Nearly $400 million have been raked in by the New Jersey notebooks in bets in January. This was a result of the bettors taking advantage of their first ever opportunity to bet legally bet on NFL Playoffs.
In December New Jersey’s online and retail sportsbooks collected $319.2 million and January saw a record handle of $385.3 million.
“Super Bowl betting didn’t quite reach expectations, but there were definitely some positives,” said lead sports betting analyst for PlayNJ.com, Dustin Gouker. “The NFL Playoffs generated significant action in January, and anecdotal evidence suggests visitation to Atlantic City for the weekend of the Super Bowl was way up. All in all, it was a successful first season of the NFL for New Jersey’s sportsbooks.”
The New Jersey sports betting revenue was down by 9.9% from $20.8 million in December. Furthermore, January’s results followed an underwhelming Super Bowl performance, thus ending with a $4.5 million loss for New Jersey’s sportsbooks.
“The battle for market share, particularly in the online market, will continue to be fascinating as the year plays out,” Gouker elaborated. “FanDuel has gained on DraftKings in the online market. But through the entire NFL season, the smaller online brands have yet to make a significant challenge to the two dominant forces in the market.”
The dominant retail sportsbook was FanDuel Sportsbook, which gained $1.2 million in January gross revenue.
The Online Casinos
A major player are the legal online casinos which managed to generate a record $33.6 million in January and $5.9 million in tax revenue. This figure is expected to go up for New Jersey’s online casino and poker industry in 2019 according to PlayNJ.com.