New Jersey set an all-time record for sportsbetting revenues in January, as operators made $53.6 million on the activity, up 185.2% from last year.
The previous record for revenues was $46.4 million, which took place in October of 2019. Players in the Garden State wagered $540.1 million on sports for the month, up 40% from last year. Online betting is the dominant form of sportsbetting, with $471.1 million wagered, with retail generated a relatively paltry $69.9 million.
FanDuel remains the leader in the market, generating revenues of $26.4 million, up 277.2% from last year.
New Jersey is proving to be the model for successful betting regulation in the United States, although increased competition from neighboring states may become an issue.