February 17, 2021 Sports Betting, Casino, Online, Land-Based

New Jersey sportsbooks earn record January win of $83m; iGaming revenue tops $100m

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New Jersey operators are off to a prolific start to 2021 as January sports betting win hit a record $83m, while the Garden State became the first jurisdiction to report $100m in monthly iGaming revenue.

Figures released Wednesday by the New Jersey Division of Gaming Enforcement show state sportsbooks recorded $959m in wagers last month, an increase of 78% year-on-year. Handle was down slightly from December 2020’s record high of $996m.

January revenue was up 29% y-o-y and shattered the previous record of $66m, also set in December 2020.

Approximately 93% of sports wagers were placed online, while retail sportsbooks generated handle of $72m.

The FanDuel Sportsbook at Meadowlands Racing & Entertainment accounted for $46.8m of last month’s sports betting revenue, with 89% ($41.8m) of its win coming via online wagers.

Resorts Casino Hotel’s partnerships with DraftKings and Fox Bet netted $15.7m of revenue, while Borgata and partner BetMGM finished third with $8.5m.

Basketball generated $320m of January’s sports betting handle, far outpacing second place football at $202m.

January online gaming revenue hit $104m, an impressive 88% increase y-o-y. Online casino play accounted for approximately $101m of iGaming revenue, while online poker generated another $2.8m.

Golden Nugget Online Gaming paced the way with $31.2m in iGaming revenue, but second-place Borgata/BetMGM were right behind with $28.7m. Golden Nugget was up 47% y-o-y, while Borgata improved 177%.

Resorts Digital Gaming/DraftKings/FoxBet/PokerStars, placed third at $22.8m.

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