NJ Sportsbooks Record Loss Of $4m+ On Super Bowl

New Jersey sports bettors took the sportsbooks for a Super Bowl Sunday ride, resulting in a second straight net loss of over $4 m for the NFL’s big game books.

The Associated Press reported on Monday that preliminary data shows the $54.2 m handle generated by New Jersey’s online and land-based sportsbooks on the 2020 Super Bowl, a significant improvement over the $35 m handled by the books on the 2019 big game, which was the first under the new legal betting environment in the State.

There was a modest improvement in the sales output of the New Jersey accounts, which fell from a loss of $4.6 m in 2019 to a loss of $4.3 m this year. But the casinos could ultimately prove winners if the long lines of bettors lining the sportsbooks of the Atlantic City casino took time to get some food, a drink or two, and perhaps lost some of their winnings at the casinos slots and gaming tables after the trophies were handed out.

Nevada, who reported the handle in New Jersey four times during the 2019 Super Bowl, will not report its 2020 numbers until Tuesday. Yet Nevada is widely expected to smash its east coast betting competitor once again in terms of handling, while also enjoying a good return in terms of betting revenue.

In Mississippi, which restricts wagering on land-based casino activity, on Sunday betters reportedly wagered $6.7 m but the Mississippi Gaming Commission has yet to reveal how much the books may have lost or won.

In Rhode Island, bettors were paying $5.5 m with the wagering monopoly of the Rhode Island Lottery, around $1 m short of the estimate for 2019. The books reportedly kept about $805k, reflecting a healthy hold of 14.6 per cent.

The betting market for New Hampshire is only one month old but on Sunday, the bettors of the state splashed out $2.3 m. Delaware retained around 10 percent of his $2.1 m handle, while the betting monopoly of the Oregon Lottery gained $150k in revenue on the handle of around $2 m (which would probably have been higher if its Scoreboard betting app were not its normal wonky self).