New Jersey February sports betting handle hits $743m

New Jersey sportsbooks reported handle of $743m in February, a 50% year-on-year increase.

Sports betting revenue was $46m, a 172% increase from the same month a year prior. New Jersey took in nearly $6m in state taxes off sports betting.

Though New Jersey’s February handle is sure to lead the nation, the state’s sportsbooks saw a significant drop from the $959m wagered in January. Revenue was down 48% from January’s record high of $83m.

Online wagers accounted for 93%, or $689m, of the monthly handle, while retail sportsbooks generated $54m of wagers.

Meadowlands Racetrack’s two skins, FanDuel and PointsBet, produced $27m of revenue to lead the state with $25m of its win coming online wagering.

Resorts Digital/DraftKings/Fox Bet placed second with earnings of $7.7m, while Borgata/BetMGM was third with $5m.

Retail casinos saw profits of $148m for the month, down 32% y-o-y. Slot machine win was $108m, down 31%, while table game win was $40m for a decrease of 34%.

Internet gaming revenue was $94m, an increase of 80% y-o-y. Online casinos accounted for more than $91m of revenue with online poker generating $2.5m.

Golden Nugget earned iGaming win of $28m to lead the state, while Borgata was right behind at $26m. Resorts Digital placed third with $20m.

Ezra Amacher

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