The Garden State kicked off a new year with record-setting numbers.
The New Jersey Division of Gaming Enforcement announced a January handle of $1.7 billion and revenue of $170.8 million, both all-time highs.
New York is the only other U.S. state to reach that handle mark in a single month. The Garden State surpassed its previous high of $1.6 billion in wagers set in November, and its January haul was up 30.7% from December and 57.4% year-over-year.
Revenue jumped 136.1% from January 2023 and 57% from December, thanks to Garden State’s online and retail sportsbooks generating a 9.9% hold.
The Garden State operators paid out $22.2 million in taxes for January.
Football struggles
New Jersey bettors beat the sportsbooks up during the NFL’s regular-season end and playoffs. Football produced a win rate of just 0.3% on a handle of over $282 million.
More than $115 million of New Jersey’s January revenue came from parlays and the 16% win rate while basketball helped the sportsbooks earn $23.3 million on a 5.2% hold.
Other sports combined to produce $33.9 million of revenue on $283 million wagered.
The Meadowlands partners rack up
Online sports betting made up 98% of all January wagers placed in New Jersey.
It was also a great month for The Meadowlands’ partners FanDuel, SuperBook, and Fanatics Sportsbook. The trio generated $109.1 million in revenue, its highest mark ever.
The Meadowlands’ brick-and-mortar revenue of $3.7 million accounted for all but $200,000 of retail sportsbooks in New Jersey.
DraftKings helped partner Resorts Digital bring in $40.3 million in online revenue.
