The Super Bowl may be the favorite American pastime, but it took a toll on New Jersey Sports Betting in February. The figures are in. They tell the tale of $320 million in sports betting revenues that falls short of January, Super Bowl month that raked in $385 million.
As is commonly known, up to 80% of wagers are placed online or via mobile devices. Operators in the Garden State have posted considerable losses in the area of $4.5 million on the Super Bowl alone. Nevertheless, FanDuel Sportsbook came out ahead of the pack with $6.6 million in digital revenue for the month, a bit below January’s $7 million. This is 90-95% of Meadowlands Racetrack’s profits. The picture is less than rosy given that FanDuel lost big on the Superbowl (around $1 million).
FanDuel’s main competitor is DraftKings Sports book that pulled in $3.7 million in February. A drop in sports betting revenues is apparent since January boasted $6.9 million. The Boston-based gambling company lost upwards of $1 million having paid out a whopping $11 million for the Super Bowl, the major betting event of the year.
NJ sports betting February revenue breakdown (from the NJ Division of Gaming Enforcement)
A version of this article first appeared at legalsportsreport.com