The online gambling market of New Jersey is posting its first-ever monthly revenue, which is a total of more than $100m in January. The basketball and NFL playoffs are pushing for sports betting revenue for another record.
The figures that got revealed on Wednesday by the New Jersey Division of Gaming Enforcement portray that the licensed online casino and poker operators of the state are generating a combined revenue of only under $103.4 in January. It is about an 88.4% hike from the same month of last year, near $4 million, which is way much better than the previous iGaming records set in December 2020.
The records of January were due to the online casino vertical way, which got shot up from 89.7% year-on-year to $101m. Online poker has contributed $2.75m, which is nearly one-half from that of January of 2020. Both the verticals are getting benefited from the cross-selling to sports bettors, who are enjoying full state of marquee matchups in the last month.
The Golden Nugget Online gaming is leading to the iGaming revenue pack with $31.2m but from the family site of Borgata casino. It included the BetMGM brand. The revenue was not far enough from $28.7 million. It was representing a steller 176.8% with year-on-year improvement. It was around $926k from Borg’s January total that came via poker.
The Resort’s Digital Gaming is performing under such banners that one can find for DraftKings and Flutter Ent’s FoxBet/PokerStars brands. It is ranking third with a revenue of $22.8m, of which $843k came from poker. Caesars Interactive Entertainment was in the distant fourth with $7.4m. However, it has won the poker month with $ 975k.
The online casino of Tropicana was placed at the fifth position with over $7m. The Hard Rock Atlantic city posted about the second-biggest percentage gain of the month. It was rising above $5.6m.
The sports betting revenue of January is shooting up to 54.3% to a record of $82.6 m. However, the total handle is representing a slight decline from the record of December. So, the record surge means that the bettor’s bet was bad in the last month.
The Parlay wagers are accounted for more than half of the 19.8% revenue of January. Basketball is claiming for the handle crown with $320.3m, whereas the roundball revenue is ranking second with $15.35m. Football has generated handles of about $201.8m, and the revenue is under $12.6m.
The FanDuel/Meadowlands racetrack tandem in January has topped in the betting revenue chart with an impressive $46.8. It is more than $20m, which is better than the same from the last month with a significant rise of about $33.2m.
There is a more distant third-place, which has gone to Borgata/BetMGM with less than $8.5m. Though it was more than double in January of 2020. The Ocean Casino Resort had doubled up to $4.5m when the previously reliable William Hill/Monmouth Park track tandem came up with a report with an effective flat revenue of about $3.7m.