NJ Sportsbooks Stay Hot, Take $540 Million In Bets In January

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NJ sports betting January 2020

New Jersey sports betting stayed hot in January with $540 million in wagers, down only 3.2% from December but up 40% from last January. It marks the third straight month in which the state has generated more than half a billion in handle.

Of note: Nevada has never surpassed $500 million in wagers in January. That likely means NJ is starting 2020 as the state with the biggest sports betting handle.

Mobile remained a crucial piece of the sports betting experience as online accounted for 87% of all handle. That’s down slightly from 88% in December.

Sports betting revenue also grew significantly over last year, up 185% to $53.6 million, according to the state report.

The month starts New Jersey out on a strong foot to beat last year’s record handle of nearly $4.6 billion.

Same New Jersey sports betting leaders as usual

Not much changed when it came to which sportsbooks led the way in terms of revenue last month.

Meadowlands, which offers sports betting through FanDuel Sportsbook and PointsBet, led the state with $26.5 million.

Resorts Digital, which includes DraftKings Sportsbook and Fox Bet, came second with $15.9 million.

Only three other licensees topped the $1 million mark for revenue in January:

Basketball outshines football, so far

Basketball is the top sport in New Jersey in terms of handle to start 2020.

Completed event handle was $178 million for basketball compared to $129 million for football.

Football, of course, didn’t just include the NFL playoffs in January. There were a handful of college bowl games, including the National Championship between Clemson and LSU.

There was also nearly $100 million bet on parlays, which had a win percentage of 19% for the month.

Sports betting helping online gambling, too

It looks like there’s still a fairly strong correlation between online sports betting and online casino gambling.

Online casino revenue grew 64% to $55.1 million compared to last January.

That’s a new record with January, marking the first time online casino revenue ever broke the $50 million mark.