New Jersey Sportsbooks Handled More than $1 Billion in December
Garden State sportsbooks finished 2022 with a flourish by handling more than $1 billion in wagers during December.
It pushed New Jersey’s sports betting industry into record territory, with a total handle of $10,944,593,977 for the year.
That represents the largest annual betting handle in the state’s history, and the second consecutive year in which it has smashed through the $10 billion barrier.
It is no longer the market leader on a nationwide basis following New York’s decision to legalize online sports betting in January 2022. Empire State sportsbooks handled $16.2 billion during the year, leaving it as the new top dog.
However, fears that legal online sports wagering in New York would dent neighboring New Jersey’s thriving industry proved unfounded.
NJ sportsbooks handled $1,055,556,994 in December, according to the New Jersey Department of Law & Justice’s latest revenue report. Online sportsbooks accounted for 95% of that handle.
The sportsbooks held $87.7 million in gross gaming revenue, which represents a 48.5% year-on-year increase compared to December 2021. It provided the state with $11.3 million in tax revenue.
The Meadowlands, which hosts FanDuel, PointsBet and SuperBook on its master license, accounted for $43 million in revenue, confirming its status as the market leader.
On a broader basis, overall gambling revenue in New Jersey hit a joint record $5.21 billion in 2022. Land-based casino revenue was up 9% to $2.79 billion, while online casino gaming revenue soared by 21.6% to $1.66 billion.