ATLANTIC CITY, N.J., Feb. 13, 2019 /PRNewswire/ — New Jersey sportsbooks raked in nearly $400 million in bets 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 manage, 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 regarded as a part of the offseason in 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 into 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 online sportsbooks at December.
New Jersey sports gambling revenue, or the”triumph,” 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 just short of $35 million.
“Super Bowl gambling didn’t really achieve expectations, but there were definitely some advantages,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “The NFL Playoffs generated significant activity 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 — that works under the Resorts license — fueled Resorts’ $6.9 million in January online gross earnings, 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 at The Meadowlands stays the dominant retail sportsbook, gaining $1.2 million in January gross revenue, down from $3.6 million in December. FanDuel — that represents 36% of the retail triumph in January of New Jersey — has been followed in gross earnings by Monmouth Park’s $830,792.
“The battle for market share, particularly in the online market, will continue to be interesting as the year plays out,” Gouker said. “FanDuel has gained on DraftKings in the online market. But through the total NFL season, the smaller online brands have yet to make a significant challenge to the two 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 internet casino and poker industry could generate $400 million in earnings in 2019, according to 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 gambling analyst for PlayNJ.com. “There are a few 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 that have added to an already robust portfolio of online casino games, along with the legalization and launch of New Jersey sports betting.”
For more, see PlayNJ.com/information.
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SOURCE PlayNJ.com
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