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Sportsbook

New Jersey Sports Betting Shows February Strength, According to PlayNJ.com Analysts

Thursday 14 de March 2019 / 13:37

2 minutos de lectura

(Atlantic City).- New Jersey's sportsbooks took in more than $320 million in February bets, generating strong monthly revenue despite a short month and a predictable post-Super Bowl lull. In all, New Jersey's online and retail sportsbooks netted $12.7 million in revenue on $320.4 million in sports bets, down 16.8 percent from a record $385.3 million wagered in January.

New Jersey Sports Betting Shows February Strength, According to PlayNJ.com Analysts

The February handle works out to $46 per adult resident of New Jersey, significantly larger than any other legal sports jurisdiction, other than Nevada.


"Because of the strength of New Jersey's online product, in-play betting during the Super Bowl was significantly stronger in New Jersey than in other legal markets," said Dustin Gouker, lead sports betting analyst for PlayNJ.com. "In addition, New Jersey's sportsbooks saw significant action on other sports, particularly on college basketball and the NBA. It adds up to another very good month for New Jersey even after a somewhat disappointing Super Bowl handle."


New Jersey's online sportsbook brands accounted for $258.9 million, or 80.8 percent, of total bets in January, according to official reporting. The state's retail sportsbooks made up the remaining 20.2 percent. That compares to 79.2 percent of total bets flowing through online sportsbooks in January.


"New Jersey's sports betting market is less driven by major events than in Nevada, and February's numbers bear that out," Gouker said. "The market's consistency will eventually help New Jersey overtake Nevada as the largest legal sports betting market in the U.S., which is now more a question of when rather than if."


FanDuel Sportsbook/Pointsbet overtook DraftKings Sportsbook as the state's dominant online sportsbook with $6.6 million in February gross revenue, up from $5.9 million in January. DraftKings Sportsbook fueled Resorts' $3.7 million in February online gross revenue, down 46 percent from $6.9 million in January.


FanDuel Sportsbook at The Meadowlands continues to dominate the retail market, posting $1.5 million in February gross revenue, up from $1.2 million in January. FanDuel was followed by Resorts AC's $142,846.


"DraftKings and FanDuel show few signs of relinquishing their top spots," Gouker said. "But with football now over, it will be interesting to see if a change in focus to college basketball and Major League Baseball alters the dynamic in the coming months."


LEGAL ONLINE CASINOS


A month after crossing the $30 million threshold for monthly revenue for the first time, legal online gambling generated $31.8 million in February, up 44 percent from $21.99 million in February 2018. Though monthly revenue was down from a record $33.6 million in January, the industry generated $1.1 million per day in the 28 days of February, even with the 31 days in January.


"New Jersey's online casinos are among the biggest beneficiaries of legalized sports betting," said Steve Ruddock, lead online gambling analyst for PlayNJ.com. "Online casino revenue has grown by at least 25 percent in seven of the eight months since online sportsbooks made their first appearance in the Garden State. It would not be surprising if the industry hits $40 million in monthly revenue at some point before 2019 has ended."

Categoría:Sportsbook

Tags: Sports Betting, Sportsbook ,

País: United States

Event

BiS SiGMA Américas 2025

07 de April 2025

BiS SiGMA Americas 2025: The ideal platform for Pay4Fun to showcase its leadership in Brazil’s regulated market

(Sao Paulo, SoloAzar Exclusive).- Leonardo Baptista, CEO and co-founder at Pay4Fun highlighted the relevance of its participation in BiS SiGMA Amercias as a key opportunity to showcase its solid positioning in the Brazilian regulated market, and also highlighted the event as an ideal platform to establish strategic partnerships in Brazil and Latin America.

Friday 25 Apr 2025 / 12:00

Altenar Highlights Success at BIS SiGMA Americas 2025, Strengthening LATAM Gaming Opportunities

(Sao Paulo, SoloAzar Exclusive).- Altenar Sales Director Diego Salas granted an interview to SoloAzar, in which he evaluated the performance of the firm at BIS SiGMA Americas, where Altenar showcased its sportsbook solution. “The event definitely helped move some key opportunities forward,” he said. 

Friday 25 Apr 2025 / 12:00

Atlaslive’s Highlights from BiS SiGMA Americas 2025

(São Paulo).- Atlaslive proudly announces its successful participation in BiS SiGMA Americas 2025, where the company launched a cutting-edge sports betting platform meticulously designed for the Brazilian market. This event represented a valuable opportunity for Atlaslive to connect with industry leaders, forge strategic partnerships, and discuss the evolving landscape of gaming in Latin America.

Thursday 24 Apr 2025 / 12:00

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