ATLANTIC CITY, N.J., Feb. 13, 2019 /PRNewswire/ — New Jersey sportsbooks raked in nearly $400 million in stakes in January as the state’s bettors took good advantage of their first opportunity to bet legally on the NFL Playoffs. January’s album $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 collected in December.
“January has historically been regarded as part of this offseason at Atlantic City, but the crowds in town’s sportsbooks on NFL Sundays suggest differently,” explained Steve Ruddock, analyst for PlayNJ.com. “In addition to creating a new revenue stream for your country, sports gambling 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. Retail sportsbooks made up the remaining 21 percent. That compares to 76 percent of bets flowing through sportsbooks in December.
New Jersey sports betting 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 betting 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 works under the Resorts permit — fueled Resorts’ $6.9 million in January online gross revenue, up from $6.7 million in December. Resorts accounted for 48% of the nation’s online win for the month. FanDuel Sportsbook/Pointsbet was just behind with $5.9 million.
FanDuel Sportsbook in The Meadowlands stays the dominant retail sportsbook, gaining $1.2 million in January gross earnings, down from $3.6 million in December. Monmouth Park’s $830,792 — followed in revenue fanDuel — that represents 36% of New Jersey’s retail win in January.
“The struggle for market share, especially in the online market, will continue to be fascinating as the year plays out,” Gouker said. “FanDuel has obtained on DraftKings in the internet market. But throughout the total NFL season, the smaller online brands have to make a significant challenge to both dominant forces in the market.”
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 revenue in 2019, based on PlayNJ.com.
“New Jersey’s internet gaming industry grew almost 22 percent 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 pay off, the popularity of live dealer games that have added to an already strong portfolio of online casino games, and the legalization and launch of New Jersey sports gambling.”
For more, see PlayNJ.com/information.
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SOURCE PlayNJ.com
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