New Jersey Surpasses $1B in Sports Betting Gross Revenue in 2023
December’s profit of $109.4 million was a 24.8% rise year-over-year and a 14% increase from November.
A strong December pushed the Garden State over $1 billion in sports betting gross revenue for 2023.
The New Jersey Division of Gaming Enforcement announced a 31.9% year-over-year increase from 2022 when casinos, racetracks, and online operator partners hauled in $763 million.
New York and Ohio are the only other two states in the U.S. to reach $1 billion in yearly revenue.
December’s profit of $109.4 million was a 24.8% rise year-over-year and a 14% increase from November.
That came on a December handle of $1.3 billion, down 18.7% from the Garden State’s all-time high of $1.6 billion generated in November.
The December hold of 8.5% was 2.6 points higher than November.
NFL and college football combined to make up 30% of the overall handle and 27% of the gross revenue.
Meadowlands reaches nearly $50 million in revenue
Online sports betting made up 96% of the Garden State’s overall handle while retail sportsbooks generated $50 million in wagers.
The Meadowlands, which fuels mobile sports betting with FanDuel, PointsBet, and SuperBook, led New Jersey in online revenue with $49.3 million in December while profits for the year surpassed $458 million.
Resorts Digital and its partnership with DraftKings produced $34.8 million in revenue in December and $314.4 million in 2023.
Meadowlands Racing led New Jersey’s brick-and-mortar sportsbooks in December with revenue of $1.8 million.
Seven retail sportsbooks in the Garden State reported revenue of at least $1 million for 2023.
Gaming revenue jumps 15%
Total gaming revenue for New Jersey retail and online wagering reached $522.2 million in December, up 14.8% year-over-year.
Year-to-date, total gaming revenue was $5.78 billion, a 10.9% rise from the $5.21 billion profited in 2022.
Casino wins made up $232.4 million of the total revenue for the month while internet gaming was up 19.1% year-to-year to $180.3 million in December and 15.7% year-to-date compared to 2022.
