NJ December Betting Revenue Hits $24m, Handle Slightly Down From November

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New Jersey sports betting operators ended 2019 on strong numbers. The combined retail and online sports betting for December was $24.42, up 41.1% from the same month last year, but down $3.5m from November. Betting handle for the month came in at $557.8m compared to November’s record $562.7m haul. Digital bets generated a handle of $488.93m for the month, equaling 87% of the total.

December revenue report

Borgata Hotel Casino & Spa recorded over $2m in sports wagering revenue, with retail sports betting and online betting revenues of $1.2m and $995,096 respectively. Ocean Casino Resort reported online sports betting revenue of $1.2m while land-based betting operations generated $67,260.

Casino/SportsbookSports Wagering Revenue
Bally’s Park Place LLC$173,196
Borgata Hotel Casino & Spa$2,222,199
Golden Nugget$168,830
Harrah’s Atlantic City$107,646
Hard Rock Atlantic City$345,624
Ocean Casino Resort$1,297,319
Resorts Casino Hotel$406,493
Resorts Digital Gaming LLC$9,331,085
Tropicana Casino & Resort$104,673

Racebooks had a stellar month, with New Meadowlands Racetrack LLC claiming the highest betting revenue, at $14.5m, while Monmouth Park took in $2.5m.

Monthly vs Year-to-date handle

Sports Betting Handle December Handle YTD Handle
Retail sports betting $68,854,782 $747,378,197
Online sports betting $488,931,379 $3,835,563,744
Total $557,786,161 $4,582,941,931

Source: NJDGE

18 months of spectacular growth

NJ online sport betting has gone from strength to strength since it first kicked off on June 14, 2018, with two retail sportsbooks statewide (the first bets were taken at Monmouth Park Racetrack and Borgata Hotel Casino & Spa). It was the culmination of a seven-year fight to legalize sports wagering, led by former state senator Raymond Lesniak and former governor Chris Christie. Today, ten retail books at Atlantic City casinos and North Jersey racinos, and 17 sportsbooks apps cater to sports wagering enthusiasts. In 2018, DraftKings rolled out mobile sports betting in New Jersey via their sportsbook app.

Overall revenue for 2019 tripled over the previous year, making a strong statement about NJ’s increasing sports betting dominance vis-à-vis Nevada, whose sports betting handle has also shown year-over-year increases. In November, combined revenue for Nevada and New Jersey topped the $1b mark. Football attracts the most bets in terms of betting handle, followed by basketball, baseball and parlays.

Sports betting is not legal in New York, and unsurprisingly, New Jersey benefits from the patronage of New Yorkers. Sportsbook FanDuel, which operates at Meadowlands Racetrack, is extremely popular with New York’s wagering enthusiasts. The sportsbook recently revealed that 25% of its users registered with New York addresses. Apart from betting at FanDuel, bettors arriving from New York also place bets at train platforms, parking lots and service stations.

Even as sports betting growth remains robust, casino remains king of NJ online Gambling. It will be interesting to see how both fare as we head further into 2020.

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