The global pandemic has impacted industries far and wide, but NJ sports betting continues to remain largely unaffected.
In February, the Division of Gaming Enforcement announced that Total Gaming Revenue rose by 15.3% year on year for the month of January. Based upon filing, Total Gaming Revenue hit $346.4m in January 2021 compared to $300.5m in January 2020.
Internet Wagering Driving NJ Sports Betting Revenue
Out of the $958.71m wagered in New Jersey, online sports betting accounted for 92% of the betting handle. Although, this is unsurprising given the COVID-19 restrictions in place at the New Jersey Casinos.
Nonetheless, online sports betting in New Jersey flourished in January with Internet Gaming Win growing 88.4% year on year to $103.8m.
|Sports Wagering Handle||Monthly Handle|
|Retail Sports Wagering||$72,061,056|
|Internet Sports Wagering||$886,656,470|
|Total Wagering Handle||$958,717,526|
Basketball leads New Jersey Betting By Sport
Basketball was the sport with the most bets wagered in January. However, with the NFL season tailing off in January this is not uncommon.
Having said this, New Jersey sportsbooks will be buoyed by the strong demand for basketball betting during the NFL off-season. Particularly, with March Madness just around the corner.
|Sport||Completed Events Handle|
|Total Completed Events Handle||$956,656,165|
PointsBet, FanDuel, and Meadowlands Dominate NJ Sports Betting
Meadowlands and its associated brands continue to lead the New Jersey betting market accounting for 40% of sports wagering revenue.
In January, Meadowlands licenses generating $46.8m in sports wagering revenue as Meadowlands increased slightly to $4.98m compared to $4.16m in December.
However, the FanDuel Sportsbook and PointsBet Sportsbook continue to lead the way in the NJ online sports betting market. Together they generated $41.81m in sports wagering revenue.