ATLANTIC CITY, N.J., Jan. 13, 2021 /PRNewswire/ — New Jersey fell simply quick in December of changing into the primary state to just accept $1 billion in sports activities bets in a single month, however nonetheless prolonged a streak of record-setting months whereas reaching a document $6 billion in wagers for the yr. This whereas on-line casinos and poker continued to stem the hundreds of thousands in revenues losses by retail casinos, in response to PlayNJ.
“A novel set of circumstances, most notably a once-a-century pandemic, despatched on-line sports activities betting to those beforehand unfathomable highs,” stated Dustin Gouker, lead analyst for PlayNJ.com. “The pandemic has had a diametrically reverse impact on New Jersey’s on-line and retail markets for each sports activities betting and on line casino video games. However the development of on-line betting was essential in making up for at the least a few of the losses in income at Atlantic Metropolis casinos and positively proceed to regular all the gaming trade.”
New Jersey’s sportsbooks collected a document $996.3 million in December wagers, in response to official knowledge launched Wednesday. That surpassed the document $931 million guess in November, and marked the fifth straight month the state has set an all-jurisdiction document.
December’s bets generated a document $66.4 million in income. 12 months-over-year, deal with was up 78.6% from the $557.8 million guess in December 2019 and income was up 125.6% from $29.4 million in December 2019. December’s bets produced $8.3 million in state taxes.
For all of 2020, New Jersey’s retail and on-line sportsbooks produced:
- $6.02 billion in bets.
- $5.5 billion in on-line wagering.
- $398.5 million in operator income.
- $65.1 million in state and native taxes.
“Even when post-pandemic life returns to regular, on-line sports activities betting will not probably hand over its positive aspects from this yr,” stated Eric Ramsey, analyst for PlayNJ.com. “The silver lining for the trade was that this yr was a possibility for on-line operators to focus closely on their merchandise and construct their buyer base, utilizing a mixture of know-how enhancements and aggressive promotions. That has matured the market way more shortly than was projected.”
On-line betting generated 93.3%, or $929.3 million, of the state’s complete deal with in December. FanDuel Sportsbook/PointsBet topped on-line operators with $29 million in gross income.
Retail sportsbooks generated $67 million in bets, down from $75.9 million in December 2019. For the yr, retail books generated $38.6 million in income, down from $54.9 million in 2019.
“The race for market share appears to be frozen in place,” Gouker stated. “An anticipated launch of Penn Nationwide’s Barstool-branded sportsbook in 2021 might shake issues up, however as of but no operator has actually eaten into the market share of FanDuel or DraftKings.”
On-line on line casino and poker
New Jersey’s on-line casinos and poker rooms generated a document $99.5 million in income in December, up 101.6% from $49.3 million in December 2019. The month produced $14.9 million in state taxes.
On-line casinos tallied $970.3 million in income in 2020 — a 101% achieve from $482.7 million in 2019 — and produced $145.7 million in state taxes. With income at retail casinos down $1.2 billion yr over yr, the rise in on-line gaming income was important.
“It is scary to think about the place New Jersey’s gaming trade could be with out on-line on line casino gaming,” Ramsey stated. “Each greenback of income gained and tax greenback generated from on-line gaming proved desperately wanted.”
For extra, go to PlayNJ.com/news.
Concerning the PlayUSA.com Community:
The PlayUSA.com Community and its state-focused branches is a number one supply for information, evaluation, and analysis associated to the marketplace for regulated on-line gaming within the U.S.
Zack Corridor, DVA Promoting & PR, 541-389-2411, [email protected]