Sports betting

FanDuel takes top spot in NJ online betting market

DraftKings slips back after taking a big loss from the Superbowl early in February 

FanDuel took the top spot in the New Jersey betting market in February, after DraftKings reported a big loss on the Super Bowl.

The Meadowlands license, where FanDuel accounts for around 90% of revenues, posted online revenues of $6.6m for the month, down from around $7m last month.

The entire online market saw revenues dip month-on-month thanks to losses on the Superbowl and a quiet period in the sporting calendar.

Hold rate also fell across the industry to 3.9% as books paid out future bets on the Superbowl.

Online betting handle fell 15% to $259m, while online revenues fell 32% to $12.7m

DraftKings suffered more than most, with online sports revenues from the Resorts license (which DK shares with BetStars) falling from $6.9m to $3.7m.

The Monmouth Park license, which includes William Hill and Sugarhouse, delivered the third most revenues with $1.3m in digital revenues.

Elsewhere, online gaming win for the state rose 44% to $31.7m, with casino up 48% to $29.9m.

Poker climbed 2% to $1.8m.

The Golden Nugget license continued to lead the market with $107m in revenues, ahead of Resorts with $6.7m, with the latter boosted by the rapid growth do DraftKings casino revenues.

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