Super Bowl Has Modest Impact on NJ’s February Betting Handle

A recent report released by the Division of Gaming Enforcement in New Jersey shares insight on the gaming revenue for February 2021. Although sports fans wagered millions on Super Bowl LV, the gambling operators did not surpass the gaming handle from the previous month.

A New Report Reveals February Gaming Revenue Results in New Jersey

The Super Bowl in February was expected to bring significant profits for gambling operators across the United States. Sports fans placed record-breaking amounts in wagers on Super Bowl LV surpassing results from February last year in many states. In Atlantic City, sports fans placed double the amount of wagers on this year’s Super Bowl when compared to last year.

However, according to a report outlining the gaming revenue results by the state Division of Gaming Enforcement (DGE) in New Jersey, despite the wagers on the Super Bowl, operators in February did not surpass the gaming handle from the previous month. In February, gambling operators handled $743 million in sports wagers. Compared to the $996 million in sports wagers in January, we observe a decrease.

Online Gaming Activities Skyrocket in February

Most of the sports wagering handle in February was raised via online sports wagers. Last month, a total of $689 million of sports wagers were placed online. In contrast, retail sports wagering contributed only $54 million.

Focusing on winnings brought to operators from sports wagering, we do see a significant increase. Year-on-year comparison for February, sports wagering revenue winnings are up 171.8% to $46.2 million. Furthermore, according to the DGE report, internet gaming win also marked a significant increase. Year-on-year comparison, internet gaming win is up 80.4% to $93.8 million in February.

Total Gaming Revenue Win Increased Slightly

Besides sports wagering, the DGE report also revealed the total gaming revenue won by the operators in February. Last month, total gaming revenue reached $288.3 million. This represents an increase of 0.3% when compared to the same period last year.

In contrast, revenue from slot machines in February reached $107.8 million. This marks a 31.4% decrease from $157 million in February 2020. Table game revenue marked a similar decrease of 34% down to $40.5 million in February this year from $61.3 million in February 2020.

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