For fifth month running, New Jersey shatters all-time record for sports betting gross

NJ betting revenues

It is becoming old habit in New Jersey.

But no one will be complaining in the government, with the amount of money flowing into the Garden State’s coffers. 

New Jersey posted its sports betting and casino numbers from December 2020, and it was a new record for the fifth month in a row. But it did fall short of a magical number, so it left something to shoot for in January. 

Online sports betting in New Jersey led the way towards another record, as $996.3 million was bet on sports in December of 2020. More than 93 percent of that number, a staggering $929.3 million, came from online wagering. Those numbers were both all-time records for any state.

New Jersey has brought in more than $6 billion this year in sports bets, which is another record. That is also an astounding number, considering that there was very little to bet on from mid-March until late May, due to the COVID-19 shutdown.

What about NJ casino revenues?

The casinos in New Jersey were also closed for almost three months, and even after they reopened have been running at a fraction of the capacity they were in 2019.

The increase of $1.4 billion from 2019 (almost 25 percent) should continue unabated for at least the first few months of 2021, with the recent NCAA CFB Playoff Championship Game, the NFL playoffs, Super Bowl LV, and March Madness, which was canceled in 2020. Those events alone could see the next three months climbing even higher for the Garden State.

Could we see the first $1 billion month? Maybe $1.5 billion?

The Meadowlands Racetrack was the big winner in December, and for 2020. For both the last month and for the year, the Meadowlands accounted for more revenue than all nine Atlantic City casinos combined. FanDuel was the main reason, but PointsBet is also based at the Meadowlands.

NJ Betting Revenues in 2021: Expected

But can New Jersey keep this momentum going all the way through 2021, especially with New York State set to legalize online sports betting?

While there is really little way to know the official figures, Empire State residents account for some of the action in New Jersey. But if New York does not come online before March Madness, New Jersey could be well on the way to shattering more records for the next three months, and of course for 2021.

Here is TOP 5 most popular in NJ online betting sites:

Illustration: calvinayre.com

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