New Jersey Revenue Boosted by NFL, iGaming

New Jersey is in a dreamland! The Garden State's love affair with regulated iGaming and sports betting continues through yet another online casino and betting handle record.

Marking a stellar start to the year, the sports betting handle in this state ascended by almost 21% compared to December – or 16% more than in November which held the previous record.

Overall, New Jersey operators accepted $385.3 million in wagers which is explained by the fact that state punters could bet on NFL for the first time in history.

Also...

...online casino income exceeded the $30 million mark for the first time in the history of regulated iGaming in this Eastern state!

Total Gaming Revenue Up 25%

The synergy of thriving online casino and online poker wrote a piece of history together...

...as their combined revenue surpassed the monthly $30m mark for a total operator revenue of $33.6 million for a stunning annual upswing of 53% (15.8% month-on-month)! In 2018, the NJ online casino industry made $298.7 million which was a 22% hike from 2017 – and the start of this year promises to break a yearly new record.

Total gaming revenue for January was up 25% year-on-year and stood at $229.6 million, with the slot segment growing in particular (by 15%, bringing 125.1m from a total share), while table games were down 3%.

NBA's Slam Dunk

The online betting handle in January was $305 million...

...which marked YET ANOTHER landmark, since this is the first time in New Jersey history that the segment went past the $300 million figure.

Not even the 9.6% monthly decrease in revenue (to $18.8 million) could spoil the party: with $82.1 million wagered, NFL and American football in general (as expected) contributed to a 21% of total handle share. However, last month's handle winner was the NBA, who took the proverbial cake with $135.6m in placed bets (35% of total share).

FanDuel Still the Most Lucrative

Looking at operators and gaming venues, there is not a shred of doubt who the MVP of the month is:

Again, FanDuel proved why it is held in such high regard by, being a leading online operator and bringing much rejoicing to Meadowlands that generated $7 million in revenue.

That's just a whisker in front of DraftKings/Resorts Digital conjoined effort that came close behind with $6.9 million – an increase of $200,000 since December.

Winning the casino revenue category is Borgata with its $55.8 million in profits – its online casino rose by 10%, while sportsbook made $677,500.

Source:

“NFL and igaming boost New Jersey market in January”, igamingbusiness.com, February 14, 2019.