New Jersey sports betting handle hits $748m in April

New Jersey’s sports betting market has posted year-on-year recovery after the coronavirus pandemic brought the world of sports to a standstill in 2020.

According to the latest figures from the New Jersey Division of Gaming Enforcement, bettors in the Garden State wagered $748m on sporting events in April.

While this is below the all-time high record of $996.3m from December 2020, it’s a massive improvement on the $54.6m that was wagered in April 2020 during the coronavirus pandemic.

New Jersey’s figures also represent the highest monthly total for April 2021 among states that have reported figures so far.

Mobile betting made up $681.2m of the state’s total handle in April while the remaining $66.8m was wagered at land-based casino sportsbooks.

Sportsbooks in the state generated $54.8m in sports betting revenue and contributed $6.8m in state taxes in April.

For the first four months of the year, sports betting revenue has now hit $244.2m.

FanDuel continues to dominate

Looking closer at the state report, the Meadowlands licensee, which hosts the FanDuel and PointsBet online sportsbooks, reported a combined $29.1m  in sports betting revenue.

Meanwhile, the Resorts Digital licence, which hosts Fox Bet and DraftKings, generated $12.4m in sports betting revenue.

Borgata and BetMGM came in a distant third place after generating $6.6m in sports betting revenue.

Monmouth Park which hosts the William Hill, SugarHouse, and theScore sportsbooks reported $2.4m in revenue. 

Ocean Casino, which is partnered with William Hill and Tipico, posted a combined revenue of $1.8m. 

The only other licensee to post more than $1m in revenue for the month was Hard Rock, which hosts the Hard Rock, bet365, and Unibet sportsbooks, with $1.5m in revenue.

Basketball takes the top spot

Basketball was the most popular to bet on in April, mainly thanks to the final games of the NCAA’s March Madness tournament.

Sportsbook operators in the state managed to win just under $7m from basketball bets in April.

Meanwhile, parlay bets accounted for $30m of the state’s revenue for the month of April.

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