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NEW JERSEY SPORTS BETTING AND ONLINE GAMBLING HIT $1 BILLION MILESTONES


Sportsbooks take in more than $1 billion in bets in less than seven months 06E3EC43-FA17-4B77-B543-BADEB730A573

(ATLANTIC CITY, N.J.) — New Jersey ended 2018 on a billion dollar note, surpassing more than $1 billion in sports bets for the year and crossing the $1 billion mark in lifetime gross revenue generated by legal online gambling. And with “The Big Game” just ahead, the stage is set for more impressive milestones, according to analysts for PlayNJ.com.

“New Jersey’s sportsbooks are in position to generate a $100 million handle from just that single game, which is the most significant single sports-betting event in the U.S.,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “Nevada’s handle was nearly $160 million last year for the one game, and New Jersey’s young market is already showing many of the same trends. And we know operators in New Jersey will be aggressive in attracting bettors. 

If December was any indication, New Jersey’s sports books are in for a strong showing. According to official reporting released Monday:

  • New Jersey’s online and retail sportsbooks collected $319.2 million in bets in December, down 3.5 percent from $330.7 million in November.
  • Revenue from sports betting hit $20.8 million in December, down from $21.2 million in November. The record of $23.96 million was set in September.
  • The state’s sportsbooks have collected $1.25 billion in bets since June, the first month of legal sports betting. $780.6 million, or 63 percent, of sports bets flowed through online sportsbooks. Retail sportsbooks made up the remaining 37 percent.
  • New Jersey's online sportsbooks continued to take in the lion’s share of bets in December, accounting for $241.05 million, or 76 percent. That compares to 72 percent of total bets flowing through online sportsbooks in November.

“New Jersey’s strong month actually bucks a trend seen in Nevada, where sports betting typically cools a bit in December,” Gouker said. “Growth in a typically slower month crystalizes the strength of New Jersey’s growing sports betting market. The popularity of online sports betting is a chief reason, making it easier for gamblers to place bets, even as the time demands of the holiday season are in full bloom.”

DraftKings Sportsbook — which accounts for nearly all of Resorts’ online revenue — remains the most dominant force in online sports betting. The brand fueled Resorts to $6.7 million in online gross revenue in December, down 6.7 percent from $7.2 million in November. Resorts accounted for 45.6 percent of the state’s online win in December. But its market lead narrowed, led by:

  • FanDuel Sportsbook/Pointsbet ($5.5 million, up from $4.4 million in November)
  • Monmouth/William Hill/Sugarhouse ($1.3 million, up from $1.2 million)
  • Ocean Resort/William Hill ($1.05 million, up from $915,930)
  • Caesars Sportsbook and 888sport ($108,892, down from $205,046)
  • playMGM/Borgata (-$22,436, down from $194,212)

FanDuel Sportsbook at The Meadowlands continues to dominate the retail sportsbook market. FanDuel, which is the beneficiary of nearby New York bettors, gained $3.6 million in December gross revenue, up 37 percent from $2.6 million in November. FanDuel pocketed 58 percent of the entire retail win in December, compared with 42 percent in November. FanDuel was followed in gross revenue by:

  • Monmouth Park ($1.03 million, down from $1.2 million)
  • Ocean Resort Casino ($633,857, down from $1.9 million in November)
  • Tropicana Casino ($217,408, up from $108,751)
  • Harrah’s AC ($215,971, up from -$124,260)
  • Resorts AC ($195,766, up from $158,332)
  • Borgata ($189,677, up/down from $877,835)
  • Golden Nugget ($82,532, up/down from $130,874)
  • Bally’s AC ($19,862, up from -$26,557)

“Name recognition and an early entrance into the market has made DraftKings and FanDuel the most dominant players in the market, and that advantage will continue in the near-term,” Gouker said. “But as 2019 plays out, other operators will adjust and could begin to eat into their market share. 

LEGAL ONLINE GAMBLING HITS $1 BILLION DURING RECORD-BREAKING MONTH

New Jersey’s online casino and poker industry hit its most impressive milestone yet during a record December. Legal online gambling generated $29 million in December, up from $26.9 million in November, to push the industry to $1.02 billion in revenue since launch in 2013.

In 2018 alone, online gambling was able to generate a record $298.7 million in 2018 revenue, up from $245.6 million tallied in 2017. The revenue has been crucial, too, injecting $178.7 million into government coffers since launch and $52.3 million in 2018 alone.   

“Online gambling’s growth has been perpetual since launch, and 2019 offers few reasons that it will slow down,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “Online gambling could generate more than $350 million in 2019, and the taxes from that revenue will continue to be a boon to the state budget. 

Some important online casino and poker data from the December report:

  • The Golden Nugget — home to the Golden Nugget, Betfair, and SugarHouse online casino brands, generated a record $10.2 million in December, up from $9.2 million in November. December raised the market leader’s 2018 tally to $104.9 million for the year to become first operator to reach $100 million in a single year.
  • The industry generated $935,750 per day in the 31 days in December, up from $898,136 per day in the 30 days in November.
    Online casino games generated $27.2 million in December, up from $25.4 million in November. Online poker hit $1.8 million in December, up from $1.6 million.

For more information and analysis on regulated online gaming in New Jersey, visit PlayNJ.com.

About The PlayUSA Network:
The PlayUSA Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

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