By statesidebets - Updated April 3, 2021Reading time: 4 minutes
So the DGE just released December figures and we didn't break that magical number, $1bn in sportsbook handle. However, we did see another interesting first event. For the first time in the Garden State, online gambling revenue is higher than retail (covid-19 shut down months excluded, naturally…), with $158m online vs. $155m retail revenue. This is a huge milestone!
All charts are available in interactive versions by clicking on them.
Figures in this table are online (internet gaming win) only.
|Month||Sportsbook||Casino||Poker||Total revenue||Tax, total|
December 2020 was an historic month. Online gambling revenue was higher than retail gambling for the first time (obviously not counting the Covid-19 shut down period earlier this year). We always knew this was going to happen sooner or later, and granted the retail Casinos are not back to full speed yet, but still an historic event and month…
I really thought December would break another record – that of +$1bn in Sportsbook handle but we came up just short of this, at $996m (up 6.9% from November) so we will have to wait for this record. Pretty darn close though!
The operators had a huge month on the sportsbooks, increasing both handle (turnover) and margins. Handle rose 6.57% to $929m but profits were up $43m (!) to a whopping $58.7m. That's a 34% increase from November and a new record high!
Casino also had a great month, at $96.4m in revenue, closing in on that magical $100m figure. Month on month, that's an increase of 7.83%. Poker still small, closing $3m in rake.
The citizens of the Garden State could cash in over $22m in gambling tax in December. Nice of Santa, and should get other states across the US to speed up their online gambling bills even further…
So let's take a look at market share. Fanduel (and Pointsbet through New Meadowlands) had a great month, clawing back their dominance and are almost back at 50% total market share (49.4%). DraftKings (and BetStars, through Resorts) dropping some market share, from 33% to 27% but let's congratulate Borgata with an amazing move from 3% to 11% market share in a month! Will be very interesting to follow…
Online casino has a far different competitive landscape than the sportsbook market. Most notable move here would be Borgata (with Borgata, Party, Pala and BetMGM) and Golden Nugget (Golden Nugget, Betfair, PlaySugarhouse and BetAmerica) eating market share from Resorts (DraftKings, Foxbet, Mohegan Sun and Resorts).
Stats and figures are gathered from official sources. The data is visualized and commented by Lars Wahlström, CEO of ARGO Gaming Group. Lars is an iGaming veteran with +15 years in the industry and experience from both the B2B- and B2C- side of the online gambling industry. Full comments and analysis are available in the monthly news posts for each respective state, while this page is a basic resource page.
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