If January is any indication of what’s in New Jersey’s future, 2020 will be a very big year for sports betting.
The New Jersey Division of Gaming Enforcement released the latest figures today. The Garden State’s sports betting handle came in at an astounding $540.1 million for the first month of 2020. That’s a hefty 40% increase from January 2019.
The sports betting gross revenue for New Jersey stands out even more, with a total of $53.6 million. That is an extremely impressive 185.2% year-over-year increase for NJ Sports.
FanDuel and DraftKings Lead the Way
FanDuel Sportsbook once again sets the pace, with several of its license holders seeing triple-digit revenue percentage increases.
Meadowlands Racetrack, home base for the FanDuel Sportsbook, had a massive 277.2% year-over-year increase, reporting $26.5 million in revenue. Most of that revenue came in from mobile devices. The total for FanDuel mobile betting was an impressive $22.2 million. PointsBet NJ accounts for a smaller portion of those results.
Resorts Digital, the home base for DraftKings Sportsbook, came in at second place, with a cool $15.9 million. That’s a robust 130.6% increase over the previous year. Also falling under that license are the Resorts-branded app and Fox Bet NJ. Combine that total with the $11.9 million internet gaming brought in, and the revenue for DraftKings adds up to a massive $27.8 million for NJ Sports.
But the biggest news is, these numbers are more than double the total gaming revenue earned by Resorts’ brick-and-mortar operation. The land-based casino earned $12.5 million.
The numbers for New Jersey’s sports betting
Below is a breakdown, by license holders, of the numbers for the state’s 17 mobile apps and 10 retail sportsbooks.
|Online Property||Online Revenue||Retail Revenue||December Total|
|TOTAL||$ 46,654,045||$ 6,907,581||$53,561,626|
|Meadowlands (PointsBet, FanDuel)||$22,197,511||$4,275,047||$26,472,558|
|Resorts (Resorts Online, Fox Bet, DraftKings)||$15,895,379||$163,436||$16,058,815|
|Monmouth (SugarHouse, William Hill, TheScore Bet)||$2,799,094||$883,716||$3,682,810|
|Borgata (Borgata Sports, BetMGM)||$2,460,264||$ 723,927||$3,184,191|
|Ocean Resort (William Hill)||$1,963,678||$377,369||$2,341,047|
|Bally’s (888, Caesars)||$491,164||$164,575||$655,739|
|Golden Nugget (GN Online, BetAmerica)||$431,643||$116,266||$547,909|
|Hard Rock (Hard Rock online, Unibet, Bet365 NJ)||$340,933||($4,467)||$336,466|
|Tropicana (William Hill)||$ 74,379||$ 100,288||$174,667|
The Borgata is making major strides; the MGM-owned license holder reported $3.2 million in revenue, which presents an incredible 370% year-over-year increase. The Borgata Sports and BetMGM mobile apps added $2.5 million to the overall total.
This time last year, only one app was live, and plans for the brick-and-mortar Moneyline Bar and Book were still on the drawing board. In that way, comparing year to year for the Borgata is not a level playing field.
The Moneyline Bar and Book is now open. The 35-foot-long bar and 19 built-in slot machines are standard fares for most sportsbooks. But the upscale restaurant setting and waitstaff make this sportsbook unique. There are a variety of food and drink options on the menu, and customers can place bets while watching the games on the video wall. There are foosball and shuffleboard tables, too.
March Madness Coming Into Play
There are quite a few big events on the 2020 sports calendar. First up, betting for March Madness starts on March 19. Next in line, is the PGA’s Masters Tournament on April 9-12. March should include heavy betting action on Tiger Woods. Let’s not forget Major League Baseball’s opening day on March 26. This year should be hot.
February’s final numbers will include betting on the Super Bowl, which is already known to be over $54 million. And that amount was wagered in the Garden State alone.
It’s clear, winter is not about to freeze out New Jersey’s enthusiasm for sports betting.