The NJ sports betting market started 2021 the same way it closed out 2020: white hot.
For the second straight month, the statewide sports betting handle just missed the $1 billion mark.
According to the state Division of Gaming Enforcement, $958.7 million was wagered on sports in January.
That figure is only $37.6 million less than the all-time U.S. record set in December.
Atlantic City casino revenue, Jan '21
Casino win (slots/tables): $160 million (-16.7%)
Online: $103.77 million (+88.4%)
Sports: $32 million (+36.7%)
Total: $295.78 million (+9.3%)
Sports: $82.64 million (+54.3%)
Total: $346.42 million (+15.2%)
— David Danzis (@AC_Danzis) February 17, 2021
Online sports betting is still king in NJ
Similar to prior reporting periods, a bulk of Garden State sports wagers came from the 19 authorized betting apps. The DGE figures show that $886.7 million, or more than 92% of the total handle, was bet online.
In 2020, more than $5.53 billion, or 92%, of the $6 billion annual sports betting handle was from online wagers.
Meadowlands + FanDuel get biggest slice
January NJ sports betting revenue came in at $82.64 million, an increase of 54% over the same period last year.
Meadowlands Racetrack, the land-based partner of FanDuel Sportsbook and PointsBet NJ, continues to dominate the market.
The Meadowlands reported $46.8 million in sports betting revenue ($41.8 million of which came from online) last month. It is NJ Gambling Sites’ understanding that FanDuel accounts for the bulk of the reported revenue.
By comparison, the nine Atlantic City casino sportsbooks and their online partners accounted for $32 million in combined revenue.
Last year, the Meadowlands and its online partners generated more sports betting revenue ($206.5 million) than every Atlantic City casino and their online operators combined ($166.3 million).
In terms of other license holders, Resorts Digital (DraftKings Sportsbook, Fox Bet, and Resorts) were second with $15.7 million for the month.
Coming in third is Borgata Hotel Casino & Spa with $8.46 million. The Atlantic City market leader’s online sportsbooks include Borgata Sports and BetMGM.
So close, yet so far
NJ barely missed $1 billion in monthly sports wagers for the second consecutive month. With the NFL season complete, the milestone is likely out of reach for the foreseeable future.
However, NJ gamblers aren’t beholden to the betting behemoth that is the NFL. Basketball is a sport that routinely sees a lot of action at NJ sportsbooks.
Last month, more than $320 million was wagered on completed basketball events, compared to $201.77 million on pigskin.
February got off to a strong start with $117 million in Super Bowl 55 bets.
In terms of how the other sports did, we will have to wait until March 16 to find out.
AP Photo/Mike Roemer