No January Chill: NJ Sports Betting Handle Hits Half-Billion Mark

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.

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.

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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.

About the Author

Bill Gelman

Bill Gelman is a veteran sports writer based just outside of Philadelphia and not too far from the Jersey Shore. Bill spends time in Atlantic City writing about casino openings and expansions, special events and world championship boxing at Boardwalk Hall. He is now adding NJ sports betting and online gambling to the mix.