NJ Sports Betting: $996M Bet in December, $6B in 2020
The New Jersey Division of Gaming Enforcement says just over $6 billion was wagered on sports in the Garden State during the year 2020.
In monthly figures released Wednesday afternoon, the state says $996 million was wagered in December, which is yet another record for the most amount of money bet on sports in a single state in a month.
A further breakdown of the figures show $929 million was bet on-line with the remaining $67 million bet in-person at sports books located at Atlantic City's casinos and at race tracks in New Jersey. For the year, $5.5 billion was bet online with $487 million wagered in-person.
The $996 million that was wagered last month turned into $66.4 million in revenue for sportsbooks.
Dustin Gouker, lead analyst for PlayNJ.com, said in a press release, "A unique set of circumstances, most notably a once-a-century pandemic, sent online sports betting to these previously unfathomable highs. The pandemic has had a diametrically opposite effect on New Jersey’s online and retail markets for both sports betting and casino games. But the growth of online betting was crucial in making up for at least some of the losses in revenue at Atlantic City casinos and certainly continue to steady the entire gaming industry."
Other monthly figures released in today's report from the NJDGE:
- Total Gaming Revenue for December was $312.9 million compared to $287.3 million last December, reflecting an 8.9% increase.
- Internet Gaming Win was $99.5 million in December compared to $49.3 million in the prior period, reflecting an increase of 101.6%.
- Casino Win for December was $147.1 million, decreasing 29.5% from the same month last year.
For the year 2020:
- The Industry’s Total Gaming Revenue was $2.881 billion, compared to $3.469 billion, reflecting a decrease of 16.9%.
- Internet Gaming Win increased 101.0% to $970.3 million when compared to the prior period.
- Sports Wagering Gross Revenue was $398.5 million.