18.8 million, around $2 million above the previous month’s results.

Best Bookmakers

The Meadowlands racetrack and their partner, FanDuel, definitely broke all records with $7 million in overall betting revenue…

…while Resorts Digital Gaming and their partner, DraftKings, came in second with $6.9 million. The Monmouth Park racetrack ranked third with $2 million in revenue.

Ocean Resort Casino in Atlantic city sured all other gaming venues in this city with $1.27 million. It is interesting to mention that none of the other casinos in Atlantic city managed to hit a seven-figure sum last month. The Borgata casino was the closest, with $677.000.

Source:

“New Jersey sportsbooks handle record $385m in January wagers”, Steven Stradbrooke, calvinayre.com, February 13, 2019.

“New Jersey hulk-smashes online gambling revenue record”, Steven Stradbrooke, calvinayre.com, February 13, 2019.