NJ sportsbooks generate $1.2b handle and $59m hold in December

New Jersey’s sports betting handle was down by 2.6% in December, according to the latest monthly revenue report released by the state’s Department of Gaming Enforcement (DGE).

The figures show that NJ sportsbooks took in $1.23 billion in bets for the month, down from $1.26 billion in November. The amount was however 23% higher than the $996.3 million reported in December 2020.

Just like the betting handle, the revenue generated by the activity also declined month-on-month as licensees across the state combined to hold $59.0 million. The win for the month showed a decrease of 48.6% from November’s record hold of $114.8 million, and it was 11.1% lower than the $66.4 million won in December 2020.

The amount generated by the industry in tax revenue in December tallied $7.5 million, down by 48.6% from the $14.6 million collected in the month prior.

Mobile betting continues to drive NJ market

A closer look at the numbers reveals that an overwhelming majority of bettors in the state placed their wagers via mobile sportsbooks.

The total amount handled by online and mobile operators during the month was $1.11 billion, which represents 90.3% of the overall handle. Compared to November’s $1.14 billion, December’s internet handle was down by a slight margin of 2.6% month-on-month, but it was 19.4% higher than the $929.3 million posted in December 2020.

Retail sportsbooks generated $119.3 million in handle for the month, an increase of 4.6% from the $114.0 million reported in November.

When it comes to betting markets, football was the most popular market in the state as bettors staked $398.9 million on the sport during the month. Basketball came a close second with $384.4 million in handle, with parlay cards taking the third spot with $262.6 million in handle.

The amount wagered on baseball was $45.2 million, while all other sports combined to generate $167.6 million in handle.

NJ sets national record with $10.9b yearly handle

The numbers for December pushed the Garden State’s year-to-date sports betting handle to $10.9 billion, an increase of 81.7% from 2020’s $6.0 billion. Online wagering accounted for 90.8% of the total betting handle for the year at $9.9 billion.

The DGE report also shows that New Jersey sportsbooks won a combined $815.8 million in 2021, up by 104.7% from 2020’s $398.5 million. The tax revenue generated by the industry through the year was $102.6 million, an increase of 102% from the $50.8 million reported in 2020.

New Jersey is the first state to report $10 billion in sports betting handle in a single year.

Meadowlands maintains lead in NJ betting scene

The Meadowlands Racetrack continued to top New Jersey’s sports betting market in December after reporting $30.0 million in revenue for the month. The FanDuel-branded retail sportsbook at the venue accounted for $2.4 million of the hold while the licensee’s online sportsbook partners generated $27.6 million. The three mobile sportsbooks tethered to the facility are FanDuel, Superbook NJ, and PointsBet.

The licensee with the second-highest revenue numbers was Resorts Digital. The operator posted $12.4 million in sports betting hold for the month of December, down from $15.4 million in December 2020. Resorts Digital has three online sportsbook brands operating under its license: DraftKings, Resortscasino.com, and BetStars NJ.

The consortium of Borgata Casino and its online partners, Borgatasports and BetMGM came in third with $6.9 million in revenue. $385,507 of the hold came from retail betting while online betting generated $6.5 million in wins for the operator.

Freehold Raceway posted $3.4 million in sports betting win for the month to rank fourth, with Tropicana coming in fifth with $2.9 million.

Freehold Raceway sports betting partners are Barstool and PlayUp USA, and Tropicana partners with Caesars for its sportsbook operations.

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