Finance

NJ sports betting market slows in February despite YoY growth

| By Robert Fletcher
The New Jersey Division of Gaming Enforcement (NJDGE) has reported year-on-year growth across the US state’s sports betting and online casino markets for February, but sports wagering handle fell to its lowest level since August 2020.

Total gambling revenue for the month was $288.3m (£207.3m/€242.3m), which was only marginally higher than the $287.3m posted in the same month last year, but down from $346.4m in January 2021.

Sports betting revenue came in at $46.2m, an increase of 171.8% from $17.0m last year, but some way short of the record $82.6m recorded in January of this year.

Players spending on sports betting jumped 50.2% year-on-year to $743.0m, but this was the lowest monthly handle since August 2020, even after taking into account betting on the National Football League’s Super Bowl showpiece. Some $689.2m was wagered online and $53.7m at retail sportsbooks.

FanDuel and PointsBet at Meadowlands remained by far the market leaders in February, posting $27.2m in revenue, up 147.3% on last year. Resorts Digital and DraftKings followed with $7.7m, then the Borgata on $5.0m.

Looking at online casino and revenue here reached $93.8m, which was up 80.4% from $52.0m last year, but down 9.6% from January’s record of $103.8m.

Read the full story on iGB North America.

Subscribe to the iGaming newsletter

WildFlower