Even though there were slight decreases in sports betting handle and revenue, New Jersey sportsbooks still closed December above the magic $1 billion mark.
December’s total sports wagering handle was more than $1.055 billion, a mild 4.1% decrease from November’s $1.102 billion. It was, however, down a more significant 14.2% from December 2021 (more than $1.229 billion).
The official monthly figures were released Tuesday afternoon by the New Jersey Division of Gaming Enforcement (NJDGE).
The $1 billion mark was hit for the third consecutive month and fourth of the last five to close out the year.
Mobile sports betting handle posted at more than $998.39 million, down 3.3% from November (more than $1.032 billion) and down 10.1% from December 2021 (more than ($1.11 billion).
New Jersey sports betting apps increased to 94.6% in the holiday month, an uptick of 0.9% from November’s 93.7%. That was the seventh consecutive month over 90%.
One positive sign from the report is December’s sports betting revenue posted at more than $87.7 million, a nice 9% increase from November and a whopping 48.5% better than December 2021 (more than $59.04 million).
Closing Out Year on High Handle Note
Total sports betting handle for 2022 stayed the course, generating more than $10.944 billion, an uptick of 0.08% from more than $10.936 billion in 2021.
Last year’s total sports betting revenue registered more than $762.95 million, down 6.5% from 2021 (more than $815.75 million).
Solid Revenue Returns for Internet, Total Gaming
New Jersey online casinos and total gaming revenue celebrated a month to remember.
Total gaming revenue for the month was more than $454.78 million, a nice 3.1% increase from November’s $441.12 million. Even better, it was a solid 12.5% better than December 2021 (more than $404.08 million).
December’s internet gaming for the Garden State was more than $151.45 million, up 3.6% from last month (more than $146.15 million) and up 13.7% from December 2021 ($133.21 million).
“Even up against strong seasonal and economic headwinds, brick-and-mortar gaming revenues for December 2022 outperformed both December 2021 ($211.82 million) and December 2019 ($208.55 million) to deliver the strongest December brick-and-mortar revenue returns in 10 years,” said Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at Stockton University School of Business. (Here is a Q and A with Bokunewicz from last year.).
“Despite lower returns in recent months, strong performance early in the year along with a strong December showing set up 2022 year-end, total brick-and-mortar revenues to exceed both year-end 2021 ($2.55 billion) and year-end 2019 ($2.69 billion) totals,” she said. “This may be an indicator that the industry has recovered to pre-pandemic levels of brick-and-mortar gaming activity - an encouraging sign for the industry as a whole.
“Online gaming, 35% of total gross gaming revenue for the year, continues to be a game changer, driving the Atlantic City casino industry to a new near-term record for both December monthly and year-end, total gross gaming revenue. The diversification of gaming products to include both online gaming and sports betting has pushed the industry statewide (including racetracks) to totals not seen since 2006.”
A very good sign, indeed, for the state moving forward.
TopNJCasinos.com will continue to cover gambling news and monthly state revenue reports, as well as offer the best NJ online casino bonuses.
