Race Between FanDuel, DraftKings Heats Up As NJ Sports Betting Handle Passes $1 Billion

FanDuel Sportsbook and Meadowlands Racetrack posted a strong December as NJ sports betting revenue held steady from November.

NJ sports betting handle again surpassed the $300 million mark last month, checking in at $319 million. That handle led to $20.8 million in revenue for operators, which equates to a 6.5 percent win.

In November, New Jersey sports betting totaled $21.2 million in revenue on $330 million in handle. December featured five NFL Sundays compared to four in November, but also a reduced slate of college football as its regular season concluded.

December revenue in NJ sports betting

Here's how the overall revenue picture for NJ sports betting shapes up for the past month of wagering:

Property (Online)	Digital	Retail	December Total	November Total
Totals:	$14,650,636	$6,163,586	$20,814,222	$21,243,865
Bally's Wild Wild West (Caesars, 888)	$108,892	$19,862	$128,754	$178,489
Borgata (playMGM)	($22,436)	$189,677	$167,241	$1,072,047
Golden Nugget	N/A	$82,532	$82,532	$130,874
Harrah's	N/A	$215,971	$215,971	($124,260)
Meadowlands (FanDuel)	$5,532,837	$3,577,177	$9,110,014	$7,043,394
Monmouth Park (William Hill, SugarHouse)	$1,296,348	$1,031,336	$2,327,684	$2,679,395
Ocean Resort (William Hill)	$1,044,026	$633,857	$1,677,883	$2,824,762
Resorts (DraftKings, BetStars)	$6,690,969	$195,766	$6,886,735	$7,330,503
Tropicana	N/A	$217,408	$217,408	$108,751

Placed into the year-to-date revenue sheet, December pushes New Jersey past $1.2 billion in handle. Sports wagering generated more than $94 million in revenue for operators and more than $10.4 million in tax revenue for New Jersey.

FanDuel Sportsbook enjoys a December to remember

Revenue at Meadowlands Racetrack bumped up by $2 million from November to December. That jump from more than $7 million to better than $9 million paced the NJ sports betting market.

It also pushed FanDuel Sportsbook into the space of market leader DraftKings Sportsbook for the month. While DraftKings Sportsbook outpaced FanDuel Sportsbook in online revenue by more than $1 million, FanDuel's retail presence at Meadowlands pushed the company in front overall in December.

FanDuel Sportsbook operates the retail shop at Meadowlands Racetrack, and also runs its mobile app through the track's license. That combination of retail presence and mobile reach proved strong in December.

FanDuel spokesman Kevin Hennessy provided a statement on the December report:

“December was another great month for the FanDuel Sportsbook, New Jersey’s top sportsbook by handle and revenue.  We saw significant increases in revenue for our retail and online sportsbooks and delivered holiday cheer to our customers with more than half of our online sportsbook patrons benefiting from a promotional bonus in December.”

While upstart Australian mobile entry PointsBet also runs through the Meadowlands license, FanDuel Sportsbook overwhelmingly drives that online revenue.

DraftKings Sportsbook focuses on the long game

The first app into the NJ sports betting market, DraftKings Sportsbook drove the first partial year of legal online sports betting. The one-time DFS giant generated more than $30 million in online sports betting revenue through licensor Resorts AC. BetStars also accounts for a fraction of that total.

Jamie Shea, Senior Director of Digital Sportsbook for DraftKings Sportsbook:

“DraftKings wrapped up 2018 as the clear leader in mobile sports betting. Always looking to deliver more for our customers, we also added casino-style games to our Sportsbook app and will continue to build out a true one-stop destination for sports fans in New Jersey and future states.”

DraftKings does have potential issues on the horizon in New Jersey after Sunday's controversy regarding its Sports Betting National Championship.

The post Race Between FanDuel, DraftKings Heats Up As NJ Sports Betting Handle Passes $1 Billion appeared first on Legal Sports Report.

Original source: https://www.legalsportsreport.com/27608/nj-sports-betting-revenue-december-2018/

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