HomeNJ Sports Betting NewsNew Jersey February 2023 Sports Betting Sees Rise in Revenue

New Jersey February 2023 Sports Betting Sees Rise in Revenue

New Jersey sports betting operators took in $847.4 million worth of wagers during February and netted $54.7 million in revenue, a 78% rise from one year ago, according to a Thursday New Jersey Division of Gaming report.

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The February handle places New Jersey 2nd among the 37 US states with legalized sports betting.

February Sportsbook Operators Revenue

Six of the 11 sportsbook operators and three licensees saw their profits rise from one year ago; Meadowlands Racetrack (Fanduel, PointsBet, SuperBook), Resorts Digital, Borgata (MGM), Tropicana (William Hill), Freehold Raceway (betPARX), Harrahs ( and Ocean Casino.

Operator

February 2023

February 2022

% Change

Meadowlands Racetrack

$32,084,151

$13,889,465

131%

Resorts Digital

$12,296,613

$8,622,138

42.6%

Borgata

$4,052,407

$3,644,132

11.2%

Tropicana

$2,344,689

$-329,788

811%

Hard Rock

$1,274,397

$1,322,676

-3.7%

Parlays Top New Jersey Sportsbooks Winning Percentage

New Jersey sportsbook operators clean up on parlays. The longshot wagers generated a whopping 17.9% win rate in 2023.

Category

YTD Win

YTD Handle

Win %

Parlay

$84,159,252

$470,554,713

17.9%

Football

$22,738,550

$353,256,981

6.4%

Basketball

$22,199,613

$773,387,968

2.9%

Baseball

-$24,049

$801,584

-3.0%

Other

$19,677,720

$356,089,258

5.5%

Reasons for Continued Revenue Growth

The New Jersey betting revenue continues to see growth and the following sporting events could see an even more remarkable rise over the next few months.

 

  • NCAA Basketball March Madness (March 14-April 3)
  • Grapefruit League Baseball (February 25-March 29)
  • MLB Opening Day and 2023 Season (March 30-Oct 4)
  • NBA Playoffs (April 11-June 18)
  • NFL Draft (April 27-29)
  • NHL Playoffs (April 15-June 10)

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