NJ Sees Drop in February Sports Betting Handle to $743M

NJ Sees Drop in February Sports Betting Handle to $743M
© PA

The $1 billion mark in New Jersey sports betting handle will have to wait. Maybe the state can reach the milestone in the March report.

As expected, New Jersey’s February sports betting handle, with fewer days and one less weekend to wager, was $743 million. That broke a string of three straight months with more than $900 million in sports handle. according to February numbers released Tuesday by the state Division of Gaming.

The February handle was down 22.5% from January’s $958.7 million, but up 50.1% from February 2020’s $494.8 million.

The January handle for New Jersey sportsbooks was the second-best month ever and the sports betting revenue of $82.6 million broke the state and national record by more than $15 million. January was the third straight month with more than $900 million in handle in New Jersey. December’s $996.3 million set the state and national record for a month.

New Jersey Sports Betting, February vs January

Total handle Mobile handleRevenue
February $742.953M $689.249M $46.214M
January $958.718M $886.656M $82.641M
Change Down 22.5% Down 22.3% Down 44.1%

Other Key Numbers in New Jersey

The February report from the Division of Gaming report also showed:

February online/mobile sports betting handle was $689.2 million, down 22.3% from January ($886.7 million) and up 57.9% from February 2020 ($436.5 million). Mobile represented 92.8% share of the sports betting market in February, a modest increase of 0.3%.

Sports betting revenue dropped to $46.2 million, down 44.1% from January ($82.6 million) and up 171.8% from February 2020 ($17 million).

Total gaming revenue was $288.3 million, down 16.8% from January ($346.4 million) and up 0.3% from February 2020 ($287.3 million).

The New Jersey iGaming win for the month was $93.8 million, down 9.6% from January ($103.8 million) and up 80.4% from February 2020 ($52 million).

New Jersey Sports Betting, February 2021 vs February 2020

Total handle Mobile handleRevenue
February 2021 $742.953M $689.249M $46.214M
February 2020 $494.814M $436.492M $17.001M
Change Up 50.1% Up 57.9% Up 171.8%

Other Key Takeaways

New Jersey reported a handle of $117.4 million on the Super Bowl. New Jersey sportsbooks won a net $11.3 million (about 9.6% hold), according to the Division of Gaming Enforcement. The handle was second to Nevada’s $136.1 million bet on the Super Bowl.

March Madness could help New Jersey top the $1 billion mark in total sports handle for the month. But you’re not allowed to bet on Rutgers in the NCAA Tournament in New Jersey.

Legislation has been introduced in New Jersey to change the law about betting on college sports involving New Jersey teams and tournament games played in the state.

Betting News Articles

×