The New Jersey Division of Gaming Enforcement (NJDGE) reported that handles hit its lowest level since August 2020, despite year-on-year growth
New Jersey sports betting has taken a minor hit after the New Jersey Division of Gaming Enforcement reported a new low since August 2020. However, sports betting and online casinos still managed a year-on-year growth.
The total recorded revenue for the month was $288.3m which was slightly higher than the same month last year as revenue amounted to $287.3m. However, the total gambling revenue is down from $346.4m in January 2021.
Sports betting figures
Revenue amounted to $46.2m, an increase of 171.8% from $17m last year but a huge slump when compared to January 2021 ($82.6m).
New Jersey also saw the month of February register the lowest betting handle since August 2020, with the total handle amounting to $743m even with the world famous Super Bowl taking place the same month.
From the $743m - An estimated $689.2m was placed online and $53.7m at retail sports books.
New Jersey's top performers
- 1. Golden Nugget - $27.9m
- 2. The Borgata - $25.7m
- 3. Resorts Digital - $19.7m
However, land-based casinos continued to suffer as revenue is down 32.1% to $148.2m when compared to last year for the same month. The market will continue to suffer as state lawmakers continue to push new restrictions and enforce limited capacity due to the pandemic.
New Jersey ranked as the number one state in the whole of the US for sports betting handle in 2020, pipping Nevada for top spot. However, if these slumps continue for New Jersey, we might see a newly crowned sports betting market for 2021.
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