The February handle places New Jersey 2nd among the 37 US states with legalized sports betting.
Running Top 10 February #SportsBetting handles by state:
1 New York $1.47B
2 NEW JERSEY $847.4M <-NEW
3 Indiana $356.2M
4 Maryland $339.4M
5 Tennessee $327.3M
6 Kansas $194M
7 Iowa $193.9M
8 CONNECTICUT $136.5M <-NEW
9 Oregon $48.4M
10 West Virginia $39.8M#GamblingTwitter— Chris Altruda (@AlTruda73) March 16, 2023
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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