NJ Sports Betting Revenue Hit Record $10.9 Billion Handle in 2021

New Jersey online casinos broke revenue records six times in 2021, with December setting a new record of $130.9 million.
Photo of rowboat on beach, boat has "ATLANTIC CITY" written on the side, in reference to the gambling capital of New Jersey, where most of the state's retail gambling revenue comes from.
By
January 27, 2022

New Jersey sports bettors set a record $10.9 billion handle in 2021, beating its previous record of $6 billion, set one year earlier.

Data from the New Jersey Division of Gaming Enforcement (NJDGE) also show that revenue from sports betting was down month-over-month and year-over-year, as the second year affected by the pandemic drew to a close.

The record $10.9 billion handle for 2021 included $9.9 billion in online sports betting handle and $987k in retail. By comparison, the $6 billion handle from 2020 included $5.5 billion from online sports wagering and $487k from retail.

Revenue from online and mobile sports betting totaled $55.2 million in December 2021 — the vertical plunged 48% month-over-month ($106.9 million) but was only down 6% year-to-year ($58.7 million).

Meadowlands Racing & Entertainment — which has FanDuel, PointsBet, and SuperBook as sportsbook partners — led the vertical with $27.6 million in revenue, down 53% month-over-month ($59 million) and down 5% year-over-year ($29 million). The racetrack’s market share slipped to 50% in December, but that was comparable to where it was a year ago.

Second place in terms of revenue was Resorts — which has its own sportsbook but also partners with DraftKings Sports and FOX Bet NJ. Resorts had $12.4 million in revenue, down 45% from November ($22.4 million) and off about 57.5% from 2020 ($15.4 million). Resorts held 22.4% of the vertical in December, up from 21% the month before.

In third place, Borgata — which also has its own sportsbook but also partners with BetMGM Sports NJ — had $6.5 million in revenue in December 2021, down 22.5% month-over-month ($8.4 million) and down 48% from one year ago ($6.3 million).

Penn National’s Barstool Sportsbook was within striking distance of Borgata in October and November, but let their rival put some room between them in December. Barstool — on the Freehold Raceway license — grossed $3.2 million in December, down 57.5% from November ($7.6 million). The brand launched in NJ in mid-August 2021.

Online Casino Gross Record $130.9 Million

Online casino operators ended 2021 on a high note — literally.

Revenue from the vertical hit a record $130.9 million in December, up 13% month-over-month ($115.8 million) and nearly 36% year-to-year ($96.4 million). December was also the sixth month of 2021 with record revenue — a feat also replicated in January, March, July, September, and October. The vertical has been above the $100 million mark every month since March.

The online operators on the Borgata casino license — BetMGM Casino NJ, Borgata Casino, Pala, and partycasino NJ — had $36.2 million in revenue in December, up 9.8% from November ($33 million) and 39% from one year earlier ($26.1 million).

In second place for revenue, Golden Nugget — whose partners include FanDuel Casino, PlaySugarHouse, and others — grossed $36 million in December, up 13.4% month-over-month ($31.8 million) and 22.3% year-over-year ($29.4 million).

Casinos on the Resorts license — PokerStars NJ, DraftKings Casino, and Barstool, among others — reported $32.2 million in revenue, an 18.4% increase from November ($27.2 million) and 59.3% above December 2020 revenue ($20.2 million).

Golden Nugget, which last led the vertical in terms of revenue in April 2021, was less than $243k from taking first place back from Borgata again in December.

But December 2021 was also an unusual month in that, for the first time ever, Borgata, Golden Nugget, and Resorts had very similarly-sized shares of the vertical — 27.7%, 27.5%, and 24.6%, respectively. By comparison, Borgata held 28.5% of the market in November, Golden Nugget was at 27.4%, and Resorts was at 23.5%.

NJDGE data show operators on the five smaller casino licenses — Bally’s, Caesars, Hard Rock, Ocean Casino, and Tropicana — combined for $26.4 million in revenue and 20.2% of the market in December 2021. Revenue from the group was up 11% from November ($23.8 million) and 27.7% year-over-year ($20.7 million). Their market share was 20.6% one month earlier and 21.4% one year earlier.

Poker Up Compared to Pre-Pandemic

New Jersey’s online poker operators saw $2.3 million in revenue in December, a 6.4% increase from November ($2.2 million). The vertical was down 22.6% from December 2020 ($3 million) but compared to December 2019 — before the COVID-19 pandemic — revenue was up 34.8% ($1.7 million).

WSOP NJ, on the Caesars license, was the top revenue earner in December, but just barely. WSOP grossed $849k in December, down less than one tick from November ($854k).

Meanwhile, the trio of poker operators on the Borgata license — BetMGM Poker NJ, Borgata Poker NJ, and partypoker NJ — was in second in terms of revenue with $803k, up 10% from the month prior ($735k). Borgata led WSOP in revenue in September and October 2021 but could fell short for a second straight month in December.

PokerStars NJ, on the Resorts license, was third with nearly $686k in revenue, up 12.9% month-to-month ($607k).

All three poker networks were off significantly from the revenue they saw one year earlier, during the pandemic. WSOP was down 27.8% year-to-year ($1.2 million), while Borgata was down 25% ($1.1 million) and PokerStars was off by 11.4% ($774k). WSOP led in market share one year ago with a nearly 39% stake, followed by Borgata (35.5%), and Resorts (25.6%).

If you or someone you know has a gambling problem and wants help, call the Virginia Council on Problem Gambling (VACPG) helpline at 1-888-532-3500

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