Once again, New Jersey proved that mobile sports betting rules. December figures released Tuesday showed that mobile wagers accounted for 88 percent of bets placed in the state. Bettors wagered $557 million with revenue of $29.2 million, for a hold percentage of 5.3 percent, comparable to Nevada, according to LegalSportsReport.com.
For the year, sports betting in New Jersey generated more than $4.58 billion. Revenue of almost $300 million resulted in $36 million in state taxes.
FanDuel Sportsbook finished the year as the early market leader in New Jersey, posting more than $14 million in December revenue. DraftKings produced over $9 million for the final month of the year.
For 2019, FanDuel accounted for nearly half of sports betting revenue with better than $149 million through its Meadowlands Racetrack license. DraftKings posted $79 million via its Resorts Digital license.
DraftKings ruled 2018 in part because it was first out of the gate, but FanDuel eroded the edge coming into 2019.
Meanwhile, out west, Nevada enjoyed its strongest month on record in November with $614 million taken in without any major events in Las Vegas.
New Jersey also weathered the competition from Pennsylvania sports betting went mobile last year. As long as New York sputters on mobile wagering, New Jersey sports betting will reap the benefits of its neighbor’s failure.
