If January is a sign of what’s to come, 2020 is going to be a very big year.
New Jersey sports betting handle came in at $540.1 million for the month, which is a 40% increase from the previous January.
The New Jersey Division of Gaming Enforcement released the latest figures today.
The NJ sports betting gross revenue number of $53.6 million stands out even more. It reflects an eye-opening 185.2% year-over-year increase.
New: NJ sports betting handle for January reported at $540 million.
Nevada has never surpassed $500 million in handle in any January.
— Warren Jones (@DustinGouker) February 12, 2020
FanDuel Sportsbook sets the pace once again
Several license holders saw triple-digit revenue percentage increases.
Meadowlands Racetrack, home of the FanDuel Sportsbook, reported $26.5 million in revenue. And that is a 277.2% year-over-year increase.
The majority of the revenue, $22.2 million, came via mobile devices. PointsBet NJ accounts for a portion of the results.
DraftKings + Resorts Digital crushing it
Resorts Digital, home of DraftKings Sportsbook, is No. 2 with $15.9 million. It signifies a 130.6% increase. Fox Bet NJ and the Resorts-branded app also fall under the license.
Combined it with the $11.9 million from internet gaming revenue, and the revenue adds up to $27.8 million.
But here is the bigger thing to note: It’s more than double the total gaming revenue from Resorts’ land-based operations ($12.5 million).
Overall NJ sports betting picture
Here is a breakdown of how the 17 NJ mobile apps and 10 retail sportsbooks fared by license holders.
| Property (Online) | Online Revenue | Retail Revenue | December Total |
|---|---|---|---|
| Bally's (Caesars, 888) | $491,164 | $164,575 | $655,739 |
| Borgata (BetMGM, Borgata Sports) | $2,460,264 | $ 723,927 | $3,184,191 |
| Golden Nugget (BetAmerica, GN Online) | $431,643 | $116,266 | $547,909 |
| Hard Rock (Hard Rock online, Bet365 NJ, Unibet) | $340,933 | ($4,467) | $336,466 |
| Harrah's | --- | $107,424 | $107,424 |
| Meadowlands (FanDuel, PointsBet) | $22,197,511 | $4,275,047 | $26,472,558 |
| Monmouth (William Hill, now Caesars, SugarHouse, TheScore Bet) | $2,799,094 | $883,716 | $3,682,810 |
| Caesars NJ (Ocean Resort) | $1,963,678 | $377,369 | $2,341,047 |
| Resorts (DraftKings, Fox Bet, Resorts Online) | $15,895,379 | $163,436 | $16,058815 |
| Tropicana (William Hill) | $ 74,379 | $ 100,288 | $174,667 |
| TOTAL | $ 46,654,045 | $ 6,907,581 | $53,561,626 |
Borgata makes a big move
The MGM-owned Borgata is making major strides. The license holder reported $3.2 million in revenue, which is a 370% year-over-year increase.
The BetMGM and Borgata Sports apps accounted for $2.5 million of the overall number. This time last year, only one online skin was live, and plans for the Moneyline Bar and Book had just been announced.
So, comparing year to year is not exactly a level playing field.
Looking ahead to March Madness
There are several significant events on the ’20 sports calendar. Firstly, March Madness betting begins on March 19. Then it’s the Masters on April 9-12. Expect the month to include heavy Tiger Woods betting action.
Of course, opening day for Major League Baseball is March 26.
February numbers will include Super Bowl betting and we already know that over $54 million was wagered in NJ alone.
Clearly, New Jersey sports wagering is not about to experience a winter freeze.