Total New Jersey sports betting handle has surpassed $1 billion since the launch of wagering in the summer of 2018.
For the first time since sports betting in New Jersey launched last summer, month-to-month handle dropped.
Yet that does not overshadow what has been accomplished in the seven months of NJ sports betting.
The top numbers in NJ sports betting
With online and retail sportsbooks in the Garden State accepting $319.2 million in December wagers, the state’s sports betting industry finished 2018 with more than $1.2 billion in handle.
According to financials released by the Division of Gaming Enforcement on Monday, NJ sports betting handle totaled $319,173,548 last month.
While it reflects an $11.6 million dip from accepted wagers in November ($330,748,563), December’s handle, resulting in $20.8 million in gross revenue, pushed New Jersey over the $1 billion mark.
NJ sports betting apps still reign supreme
While overall revenue and handle slipped month-to-month, online sports betting continued to rise.
The state’s nine mobile sportsbooks accounted for 75.5 percent of the overall handle for a total of $241,043,289 that represents an all-time high.
Additionally, online sports betting generated $14,650,636 in revenue, the highest total since going live in August.
From DraftKings Senior Director of Digital Sportsbook Jamie Shea:
“DraftKings wrapped up 2018 as the clear leader in mobile sports betting. Always looking to deliver more for our customers, we also added casino-style games to our Sportsbook app and will continue to build out a true one-stop destination for sports fans in New Jersey and future states.”
Though the online sportsbook remains the leader, FanDuel Sportsbook closed the gap, helping Meadowlands Racetrack put up $5,532,837, the highest total of its young life.
The rest of the field in NJ sports betting
Ocean Resort Casino also reported an all-time high in sports betting revenue, though its total of $1,044,026 still ranks fourth among license holders.
Here is the rundown of all the state’s operators (William Hill NJ splits its reported revenue between partners Ocean Resort Casino and Monmouth Park):
- Resorts (DraftKings Sportsbook, BetStars NJ): $6,690,969
- Meadowlands (FanDuel Sportsbook, PointsBet): $5,532,837
- Monmouth (William Hill, SugarHouse Sportsbook): $1,296,348
- Ocean Resort Casino (William Hill): $1,044,026
- Bally’s (888 Sport, Caesars Sportsbook NJ): $108,892
- Borgata (playMGM): -$22,436
Retail NJ sportsbooks dip, but not by much
In a similar trend to overall handle, month-to-month retail sports betting revenue dropped by just a bit.
December’s total of $6,163,586 reflects a $600,000 drop-off from November. Though it still ranks as the third-best month for brick-and-mortar wagering, which went live in June 2018.
Since activating, racetracks have reported the highest monthly revenues. Such was the case again in December.
For all six months of operations, including last month, Meadowlands Racetrack has posted the highest revenue among brick-and-mortar sportsbooks. In December, the property totaled $3,577,177 for its second-best month.
FanDuel Sportsbook, which operates at Meadowlands, offered the following statement.
“December was another great month for the FanDuel Sportsbook, New Jersey’s top Sportsbook by handle and revenue. We saw significant increases in revenue for our retail and online sportsbooks and delivered holiday cheer to our customers with more than half of our online Sportsbook patrons benefiting from a promotional bonus in December.”
Meanwhile, Monmouth Park reported $1,031,336 in revenue, a decrease of just $100,000 from November, but still the facility’s third month of over $1 million since September.
Led by the tracks, retail sportsbooks totaled $6,163,586 in revenue.
The rest of the industry looks like this:
- Ocean Resort: $633,857
- Tropicana: $217,408
- Harrah’s: $215,971
- Resorts: $195,766
- Borgata: $189,677
- Golden Nugget: $82,532
- Bally’s: $19,862
Year in review sets the stage for 2019
With 2018 now in the rearview mirror, it seems fitting to put into perspective New Jersey’s first month of legalized sports betting.
In June, NJ sports betting generated $16,409,619 in handle from three operational sportsbooks. Since that time, the industry has swelled to nine brick-and-mortar facilities and nine online sportsbooks, allowing NJ sports betting to quickly grow and thrive.
To boot, PointsBet entered a soft-launch phase last month to grow the online sports betting industry yet again.
Another retail sportsbook should enter the fold in the early stages of 2019, as Hard Rock Atlantic City targeted the first-quarter launch of its operation. Also, several Pennsylvania casinos could make their way into the online sports betting world, further expanding the state’s offerings.
Certainly, 2018 was historic for New Jersey. For legalized sports betting as a whole. Now we shall see how the state can follow that up.