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The market of sport betting in New Jersey is still strong



The sports betting houses of New Jersey managed in February about $ 320 million in bets, FanDuel dominated the market for one more month. Sports betting in New Jersey had another very good month, according to the financial data for February published by the New Jersey Division of Gaming Enforcement. The state's sports betting facilities received $ 320.4 million in bets last month.

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Although the total amount wagered in February was still a reasonable result, it was a disappointment for many, as it was the month of the Super Bowl. In addition, the total for February represented a decrease of 16.8% with respect to a record of $ 385.3 million posted in January.

The state bookmakers registered some numbers during the Super Bowl somewhat disappointing. During the championship, the amount of $ 35 million was bet, and sports betting operators paid more than $ 39 million. On the other hand, betting activity in other sports, including the NBA and college basketball, added another good month for the state and its sports betting industry.

Digital sports betting was once again the leading betting segment in New Jersey. The state's online sports bet managed last month almost $ 259 million, which represented 80.8% of all bets made in the state territory. This is a strong signal that sport betting marketing continues to florish.

New Jersey sports betting revenue totaled $ 12.7 million in February. While the reported number is a bit disappointing, it should be noted that the state sportsbooks lost around $ 4.5 million during the Super Bowl.

Commenting on the results of February, PlayNJ's leading betting analyst, Dustin Gouker, said that the state's sports betting market is "less driven by important events" and that last month's figures "confirm it". Gouker went on to say that "eventually, the consistency of the New Jersey market will help overcome Nevada as the largest legal sports betting market in the US. UU. "

FanDuel dominates the market
The physical betting house of FanDuel at the Meadowlands Racetrack and its online operations dominated New Jersey's sports betting market in February. The operator's online betting house surpassed that of its biggest local rival DraftKings last month, generating $ 6.6 million in revenue, compared to $ 5.9 million in the previous month. DraftKings Sportsbook suffered a 46% drop in revenue in February with revenues of $ 3.7 million.

As for the FanDuel bookmaker, last month it consolidated its position as the market leader with revenues of $ 1.5 million, compared to the $ 1.2 million reported in January. Resorts Atlantic City followed, which generated revenues of $ 142,846 and Hard Rock Atlantic City $ 103,614.

Total revenue from gambling and bets totaled $ 241.2 million last month, an increase of 25.6% year-on-year. In February, the nine Atlantic City operating casinos recorded a 15.7% increase in revenues to total $ 196.7 million. Online gambling revenue increased 44.4% last month to $ 31.7 million. New Jersey has proven how appropriate regulatory changes can generate investment growth.










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