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. 

Jan 17, 2024 • 20:35 ET • 4 min read
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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. 

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