A $4.3 million loss on the Chiefs-49ers Super Bowl didn't stop the New Jersey sportsbooks from producing a net positive for the month.

However, the $17 million earnings figure reported by the Division of Gaming Enforcement was the lowest for the books because June 2019.

The sports wagering manage in February - that is, total amount wagered - was $494.8 million. Just over 88% of that quantity was bet online, with the rest coming from 8 Atlantic City casinos and the Meadowlands and Monmouth Park racetracks.

The books lost a nearly similar quantity on the 2019 Super Bowl - $4.5 million - and that month produced just $12.7 million in net profits.

Bettors dropped 4.2% of their money bet on football over the very first two months of 2020, while losing simply 4% of their basketball betting dollars. Single-game or match bets in "other" sports produced a 6.2% margin for the home, but the big number for the two-month period can be found in multi-wager parlays.

Not only did the sportsbooks hold a massive 17.9% of the handle on parlays in those 60 days, it began $190 million worth of bets - slightly more than was bet on single-game NFL playoff picks. That implied that while parlays accounted for just under 20% of the overall wagered, they produced almost half of the earnings for the sportsbooks in those two months.

Meadowlands, FanDuel remain kings of the hill

The Meadowlands Racetrack and its online partners - generally FanDuel - gathered nearly $11 million of the $17 million declared in February. Resorts Digital, with a portfolio powered by DraftKings, represented another $4 million. The leading gambling establishment, without a doubt, was market leader Borgata at $714,024.

One gambling establishment - Golden Nugget - even lost cash on in February, returning $444,311 more than it maintained. Harrah's and Resorts danced on the break-even ledge, with each coming out less than $50,000 ahead.

The previous 6 months - football season - have actually produced the six highest handle figures considering that New Jersey began sports betting in June 2018.

Last March, led by the NCAA men's basketball tournament, produced a bigger manage for the books - consisting of more than a lots online operators - than any of the subsequent 6 months.

Naturally, the widespread cancellation of significant sporting events across the country, most likely for the remainder of the month, suggests this March is guaranteed to be a lean month for the market.