New Jersey Sports Bettors Wager $540 Million In JanuarySportsbooks Won $53.5 Million, Gross Gaming Revenue Topped $300 Million |
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New Jersey sports bettors have now collectively bet more than $500 million for the third straight month after betting $540 million on sports in January.
The massive handle is actually down 3.2 percent from December, but up a whopping 40 percent year-over-year, according to numbers released Wednesday by the New Jersey Division of Gaming Enforcement.
Once again, mobile and online betting was critical to the state’s success with 87 percent of the wagers being placed through an online sportsbook. Nevada’s gaming reports are released at the end of the month, but the Silver State has never had a month with a sports betting handle of more than $500 million, making it likely that the Garden State starts off 2020 as the biggest sports betting market in the country.
Of the $540 million wagered, sportsbooks won $53.5 million, which was a big reason for the increase in the state’s gross gaming revenue.
New Jersey gaming operators won $300.7 million in January, marking a 30.9 percent increase year-over-year. The increase can be attributed to the increase in sports betting revenue thanks to a more mature market and another big spike in increase from online gamblers.
Online casinos won $55.09 million, up 64 percent year-over-year. Its brick-and-mortar counterparts won $192.1 million in the first month of the new year.
Borgata was once again the state’s most successful casino with $68.2 million in revenue, far and away the most in the state. It was up 22.3 percent from January 2019. Hard Rock Atlantic City saw the biggest boost in revenue with a 41 percent jump year-over-year. Ocean Casino Resort was up 39.2 percent and Golden Nugget experienced a 37.2 percent boost.
Bally’s, Resorts and Caesars were the only casinos to see a decline in revenue year-over-year. Bally’s was down 9.9 percent to $11.3 million, Resorts dropped 3.1 percent to $12.4 million and Caesars was down less than 1 percent to more than $17 million.
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