NFL and igaming boost New Jersey market in January
New Jersey’s gambling industry made a stunning start to 2019 by breaking its sports betting handle record by almost 20% and seeing online casino revenue pass $30m for the first time.
As New Jersey punters bet legally on the National Football League (NFL) playoffs for the first time in January, operators took in $385.3m, which was up 21% on the previous month. It was also 16% better than the previous monthly record of $330.7m, set during November 2018.
Online betting comprised 79% of the total, up on the channel's 76% share in December. Total online handle of $305.0m for January meant the segment clocked in at over $300m for the first time.
However revenue fell slightly compared to December, with the total of $18.8m representing a 9.6% month-on-month drop.
Football accounted for 21% of the total handle at $82.1m, with win margin of 9.3%.
However, with so few games taking place during the NFL playoff rounds, punters switched to the National Basketball Association (NBA), wagering $135.6m (35% of the total), with a win margin of 1.3%.
FanDuel maintained its position as the state’s leading online operator as its partner Meadowlands generated revenue of $7.0m. That figure was down 23% on December’s blockbuster $9.1m figure.
DraftKings closed in on its rival with partner Resorts Digital posting revenue of $6.9m, which was up around $200,000 on the previous month.
New Jersey’s online casino and poker market achieved its first $30m month in January. Operator revenue grew to $33.6m, up 15.8% month-on-month and 53% year-on-year. The positive start to 2019 suggests another year of growth for online casino, which made $298.7m in 2018 – up 22% year-on-year.
The state's total gaming revenue for the month was $229.6m, which was up 25% year-on-year. Slot machine win grew by 15% to $126.1m, with table game win down 3% to $51.2m.
The Borgata remains the profitable operator as it made $55.8m during January, down 3.4% year-on-year. Its sportsbook made just $677,500, with online casino up more than 10% to $4.7m.