Sports betting revenue declined 26.9% year-on-year to $60.2m. This was despite the state’s handle reaching an all-time, monthly high, with the $1.35bn bet by players comfortably surpassing the previous record of $114.8m set in November last year.
Some $1.21bn was wagered online during the month, while the remaining $139.2m was spent at retail sportsbooks.
FanDuel and PointsBet, both partnered with Meadowlands, remained the runaway leaders in New Jersey, posting $38.4m in sports betting revenue for the month. Resorts Digital and DraftKings followed with $10.2m, then BetMGM partner the Borgata on $4.8m.
Looking at igaming and revenue for this segment reached $137.8m, a new monthly record for the state and an increase of 32.8% on last year.
Online casino accounted for $135.3m of total igaming revenue for January, while the other $2.6m came from peer-to-peer poker games.
Borgata claimed top spot in the igaming market with $39.1m in revenue, ahead of Golden Nugget Online Gaming with $36.5m, then Resorts Digital on $33.0m.
In terms of land-based casinos, revenue here increased 14.8% year-on-year to $183.6m, with $129.1m coming from slot machines and $54.6m table games.
Record monthly figures in New Jersey come despite the competition from the rollout of legal online sports betting in neighbouring New York in early January.
New York’s market launched on 8 January and, in the 30 days since opening, players bet a total of $1.98bn on sports – far eclipsing the total amount spent in New Jersey in January. Revenue for the same period was also far higher at $138.5m.