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 nation’s bettors took good advantage of the 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 accumulated in December.
“January has historically been regarded as part of the offseason in Atlantic City, but the crowds in the city’s sportsbooks on NFL Sundays suggest otherwise,” said Steve Ruddock, analyst for PlayNJ.com. “In addition to creating a new revenue stream for your country, sports betting 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. Sportsbooks made up the remaining 21 percent. That compares to 76 percent of 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, which ended with a $4.5 million reduction for New Jersey’s sportsbooks on a handle only short of $35 million.
“Super Bowl gambling didn’t quite achieve expectations, but there were some advantages,” said Dustin Gouker, lead sports gambling analyst for PlayNJ.com. “The NFL Playoffs generated considerable activity in January, and anecdotal evidence indicates visitation to Atlantic City for the weekend of the Super Bowl was far 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 license — fueled Resorts’ $6.9 million in January online gross earnings, up from $6.7 million in December. Resorts accounted for 48% of the state win . FanDuel Sportsbook/Pointsbet was just behind with $5.9 million.
FanDuel Sportsbook at The Meadowlands remains the dominant retail sportsbook, getting $1.2 million in January gross revenue, down from $3.6 million in December. Monmouth Park’s $830,792 — followed in gross revenue fanDuel — which represents 36% of the retail triumph in January of New Jersey.
“The struggle for market share, especially in the internet market, will be fascinating as the year ends,” Gouker said. “FanDuel has gained on DraftKings in the online market. But throughout the entire NFL season, the smaller online brands have yet to make a substantial 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 can 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 increased 50 percent since 2016, and that growth will continue,” said Ruddock, direct online gambling analyst for PlayNJ.com. “There are a few concrete reasons why. Two new casinos opened in 2018 with online gaming, Atlantic City’s revitalization efforts continue to pay off, 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, visit PlayNJ.com/information.
Concerning The PlayUSA.com Network:
The PlayUSA.com Network and its own state-focused branches (including PlayNJ.com and PlayPennsylvania.com) is a leading source for news, analysis, and study regarding the market for regulated online gambling in the U.S.
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SOURCE PlayNJ.com
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