New Jersey’s Sports Betting Market Continues to Flourish
As the Garden States booming sports betting market takes off to the stars, so do the overall figures. Indeed, sportsbooks in New Jersey handled nearly $2 Billion since launching nine months ago. And during the 28 days of February, players laid out over $320 Million on sporting events throughout the month. So in terms of continuous growth, sports betting in NJ is by far a sensation, and it’s showing no signs of slowing down.
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Show of Force
When it comes to East Coast sports betting, NJ leads the way. Even as other states get involved, such as Pennsylvania, and likely New York, the Garden State is well seasoned and prepared to stay on top. In fact, Atlantic City is the Mecca for this industry on the east coast. Not to mention, AC was the first city outside of Nevada to open a casino in the United States. So in terms of experience, no other city within 2,500 miles of America’s Favorite Playground can ever have more. Back to NJ, now that March Madness is in full swing, it’s most likely that this month is going to be another record-setter. If not, then at least we’ll see how it comes to February’s Super Bowl. Which, saw an impressive handle of $34.9 Million on one single game alone.
Moving Forward with the Numbers
Overall, the Golden Nugget in AC, in partnership with PlaySugarHouse, saw a 5.8% increase to $26.5 Million in revenue during February. However, it was Betfair’s FanDuel that dominated last month’s figures. In other words, the company outshined DraftKings by nearly $2 Million. So at this point, it might be safe to say that Betfair FanDuel is the new sheriff in town.
Regarding AC’s nine brick-and-mortar casinos, they won an impressive $241 Million in February alone. Compared to a year ago, Resorts saw the most significant gains YOY up 24.5% to $14.8 Million. Also, Caesars was up 10.7% to $19.4 Million. So without a doubt, NJ sports betting is on the rise and becoming more popular by the month.