New Jersey reveals year-on-year market growth in February
The New Jersey Division of Gaming Enforcement (NJDGE) has reported a year-on-year increase in revenue across all market sectors in February, despite the sports betting sector reporting a significant month-on-month decline.
Sports wagering revenue for the month amounted to $17.0m (£13.5m/€15.2m), which was 33.8% higher than $12.7m in February last year, but 68.3% down on $53.6m posted in January of this year. Incidentally, the January 2020 figure was the highest ever monthly revenue total recorded in the state.
Consumers wagered a total of $494.8m on sports in February, which was 54.4% more than in the same month last year. The majority of betting was conducted online, with players spending $436.5m online and $58.3m at retail sportsbooks.
Handle for the year to date has already surpassed $1bn, standing at $1.03bn for the first two months of 2020.