ATLANTIC CITY, N.J.,
Jan. 14, 2022 /PRNewswire/
-- New Jersey's online and retail sportsbooks attracted more
than $1 billion in wagers for the
fourth consecutive month and online casinos shattered their revenue
record with $133 million in December,
capping a remarkable year for both sportsbooks and online casinos.
But New Jersey's status as the
largest online sports betting market in the U.S. may be in jeopardy
with the launch of mobile sports betting in New York in January, according to PlayNJ,
which tracks gaming developments in the state.
"It's fitting that New Jersey's
sportsbooks ended the year on a near-record pace, but December
could mark the last billion-dollar month in New Jersey for the foreseeable future," said
David Danzis, an analyst for
PlayNJ.com. "The state's sportsbooks have bucked expectations
before, and the operators will make adjustments to ensure that
New Jersey remains among the top
markets in the U.S."
New Jersey's online and retail
sportsbooks handled $1.23 billion in
wagers in December, falling just short of the record $1.30 billion in betting reached in October,
according to official reporting released Friday. Betting volume
rose 23.4% from the $996.3 million
generated in December 2020.
Bettors fared far better than in November, too, when sportsbooks
set a U.S. record by winning $114.8
million. Instead, sportsbooks won $59.0 million in gross revenue, which was down
11.1% from $66.4 million in
December 2020. That revenue generated
$8.9 million in state and local
Football drew $398.8 million in
wagers, the largest share of any sport in December. Basketball
drove $384.4 million in wagers.
"A 17th game added to the NFL schedule and basketball's
continuing popularity helped keep action brisk throughout the
month," Danzis said. "With nearly $4
billion in wagers made, the last four months have been a
fantastic finish to 2021."
For the year, New Jersey's
retail and online sportsbooks produced:
- $10.9 billion in online and
retail wagers, the most of any U.S. state in 2021. Volume was up
81.8% from 2020.
- $815.8 million in gross revenue,
up 104.7% from 2020.
- $122.0 million in state and local
taxes, up 104.7% from 2020.
"2021 will be remembered as the year that New Jersey was the unrivaled leader of the
U.S. market, even if that status proves to be short-lived," said
Eric Ramsey, an analyst for the
PlayUSA.com Network, which includes PlayNJ.com. "New York will almost certainly assume the
crown soon, while New Jersey will
potentially slip behind Nevada and
others in the coming year. Still, sports betting will remain a
powerful revenue generator for the state."
Online sportsbooks accounted for $1.1
billion in wagers, or 90.3% of the state's handle in
December. FanDuel/PointsBet/SuperBook topped the online market
again with $27.6 million in gross
revenue, down from $59.0 million in
Retail sportsbooks attracted $119.3
million in wagers, up from $114.0
million in November. Meadowlands/FanDuel topped the retail
market with $2.4 million in
Online casinos and poker set fresh record
New Jersey's online casinos and
poker rooms closed 2021 with a record $133.2
million in revenue, topping the record $127.0 million generated in October. Revenue was
up 25.3% from $99.5 million in
For the year, New Jersey's
online casinos generated:
- $1.4 billion in gross revenue
from online casino games and poker rooms, up 40.9% from 2020.
- $1.3 billion in revenue from
online casino games alone, up 43.5% from 2020.
- $239.2 million in state and local
taxes, up 40.9% from 2020.
"The expansion of online casino revenue was perhaps the best
surprise of 2021," Ramsey said. "Not only did operators hold onto
the gains made in 2020, they managed to build on them. The market
may be nearing its ceiling. But online casinos shouldn't be
impacted much by New York's online
sports betting product, which will only add to their importance for
the state's gaming industry in 2022."
For more: PlayNJ.com/news.
About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches is a
leading source for news, analysis, and research related to the
market for regulated online gaming in the U.S.
Zack Hall, Catena Media,
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