NJ Sportsbooks Total Nearly $400 Million In Bets In Record January

NJ Sportsbooks Total Nearly $400 Million In Bets In Record January

NJ online sportsbooks and the NFL playoffs have turned out to be quite a profitable pair.

New Jersey sportsbooks took in $385.3 million handle during the month of January, based on reports from the New Jersey Division of Gaming Enforcement. That amount net a total of $18.8 million in revenue for the Garden State sportsbooks.

The following sportsbooks are currently offering legal NJ sports betting:

Much of that handle can be attributed to NFL playoffs betting during January, as well as new NJ sportsbooks joining the fray and opening up the market to more people who are looking to get in on the NJ online sports betting action.

Even though it was a record month for overall sports betting in New Jersey, it wasn't for NJ sports betting revenue. It was down around 10 percent from the $20.8 million pulled in the month of December. Even with $35 million in Super Bowl betting, NJ sportsbooks tallied a $4.5 million loss on the big game.

NJ Online Sportsbooks Play Huge Role In Record January

We can attribute most of the record amount of bets placed in January 2019 in New Jersey on online sports betting. Specifically, around 79 percent of sports betting in the state can be attributed to NJ online sportsbooks, an increase of three percent from December. This solidifies the popularity of placing online sports bets in New Jersey, even as Nevada normally claims January as a down month for sports betting.

DraftKings Rules In New Jersey With FanDuel Sportsbook Not Far Behind

Whether it's through sports betting apps or in-person sports betting, DraftKings Sportsbook is the top earner in the state.

DraftKings Sportsbook operates under the Resorts license, as does BetStars Sportsbook. These online sportsbooks, along with the Resorts Sportsbook app, earned a total revenue of $6.9 million in January, with DraftKings being the leader of that pack. FanDuel Sportsbook, operating in conjunction with PointsBet Sportsbook on a license from the Meadowlands Racetrack, came in second with $5.9 million in revenue for the same month.

DraftKings and FanDuel are definitely serving as driving forces behind the NJ sports betting handle and revenue being produced. And neither daily fantasy sports betting giant appears as if it'll stop earning for the state anytime soon.

NJ online casinos and NJ online poker also saw strong revenue numbers in January, earning 33.6 million for the month.

 

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