The New Jersey Division of Gaming Enforcement has released its latest monthly revenue report showing that the state’s licensed sportsbooks accepted over $1.35 billion in wagers during the month of January setting yet another all-time record.
January marks the fifth month in a row that sportsbooks in New Jersey reported accepting over $1 billion in wagers despite concerns that the launch of mobile sports betting in New York would affect local revenues.
New Jersey was the first state to top $1 billion in bets in a single month back in September of 2021 and has continued to break that threshold each and every month since. October saw the state set its previous monthly record of $1.3 billion in sports betting handle, a figure that was comfortably beaten in January.
Sportsbooks generated $60.2 million in gross revenue for the month up 2% from the $59 million reported in December. However, despite setting an all-time record, revenue for January dropped by 27% when compared to the same period in 2021. It’s also a significant drop on November’s revenue figure of $114.8 million.
Mobile sportsbooks accepted $1.2 billion in wagers accounting for almost 90% of all betting activity. Meanwhile, retail sportsbook took in $139.2 million during the month.
Although the Super Bowl was just around the corner, New Jersey gamblers wagered more on the NBA than the NFL. NBA betting for the month came to $553.7 million while betting on the NFL amounted to $340 million.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.