News and Notes from the sportsbooks around the country
New Jersey – handle of $540.1 mm with record revenue of $53.6 million (rate of return of nearly 10%) and record $6.6 million in tax revenue; December 2019 handle was $557.8 mm and produced only about half the revenue, $29.4 mm; Superbowl was Feb 2nd, so any Super Bowl wager placed the Friday before the game or earlier counts as hold in January. Our estimate is that over 60% of the betting took place before Feb. That pads revenue numbers in January significantly; Division of Gaming Enforcement, which issues the monthly numbers, provided a post-Super Bowl update of $54.3 mm in bets on The Big Game and a loss of $4.3mm for the books
New Hampshire – In just six weeks, more than 1 million sports bets have been placed in the Granite State; More than 36,923 registered users wagered more than $28.6 million since Dec. 30, 2019, when the New Hampshire Lottery and DraftKings launched sports betting. The one-millionth bet was placed Feb. 8
West Virginia – January 2020 was state’s best month in terms of accepting wagers. WV sportsbooks reached over $8.5 million in handle in every week of the month. In total, books accepted $35,398,396.38 in sports bets last month; $2.2 million in revenue; over $35 million in 2020 is a 99% increase over January 2019; In January, mobile platforms handle figure grew to 56% (46% in December 2019); betting apps accepted over $5 million combined for the first time ever in each of the last two weeks of the month; expected to increase with launch of BetMGM WV (with Greenbrier)
West Virginia – Bill filed in West Virginia Senate to allow bars and restaurants the right to offer betting on sporting events, esports, politics, and entertainment industry events
New York – New York’s four licensed sportsbooks generated total gross gaming revenue of $1.9m during the month of January. This marks a more than 100 per cent increase on December 2019’s gross gaming revenue of $0.8m; Four books generated a revenue of $1,943,351 in January, representing an increase of almost 150% – Resorts World Catskills in Monticello, revenue of $395,659, 507% increase from last month: Rivers Casino and Resort in Schenectady ($778,997), del Lago Resort and Casino in Waterloo ($610,250), and Tioga Downs Casino in Nichols ($158,445).
Oregon – Just in time for Week 2, the Oregon Lottery announced that players would be able to bet on XFL Games – moneyline, spread or total as well as end of season future markets