A monumental final month of 2020 helped New Jersey set an all-time annual record of more than $6 billion in total sports betting handle last year.
Gamblers placed more than $996.3 million in total wagers with Garden State sportsbooks in December, according to data released Wednesday by the state Division of Gaming Enforcement.
This is yet another all-time monthly record for any legal U.S. sports betting jurisdiction, Nevada included.
December NJ sports betting revenue came in at $66.4 million.
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Online sports betting still big winner
Like previous months, the bulk of the action came via the 19 NJ sports betting apps. They accounted for more than 93% ($929.3 million) of the total monthly handle in December.
More than $5.53 billion, or 92%, of the 2020 annual sports betting handle was from online wagers.
NJ enjoyed record-breaking 2020
December was the fifth consecutive month that New Jersey set a U.S. record in sports betting handle. Here’s a look at the recent monthly handle:
- November: $931.6 million
- October: $803 million
- September: $748.5 million
- August: $667.9 million
New Jersey’s 2020 sports betting handle is $1.4 billion more than the $4.58 billion reported last year, an increase of 24% year-over-year. Even more remarkable is that there were no major professional or collegiate sports to bet on in April, May and June of 2020 because of the coronavirus pandemic.
NJ sports betting revenue saw an increase of 33.1% over 2019. The 2020 total came in $398.5 million versus $299.3 for ’19.
FanDuel Sportsbook crushed the competition
Meadowlands Racetrack, the land-based partner of FanDuel Sportsbook and PointsBet NJ, is the biggest winner when it comes to NJ sports betting revenue.
The Meadowlands reported $33.2 million in December. It is NJ Gambling Sites’ understanding that FanDuel accounts for the bulk of the reported revenue.
To put that number into perspective, the nine Atlantic City license holders reported combined revenue of $28.9 million for the same period.
For the entire 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) placed a distant second with $100.9 million for the year.
Inches away from first $1-billion month
NJ barely missed $1 billion of monthly sports betting wagers in December, but the milestone is not impossible to reach.
With the NFL Playoffs, the recently completed NCAA College Football Playoff championship game, plus NBA and NHL regular-season action in January, NJ sportsbooks have a $1 billion month squarely in their sights.
The wild card for NJ sports betting is just how much of an impact regional competition will have. Pennsylvania’s online sports betting market is growing and New York appears ready to enter the fray.
But in 2020, NJ was king of the sports betting hill.
AP Photo/Tyler Kaufman