New Jersey sports betting revenue rises in June

New Jersey’s sports betting revenue grew in June despite the impact of the coronavirus pandemic.

According to the latest figures from the New Jersey Division of Gaming Enforcement (NJDGE), sports betting revenue in June amounted to $12.6m representing a 30.3% year-on-year increase on the $9.7m generated in June 2019.

June’s sports betting revenue was also a significant increase on the $9.9m generated in May.

Total sports betting handle amounted to $165m in June, a 40% year-on-year drop from the $273.2m wagered in June 2019.

As New Jersey’s land-based casino sportsbooks were closed, all sports betting activity in June came from online and mobile sportsbooks. Online betting handle in June was down 27% from the $226.7m wagered online the year prior.

Breaking down the figures

Meadowlands, and its sub-licensees FanDuel and PointsBet, continued to lead the New Jersey sports betting market after generating $6.1m in sports betting revenue, a significant month-on-month increase on the operator’s revenue in May

Resorts Digital, which hosts the DraftKings and Fox Bet sportsbooks, came in a distant second after generating $3.8m in sports betting revenue.

The Borgata, which hosts the BetMGM sportsbook platform, came in third place with $877,303 in sports betting revenue.

What did people bet on?

New Jersey doesn’t report handle per sport each month, instead, the figures include year-to-date completed events handle in every monthly report.

As the US major leagues sports have yet to resume, bettors have had to look elsewhere to quench their sports betting thirst.

According to the state report, the ‘other’ category saw wagers increase by $125.8m over May’s total, making these events the most popular with bettors in the state. In New Jersey ‘other’ sports refer to anything outside of football, basketball, and baseball.

The parlay category saw betting handle increase by $27.4m, while baseball increased by $7m and basketball saw activity grow by $3.2m.

Igaming continues to grow in NJ

The New Jersey online gambling continued to see growth in June, which is likely due to cross-selling from online sports betting and the fact that New Jersey’s land-based casinos were closed.

Online gambling win saw a 123.1% year-on-year increase to $84.9m in June, however, this was down 1.1% on May’s revenue.

As Atlantic City’s casinos were closed during June, the state’s total gaming revenue was down 67.3% to $90.9m in June. This time last year, the state’s land-based casinos generated a combined $236m in revenue.

However, as casinos in the state have now reopened, New Jersey may see its total gaming revenue increase in the coming months.

NJ casinos reopen

Casinos in the state of New Jersey had been closed since 16 March, as part of a ban on gatherings of up to 50 people, to help slow the spread of the coronavirus.

Golden Nugget Atlantic City, The Hard Rock Hotel and Casino, Ocean Casino Resort, Resorts Casino Hotel and Tropicana Atlantic City, were among the first casinos to reopen in the state of New Jersey on 2 July.

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