New Jersey’s online gambling sites came very close to hitting an important milestone in December. Together, they were on course to break into the nine figures for monthly revenue for the first time. Ultimately, they came up just short, but should cross the $100 million mark in the not-too-distant future, perhaps even this month.
As it was, the actual total came up to $99.5 million. That’s an increase of 8.4% over November’s total, though December did benefit from being a longer month. Taking the extra day into account, the increase in average daily revenue was a more modest 4.9%.
Either way, it’s an improvement over the speed of growth the market has seen recently. For much of the latter half of 2020, monthly increases of around 3% to 4% were more typical. December’s gains also pushed iGaming’s annual growth figure north of 100%, where it had been most of the year until November.
Sports betting revenue also showed a significant increase in December, while retail casino revenue held close to even. Despite the casinos continuing to have a rough time, growth for sports betting and online gambling were sufficient to create a year-on-year increase in the grand total, at $313 million versus $287 million in December 2019.