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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 revenue figure reported by the Division of Gaming Enforcement was the least expensive for the books since June 2019.

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

The books lost a nearly identical amount on the 2019 Super Bowl - $4.5 million - and that month produced simply $12.7 million in net income.

Bettors dropped 4.2% of their cash bet on football over the first two months of 2020, while losing just 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 duration was available in multi-wager parlays.

Not just did the sportsbooks hold a whopping 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 suggested that while parlays represented simply under 20% of the total wagered, they produced nearly half of the revenue for the sportsbooks in those 2 months.

Meadowlands, FanDuel remain kings of the hill

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

One gambling establishment - Golden Nugget - even lost cash on sports wagering 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 produced the six highest handle figures since New Jersey began sports betting in June 2018.

Last March, led by the NCAA guys's basketball competition, produced a bigger deal with for the books - including more than a lots online operators - than any of the subsequent six months.

Obviously, the extensive cancellation of major sporting events nationwide, likely for the remainder of the month, indicates this March is ensured to be a lean month for the market.