New Jersey online sports wagering handle tapers off after record January
Latest Division of Gaming Enforcement figures show that online sports betting handle fell by just under $600m from month to month in February
The New Jersey Division of Gaming Enforcement (DGE) has released February figures showing a decline in online sports wagering handle and revenue following a record January.
Online sports wagering handle totaled $1.04bn, a major drop off from the $1.67bn recorded in January, a record high for the Garden State.
Total revenue for sports betting in the market landed at $67.6m during February, which was down on January’s return of $170.8m.
However, comparing February 2024 to February 2023, revenue was up 23.7% against $54.6m.
On an individual operator basis, Resorts Digital, which includes DraftKings as a market-access partner, had the biggest growth year on year (YOY), going up 97.2% from $12.2m in online sports betting revenue to $24.2m over the period.
This figure was still far behind Meadowlands Racetrack, which includes FanDuel and Superbook as online licensees, that reported a revenue increase of 9.3% from $32.1m to $35.1m.
Borgata, which covers BetMGM, secured a podium position in third place with revenue rising 10.5% to $4.5m.
Meanwhile, Hard Rock (mainly bet365) posted a 191.5% spike in revenue from $1.3m to $3.7m for the month.
Elsewhere, online casino and poker revenue, reported as internet gaming win, rose by 27.9% YOY to $142.6m, but this was a just over $40m drop from January’s figure of $183.3m.
Resorts Digital (DraftKings, PokerStars, and ESPN Bet) and Golden Nugget (Golden Nugget Online Casino, FanDuel, and BetRivers) were the leading operators in this vertical, posting revenue of $48m and $51.5m, respectively.
Overall, total gaming revenue for the state in February, including land-based revenue, increased 12% YOY from $412.2m to $461.5m.