New Jersey January Sports Betting Handle Falls Short of $1B

TopNjCasinos.com

By Lou Monaco

The $1 billion mark in New Jersey sports betting handle was just out of reach for another month.

New Jersey’s January sports betting handle was $958.7 million — the second-best month ever —according to January numbers released by the NJ Division of Gaming (NJDGE). And the sports betting revenue of $82 million broke the state and national record by more than $15 million.

The Garden State topped $900 million for the third straight month in total sports betting handle. January’s total was down 3.8% from December’s record $996.3 million, but up 77.5% from January 2020’s $540.1 million.

The online/mobile handle in January was $886.7 million, down 4.6% from last month’s national record of $929.3 million, but up 88.2% from January 2020’s $471.1 million. Mobile was 92.5% of the total sports handle in January.

Neighbor Pennsylvania announced its January numbers Wednesday and broke $600 million in sports betting handle for the first time in state history at $615.3 million. Between the two states, total sports betting handle was $1.574 billion dollars for the month.

The total sports betting handle at New Jersey sportsbooks for 2020 was just over $6 billion, a 30.4% increase over 2019’s $4.6 billion. Of the total handle in 2020, $5.53 billion was wagered online — about 92%. Sports wagering revenue for 2020 was $398.5 million. Though January was down slightly from December, the start to 2021 is $418 million more than the start of 2020.

New Jersey Sports Betting, January vs December

Total handle Mobile handleRevenue
January $958.718M $886.656M $82.641M
December $996.301M $929.332M $66.387M
Change Down 3.8% Down 4.6% Up 24.5%

New Jersey Revenue Sets State Record

The January report also showed that New Jersey sports betting revenue set a state and national record at $82.6 million, up 24.5% from December’s $66.4 million (the previous national mark) and up 54.3% from January 2020’s $53.6 million.

Before New Jersey did it in December, the only time any state had sports betting revenue top $60 million in a month was Nevada, at $61.8 million in November 2020.

Taxes collected from sports wagering totaled $10.36 million, with most coming from the 13% levy on online wagers, $9.64 million.

January total gaming revenue was $346.4 million, up a solid 10.7% from December’s $312.9 million and an increase of 15.2% over January 2020’s $300.7 million.

January’s iGaming win was $103.8 million, up 4.3% from December’s $99.5 million and up 88.4% from January 2020’s $55.1 million.

New Jersey Sports Betting, January 2021 vs January 2020

Total handle Mobile handleRevenue
January 2021 $958.718M $886.656M $82.641M
January 2020 $540.113M $471.149M $53.562M
Change Up 77.5% Up 88.2% Up 54.3%

Strong Start to February in NJ

New Jersey reported a handle of $117.4 million on the Super Bowl, an increase of 116% over last year’s game. New Jersey sportsbooks won a net $11.3 million (about 9.6% hold), according to the NJDGE.

The Super Bowl betting in New Jersey was just behind the leader, Nevada, which saw $136.1 million wagered on the big game.

In the week leading up to Super Bowl, New Jersey Gov. Phil Murphy raised the capacity level for bars and dining establishments from 25% to 35% and lifted the 10 p.m. deadline to close for those businesses. That relief helped, especially at casinos and sportsbooks.

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WRITTEN BY
TopNjCasinos.com
Lou Monaco
Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
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Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
... Read More