The New Jersey Division of Gaming Enforcement reported $67.6 million in adjusted gross sports activities betting income Friday as the Backyard Condition sportsbooks cooled off from their record-setting start off to the year.

The 6.3% maintain on $1.08 billion handle was down shut to 3.7 share factors from January, when operators thrashed the community to accumulate $170.8 million in winnings — the fourth-maximum regular complete nationwide due to the fact sports betting became accessible on a condition-by-condition foundation outside the house Nevada in 2018.

February’s overall, nevertheless, was still 23.7% larger than the $54.6 million in AGR claimed for February 2023. Operators claimed $8.5 million in profits from Tremendous Bowl LVIII when compared to $12.8 million the calendar year prior.

Handle was up 27.6% versus the prior February as the Yard State’s $2.8 billion value of wagers in the 1st two months is running 45.1% forward of past year’s pace. Even though February’s operator profits plunged 60.4% from January, the yr-to-day complete of $238.3 million is up a robust 87.7% from 2023.

The state gathered $9.1 million in tax income from operator winnings, elevating the total from the first two months to $31.3 million. That is $14.8 million forward of previous year’s speed via merged January and February totals.

4 licensees post losses on the mobile side

Far more than $1.04 billion was wagered by using sports activities betting apps in February as the maintain for electronic betting was in line with the general 6.3% get charge. Four license-holders completed February in the crimson, with the major reduction coming from Freehold Raceway at -$2.3 billion. ESPN Wager, PlayUp, and betPARX are accredited by the harness monitor, and February’s losses have been practically double the $1.2 million that bettors came out forward in January.

SportTrade, which operates by means of Bally’s, posted its biggest regular monthly reduction as bettors came out $413,895 ahead and wiped out all but $168,000 of its January revenue. Fellow betting trade platform Prophet also took a six-figure decline for February, spending out $406,684 higher than its ingestion. That put Prophet in a slight deficit for 2024 as it’s now down $34,929.

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The two mobile books licensed to Golden Nugget — its personal platform and Betway — posted a loss of $158,683, knocking it $91,211 into the red for 2024.

The trio of on the net sportsbooks licensed to the Meadowlands — FanDuel, SuperBook, and PointsBet — paced all venues with $33.5 million. That was much less than one-third the $109.3 million haul it made in January that driven the record-environment volume for the condition.

DraftKings had its thirty day period-around-thirty day period profits slip 40% to $24.2 million right after surpassing $40 million in winnings for just the third time in general in January.

Caesars digs alone a deeper gap for retail betting

There ended up three brick-and-mortar venues that experienced month-to-month losses for February, with two — Caesars and Resorts — falling into a further gap following January losses.

Bettors came out $128,200 ahead at Caesars, putting its deficit at $517,000, when the $97,700 decline posted by Resorts leaves it down $233,500 for the first two months of the year.

Tropicana was the other retail guide to conclude February with a reduction as the betting general public came absent $10,387 ahead. The Meadowlands accounted for virtually 75% of the $2.1 million in retail sportsbook income for the month with near to $1.6 million, although Monmouth Park was a distant second with $259,500.

All-time retail sportsbook earnings in New Jersey inched above $300 million with February’s complete as the venues have claimed $6 million to commence 2024.

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